Learn the importance of enterprise-wide
ML/TF risk assessments. Identify and evaluate risks from customers, products,
geography, and transactions. Develop a Risk Appetite Statement (RAS) aligned
with your organization's strategy.
Learning Objectives:
- Understand the importance of enterprise-wide ML/TF risk assessments in mitigating financial crime risks.
- Learn how to develop and conduct a comprehensive risk assessment to identify vulnerabilities to ML/TF across an organization.
- Identify and analyze risk factors, including customer, product, geographical, and transactional risks.
- Explore methodologies for assessing inherent and residual risks and determining the institution's overall risk exposure.
- Understand the role and development of a Risk Appetite Statement (RAS) and its integration into the organization's governance structure.
- Learn how to align the risk assessment with the organization’s risk appetite, policies, and controls.
- Master the process of reporting findings to senior management and regulatory authorities.
Course Outline:
Introduction to Enterprise-wide ML/TF Risk Assessments:
- Definition and purpose of an enterprise-wide ML/TF risk assessment.
- Importance of aligning risk assessments with global AML/CFT regulations (FATF, Basel).
Key Components of a Risk Assessment:
- Identifying and analyzing risk factors (customer, product, geography, and transactions).
- Techniques for assessing inherent and residual risks.
- Using quantitative and qualitative data for accurate risk assessment.
Developing an Enterprise-wide ML/TF Risk Assessment:
- Step-by-step guide to creating and executing an ML/TF risk assessment.
- Risk scoring methodologies and how to assign risk levels.
- Documenting and reporting the risk assessment results.
Creating a Risk Appetite Statement (RAS):
- Definition and purpose of a Risk Appetite Statement.
- Aligning the RAS with the overall risk management strategy.
- Integrating RAS into business decision-making and governance frameworks.
Monitoring and Reviewing Risk Assessments:
- Ongoing risk assessment reviews and updates based on changing business environments.
- How to revise the RAS to reflect updated risk profiles.
Reporting and Communicating Findings:
- Presenting findings to senior management and stakeholders.
- Regulatory reporting obligations for risk assessments and RAS.
Case Studies and Best Practices:
- Real-world examples of enterprise-wide risk assessments and how they impact an organization’s risk management strategy.
Duration:
2-3 Days (including case studies and hands-on risk assessment exercises).
Level: Advanced
- Designed for compliance officers, risk managers, and executives responsible for financial crime risk management.
Prerequisite:
Intermediate to advanced knowledge of AML/CFT frameworks and financial crime risk management.
Category:
- Financial Crime/Risk Management
- Corporate Governance/Compliance
