MLRO - Introduction to the Role

Evidence an adequate level of competence
Explain the high profile nature of the MLRO role and the approach of their firm’s AML regulator to their supervisory responsibilities
Recognise the contributions to the UK’s AML/CTF regime from the FATF and the EU
Appreciate the importance of relevant industry guidance and, particularly, of any guidance carrying approved status
Assist in the creation of a firm’s ML risk assessment and the development therefrom of the firm’s risk based CDD arrangements and other systems, procedures and controls for AML/CTF
Oversee the firm’s day-to-day management of its AML/CTF regime, including its monitoring arrangements and with particular reference to enhanced CDD and monitoring obligations
Manage a firm’s Suspicious Activity Reports (SARs) regime