PIMFA
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Since the implementation of the Money Laundering Regulations 2017, there has been a legal requirement for regulated firms to take appropriate steps to identify and assess the risks of money laundering and terrorist financing to which its business is subject. To do so, firms should first understand its inherent risks, the effectiveness of the controls in place to mitigate such risks, and therefore the overall residual risk. The risk assessment is the foundation of a financial crime framework, and the results should inform a firm’s policies, procedures and compliance monitoring plans.
This FREE webinar will help firms develop an enterprise-wide risk assessment which meets regulatory requirements and industry best practice, using a mixture of qualitative and quantitative approaches which are appropriate and proportionate for firms.
The focus of our discussion will be:
- Developing and enhancing your money laundering and terrorist financing risk assessment to meet the regulators expectations
- Providing you with an ability to identify gaps or opportunities for improvement in AML policies, procedures and processes
- Ensuring management are made aware of the key risks, control gaps and remediation efforts
- Assisting management in ensuring that resources, priorities and training are aligned with its risks
