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MLRO - Refresher Training

The statutory and regulatory origins of the Nominated Officer’s/MLRO’s responsibilities and the parallel responsibilities of senior management - identifying and addressing issues arising from the ‘fit’ between the MLRO and senior management
Explores and compares against other UK AML regulators the current expectations of the FSA and their focus on small firms in general and matters such as firms’ approaches to dealing with risk assessments and sanctions
Identifies and considers any matters arising from using the Guidance issued by the Joint Money Laundering Steering Group (JMLSG) and other regulatory authorities for AML purposes
Reviews the working of the risk-based approach now required by statute and reflected in best practice standards, focussing on issues encountered producing a risk based AML assessment of a firm’s business and the development therefrom of the firm’s systems, procedures and controls for AML/CTF purposes
Revisits the structural regime required to be put in place to meet and support suspicion reporting obligations within the firm and interfacing with external authorities, with special reference to the ‘consent’ regime and the SOCA updating review
Compares the uses and limitations of the annual report required by FSA Rules to be delivered from the MLRO to senior management
Addresses the role of AML training in being able to demonstrate competences of senior managers and Approved Persons to the FSA without the necessity of taking examinations to gain relevant qualifications
Uses case histories and examples and accommodates delegates own issues to work towards pragmatic solutions that can reflect good market practice