Institutional AML/CFT Risk Assessment Workshop
Practitioner2 daysAML/CFT
Programme overview
A build workshop producing the single document supervisors ask for first. Delegates leave with a substantially drafted institutional AML/CFT risk assessment for their own organisation, covering customer, product, channel and geographic risk, with control effectiveness assessed and residual risk rated. Also covers how the institutional assessment feeds the national risk assessment and the mutual evaluation process.
Who should attend
MLROs and deputies, heads of compliance, AML managers, risk officers, internal auditors, and executives who must approve the assessment.
Sectors
All accountable institutions and DNFBPs. Particularly valuable for institutions preparing for a first supervisory inspection or responding to a finding on risk assessment.
Modules
- Why the institutional risk assessment is the foundation of everything else
- Methodology options and choosing one you can defend and repeat
- Customer risk: segmentation, risk factors, weighting
- Product and service risk: assessing your own product set including new products
- Delivery channel risk: branch, digital, agent, intermediary, non face to face
- Geographic risk: country risk ratings, cross border exposure, high risk jurisdictions
- Assessing inherent risk and scoring it
- Control environment assessment: identifying and rating the effectiveness of each control
- Deriving residual risk and interpreting the result honestly
- Using the outcome: calibrating CDD, monitoring, training and resourcing to the assessed risk
- New product and new technology risk assessment as a standing process
- Linking to the national risk assessment and mutual evaluation expectations
- Governance: approval, review frequency, and evidencing board engagement
- Build session: delegates complete their own institution's assessment
Learning outcomes
On completion delegates will be able to:
- Select and apply a defensible risk assessment methodology
- Assess customer, product, channel and geographic risk for your institution
- Rate control effectiveness and derive residual risk
- Use the assessment to calibrate your AML programme
- Present the assessment to a board or supervisor
Tools and templates provided
- Institutional AML/CFT risk assessment tool (spreadsheet based)
- Country risk reference table
- Product risk assessment template
- Control effectiveness rating guide
- Board approval memorandum template
Assessment and certification
Completed institutional risk assessment, assessed against a rubric.
Certificate of Completion.