Anti Money Laundering (AML) Compliance Team Certification Training Course – Level II

Course overview

The international arena is the new competition platform for businesses. In addition to technological advancement and incorporation of artificial intelligence, the global business environment offers a platform for fraudsters to evolve their crime if uncontrolled. Money laundering is currently affecting the global economy, placing many organizations at risk. The lessons offered in this course give the participant a comprehensive understanding from scratch to managing money laundering risk. This program is equipped with highly-interactive activities and real world-scenario examples that enhance the participant’s interest and passion for the content at a personal and organizational level. The course highlights the theoretical basis of risk management, deeply analyzing the analytical techniques that businesses, individuals, and compliance officers require. Parties holding AML compliance and risk management responsibilities will find the course a vital necessity. Participants with general business knowledge interest and those planning to undertake AML compliance careers in future will also find the course content useful. 

TARGET AUDIENCE

• Internal auditors
• Institutional managers
• Business entrepreneurs
• Organizational supervisors
• Compliance managers and personnel
• Financial institutions
• Parastatal heads
• Consultancy firms
• Finance firms
• Finance managers
• Individuals with interest
• Others

Learning Objectives

• After completion of this course, participants should be conversant with the following:
• Master the internal control methods used in risk compliance
• Understand the role of different stakeholders in risk management
• Gain in-depth knowledge in the supply chain risk control methods
• Understand the emerging issues in AML compliance
• Develop AML compliance standards
• Understand how business environmental factors affect AML compliance

Our Unique Training Methodology

Let me explain to you how this course is different from the thousands of other courses available on the internet.

• Pre-Assessment – Before beginning, a pre-assessment will be provided to assess the knowledge and skills of the participants.
• Lecture/Discussion – Lecture & discussion interactive session on the basics of human resource management to make participants more engage with the course.
• Guided Group Exercises – Dividing the class into small groups, an exercise, or a case study to work through.
• Hands-on Application – Providing participants with a hands-on application of the concepts they have learned.
• Post-Assessment – Question & answer session for solving all queries.

Training Medium

This Behavioral Interviewing training is designed in a way that it can be delivered face-to-face and virtually.

Course Duration

The training can be in the form of a full-fledged 40-hour program or a 15-hour crash course covering 5-hour content per day within 3 days.

Pre-course Assessment

• Planning your introduction – the brief will be shared with participants via mail

• Reading Reviewing the course outline training modules and sharing any rising amendments no more than 48 hours’ prior
• Questionnaire answers will remain confidential and used only for purposes of understanding the participant’s expectation in this class. 

Course Modules

Module 1. Introduction 

• Introduction exercise: What the importance of AML compliance? 
• The evolution of money laundering
• Types of risks due to financial crime and risk assessment methods
• The risk-based approach and the model elements
• Risk-management programs in anti-money laundering management
• Corporate governance and control methods
• Impacts of money laundering
• Raising a compliant organization

Module 2. Anti-Money Laundering Risk Assessment?

• Introduction exercise: Participants to voluntarily narrate any first-hand or known personal experience of transactional fraud.
• Introduction to risk management
• Anti-money laundering concepts
• Types of risks in money laundering
• Tools and techniques of risk assessment
• Anti-money laundering risk identification and assessment process
• Importance of customer demographics in anti-money laundering risk assessment
• Oral peer-discussion question: How do you plan to minimize compliance risks in your ideal future career?

Module 3. The Role of a Compliance Officer 

• Introduction exercise: Oral peer-discussion and response on AML compliance.
• The leadership role of a compliance officer
• Assigning figure-heads for AML management
• The compliance and accountability role
• Advising management on compliance issues
• Live peer-discussion question: Participants should identify any three public companies that have been accused of money laundering and discuss the respective scenarios.

Module 4. The Investigation Process 

• Understanding risk investigation better
• The steps of risk identification
• Sources of risk investigation
• Using technology to conduct risk investigations
• Food for thought: What steps would you take if you realized there is money laundering going on in your organization although the auditors failed to detect it?

Module 5. Supply Chain Risk Control 

• Introduction to supply chain risk management
• Technological methods of risk management
• Types of risk in the supply chain system
• Effective risk response methods
• Closing exercise: Participants to list possible fraud risks in the supply chain system.

Module 6. Personnel Management in Risk Compliance

• Introduction exercise: Oral discussion-participants to role of different employees during compliance audit assessments.
• Designing the AML control policy
• Organizational training on AML
• Open communication as a means of knowing compliance gaps
• The AML reporting channel
• The role of internal auditors as personnel
• Food for thought: What would you do as the company compliance to prevent money laundering in the organization.

Module 7. Emerging Issues in AML Compliance

• Introduction exercise: What role do you think computers play in AML compliance? 
• The evolving face of money laundering
• The decentralizing aspect of AML compliance
• Globalization and money laundering
• Artificial intelligence in risk assessment 

Module 8. Audit and Anti-Money Laundering 

• Introduction exercise: Written peer discussion (Discuss any new aspect that you think should be introduced in AML compliance)
• The compliance officer’s role during risk audit and assessment
• Stakeholders in audit risk management
• Types of risk audit
• The money laundering risk audit process

Lessons Learned

“Would you love your money warmed sir?

Money laundering does not exclusively affect organizations. It is possible for us or someone we know to fall prey to money laundering amidst difficult economic times and normal internet visits. Completing this course should help you realize that AML compliance knowledge is pertinent both at the individual and organizational levels. By now, you should have learned the meaning of the terms “risk control” and “compliance officer”, how to analyse the risk status of any entity, and decided how you want to apply your AML compliance knowledge. As a brand of this esteemed course, you are equipped to gaining top-notch knowledge in AML compliance.