Recently the Wolfsberg Group has revised its AML Questionnaire in response to both an increase in regulatory expectations and a call for action from international standards setters to strengthen and build efficiency into due diligence processes. The new updated Correspondent Banking Due Diligence Questionnaire (CBDDQ) contains 110 questions and should be used by Financial Institutions engaging in cross-border and/or other higher risk correspondent banking relationships.
Training and raising awareness is an integral part of the new questionnaire. More than 10 questions are related to Training & Education ranging from providing AML/CFT & Sanctions training to auditing training efforts.
Is your AML/CFT Training Program compliant with the new Wolfsberg Group’s CBDDQ?
According to the CBDDQ an AML/CFT Training Program should cover the following topics:
In addition, CBDDQ expects the courses to be specific for different roles & responsibilities, customised and results of the training efforts should be measured on effectiveness.
LMS platform & services
i-KYC’s e-learning courses are produced applying the industry standard SCORM 1.2 programming protocol. You may choose to have them delivered to you electronically, ready for uploading to your hosting platform. In case you need a hosting platform or wish to reduce the burden on your HR and IT organisations, i-KYC can support you in the roll-out with our low cost, state-of-the-art Learning Management Solution.
i-KYC offers a comprehensive cloud-based Learning Management Platform with the following essential features:
- Exclusive LMS Platform with own ‘Look & Feel’
- LMS administration and support services
- Hosting of multiple e-learnings (including 3rd party providers)
- Administer other training methods (e.g. classroom training, assessments)
- Scalability, flexibility and operational efficiency
- Monitoring and analytical capabilities
Benefits of the LMS Services
Rapid and no-hassle deployment of your complete learning programme using a dedicated single point of contact.
Create your exclusive Learning Management Platform with company logos and own Look & Feel.
Combine multiple courses in logical groupings to create personalized learning paths for your valued learners to engage.
Add content from various learning service providers (provided courses are SCORM compatible).
Review performance and gain insight into training impact with reports and dashboards, or create custom reports delivered via email.
Instant evidence to internal and external stakeholders of compliance with training-related regulatory obligations.
Special: Audit reporting package for
Management, Local Regulators and Correspondent Bank relations:
- Evidence of course completion of users including Knowledge Check scores & time stamp
- Document with e-learning content (slides) plus list of questions of the knowledge checks
i-KYC’s LMS administration and support services include:
- administration of unique user accounts
- grouping by Teams/Departments;
uploading and installation of e-learning programmes
- roll out of e-learning courses to the target group (invitation to attend)
- administration of classroom trainings
- data collection and progress monitoring
- due date follow-up
- periodic management reporting