BEGIN:VCALENDAR VERSION:2.0 PRODID:-//wp-events-plugin.com//7.2.3.1//EN BEGIN:VEVENT UID:395@x8ti.com DTSTART;TZID=Europe/Berlin:20261221T090000 DTEND;TZID=Europe/Berlin:20261224T130000 DTSTAMP:20260209T205850Z URL:https://x8ti.com/event/anti-money-laundering-aml-training-for-board-of -directors-senior-management-level-3/ SUMMARY:Anti Money Laundering (AML) Training for Board of Directors & Senio r Management – Level 3 DESCRIPTION:Course Overview\nAs per FATAF’s International Guidelines\, Th e Board of Directors of any financial institution has a fiduciary duty tow ards the organization to ensure that there is a robust compliance program in place. The Board needs to set “the Tone from the Top”\, establish a n effective control framework and effectively promote a “culture of comp liance”.\n\nA high-risk compliance responsibility entails the flow of cr itical information to risk committees and boards and should be of relevanc e to the overall governance purpose. Senior management in most financial i nstitutions have well-established procedures and policies for dealing with overall operational risk’s like credit risk or market risk\, but the pr actice of dealing with Know Your Customer (KYC) and Anti-Money Laundering (AML) risk is yet to mature.\n\nThe AML/KYC compliance looks into transfer or conversion of illicit gotten sources (black money) to legally accessib le/taxable (white money) funds\, primarily using the financial institution s as a conduit for concealment and disguise activities to happen.\n\nTechn ically speaking\, Board members are not required to be experts at AML know how\, but\, it’s highly recommended and comes as industry best practice for BoD’s to acquire an understanding of fundamental aspects of AML Risk Control Framework\, in order to effectively exercise their oversight resp onsibilities\, as mandated by almost all the national financial regulatory authorities.\n\nUnder this understanding of the regulatory environment in which the firm operates\, the Board of Directors and Sr. Management must have a basic working knowledge of applicable regulations\, including relev ant requirements around the globe.\n\nThis Masterclass cum Board consult s ession will give the BoD’s and Sr. Mgmt. an understanding of the said fr amework and will prove to be a means to appreciate the law enforcement mec hanisms working to maintain such said equilibrium and the resultant conseq uences of non-compliance with these regulations viz. Reputation management \, Shareholder’s interests\, legal ramifications\, consequences of adher ence failures\, etc.\n\nThis Xcelerate training course designed for the Bo ard Members\, Heads of sub-committees and the Senior Management will equip them to have a clear compliance understanding towards transparency &\; visibility of the enterprise-wide compliance operations and adherence dut ies.\nCourse Objectives\nThe regulatory mandates globally\, have added a s pectre of personal liability for the Board Members to likely compel the ex ecutives to devote more attention to the design and maintain the instituti on’s AML program.\n\nThis course is actually an overall consult session for the Board members to get a grip over their organizational Risk Appetit e/Tolerance\, subsequent Framework\, AML compliance\, Risk overview\, etc. for which they are responsible as an on-going AML compliance.\n\nIn a bro ad sense\, these training sessions will explain the regulatory mandate tha t endorses more robust individual accountability from them for AML complia nce towards the organization and the steps they take to empower their orga nization with culture\, knowledge and understanding\, that’s needed to t ackle this regulatory mandate and demonstrate organization-wide compliance readiness for regulatory authorities.\n\nUltimately\, we will discuss and review ideas and suggest that a more efficient and effective regulatory o utcome could be achieved if the private market developed and then adopted standards by which executive liability is justified in a financial firm\, for AML failures.\nTraining Methodology\nThis is an interactive training program and will involve the following training approaches:\n\n Lectures\ n Webinars/Seminars &\; Presentations\n Group Discussions\n Bod & \; Sr. Mgmt. Consulting sessions\n AML KYC Policy Documentation Analysis\ n Compliance Team Focus Group Discussions\n Case Studies &\; Function al Exercises\n\nOrganizational Benefits\nCompressing the above-given infor mation\, i.e. stating the benefits for the Board Members/Sr. Management pe rsonnel\, who will attend this training:\n\n Understand and be equipped f or regulating money laundering controls\, it’s set-up and requisite gov ernance for regulatory violation prevention-oriented approach\n Understan ding organizational vulnerabilities to (or complicit in) money laundering and measures to tighten the controls\n Instructive understanding and case studies of potential compliance failures and subsequent management recour se\n Law enforcement investigations\, what triggers them\, methods of dea ling with them and possible remedies\n Executive liability for a complian ce failure\, possible scenarios\, what are the next steps and damage contr ol\n Technology set-up for the efficient flow of critical compliance and operational information for seamless adherence and governance\n\nPersonal Benefits\nBoard members who participate in this course can benefit in the following ways:\n\n Compliance failure is a personally liable offence\, h ence steering clear of any actions is a huge Personal Benefits\n Board Me mbers get to discuss and understand the compliance and the know how\n Bod y’s will further learn to strategize not only AML risks but any corporat e risk mitigation against any type of risks in a structured manner and bui ld a system to monitor\, avoid and counter\n Understand the working of La w Enforcement network under a particular regulatory guideline as any anti- fraud or anti-malpractice or similar governance mechanisms are built in th e similarly executable manner\n\nWho Should Attend?\nThis course offers co mprehensive knowledge and an upfront consulting session regarding AML/KYC regulations\, compliance program\, assessment and management responsibilit ies.  Following individuals or groups will benefit from it:\n\n Board of Directors\n Senior Management of all functions\n Compliance personnel\n Legal team / retained-external counsel\n Designated Director / MLRO / C ompliance Officer\n\nProgram Outline\nUnderstanding the Body / Sr. Managem ent’s responsibilities towards Compliance\n\n Appointment of a Designat ed Director / Designated Compliance Officer / MLRO (Money Laundering Repor ting Officer)\n Cost of Compliance\n Penalties and Reputation Damage\n Loss of Operational License / Charter\n Personal Fines/Penalties\n Share holder Dissatisfaction\n Protect the organization from being used for ill egal purposes\n Be aware of the Bank’s BSA/AML programs and activities\ n Support senior management in BSA/AML efforts\n Don’t ignore or downp lay indications that clients may be involved in illegal or illicit activit ies\n Keep BSA/AML matters confidential\n Unlatching processes than thei r board-approved AML program\n Annual review and approval of BSA/AML (and related) policies\, along with the appointment of the BSA Officer(s)\n E stablish a written PMLA/AML/OFAC compliance program\, that is commensurate with their OFAC risk profile\n\nUnderstanding the Basic five pillars of A ML Compliance (AML/PMLA/BSA):\n\n Establishing a Culture of Compliance\n Written policies\, procedures and internal controls\;\n A designated BSA compliance officer\;\n An employee training program\;\n Independent tes ting of the BSA/AML program\; and\n Customer due diligence procedures\n\n Co-operating with Law Enforcement\n\n Investigations Initiated by the Fin ancial Institution\nResponding to a Law Enforcement Investigation\n• Inv estigations Initiated by the Law Enforcement\n• SUBPOENA\n• SEARCH WA RRANT\n\nAdvance Engagements\n\n Cooperation Between Countries and respon ding to AML/CFT MLATs\nInternational Inter-Intra Organizational Co-operati on &\; Procedures\n\n Corporate Outlook\n\n Obtaining Counsel in the event of an Investigation Against a Financial Institution\nOrganization Re putation Management\n• Media Relations &\; Correspondence\n\nInvestig ations Initiated by the Financial Institution\n\n Communicating with Law Enforcement on STRs\n Investigations Initiated by Law Enforcement\n Pros ecutor Decision against a Financial Institution for Money Laundering Viola tions\n Response\, Monitoring and Cooperation from the Financial Institut ion to a Law Enforcement Investigation\n\nObtaining Counsel for an Investi gation Against a Financial Institution\n\n Retaining Counsel\n Attorney- Client Privilege applied to entities and individuals\n Dissemination of a Written Report by Counsel\n\nNotices to Employees as a Result of an Inves tigation Against a Financial Institution\n\n Employee Interviews in the e vent of a Law Enforcement Action\n Investigation Against a Financial Inst itution\n Media Relations\n\nAML/CFT Cooperation Between Countries\n\n F ATF Recommendations on Cooperation Between Countries\n International Mone y Laundering Information Network\n Mutual Legal Assistance Treaties\n Fi nancial Intelligence Units\n\nCost of Compliance\n\n Basic Resources allo tment\n Annual Compliance Budget:\n Supporting Compliance Teams’ BSA/A ML efforts by requisite cost allocation\n Technology Costs – Acquisitio n process ->\; Licensing ->\; Implementation ->\; Training\n Traini ng/Consulting/Procurement Vendors Costs\n Hiring Experienced Compliance professionals\n\n \; ATTACH;FMTTYPE=image/jpeg:https://x8ti.com/wp-content/uploads/2024/09/Scre enshot_20240917-143804_Chrome.jpg CATEGORIES:Audit, Compliance and Governance LOCATION:Berlin Training Courses\, Hotel Adlon Kempinski Berlin\, Berlin\, Germany\, Germany X-APPLE-STRUCTURED-LOCATION;VALUE=URI;X-ADDRESS=Hotel Adlon Kempinski Berli n\, Berlin\, Germany\, Germany;X-APPLE-RADIUS=100;X-TITLE=Berlin Training Courses:geo:0,0 END:VEVENT BEGIN:VTIMEZONE TZID:Europe/Berlin X-LIC-LOCATION:Europe/Berlin BEGIN:STANDARD DTSTART:20261025T020000 TZOFFSETFROM:+0200 TZOFFSETTO:+0100 TZNAME:CET END:STANDARD END:VTIMEZONE END:VCALENDAR