ADVANCED

The Role of the Money Laundering Reporting Officer

The Role of the Money Laundering Reporting Officer

Frequency: Bi-monthly  

Date of next course: 27th November 2014

Time: 10am-5pm

Location: Cordium UK offices, 130 Jermyn Street, London, SW1Y 4UR

Cost: £649 + VAT

Course Overview:

The role of the Money Laundering Reporting Officer  (MLRO)  is a mandatory position in all firms in the Financial Services Industry. This reflects the statutory objective that the Regulator(s) have for ensuring that firms behave with “Integrity”, particularly relating to financial crime prevention. The MLRO therefore plays a significant role in assisting Senior management to ensure that systems and controls relating to anti-money laundering (AML) and countering the risk of terrorist financing (CTF) are appropriate and effective. This course provides practical advice and guidance on the responsibilities of the MLRO, what is expected by the Regulators, both of the Senior Management and the MLRO, and how those responsibilities can be achieved. It should be noted that attendance at this course does assume a good knowledge of the UK’s AML/CTF regulations.

Course Objectives:

Attendance on this course will enable you to:

  • A sound knowledge of what is expected of the MLRO
  • Practical ways to meet the expectation
  • An understanding of the importance of the JMLSG
  • An opportunity to benchmark your knowledge and current AML/CFT compliance arrangements

Key topics:

  • The Legal Framework
  • The Responsibilities; Person and Position
  • JMLSG Guidance: and the Risk-Based approach to AML
  • Suspicious Activity Reports (SARs) and Law Enforcement Investigations
  • Use of National and International Findings
  • Awareness, training and competence
  • Ongoing Monitoring
  • The MLRO Report to the Board
  • Data Protection Act

Course aimed at: Anyone currently or considering becoming an MLRO.

Maximum numbers: 12

This course can also be delivered as an onsite course or as an instructor lead course at a firm’s office.