At least once annually the Money Laundering Reporting Officer (MLRO) is required to produce a report to the governing body of the firm.
This report must include an opinion as to the effectiveness of the anti-money laundering systems and controls, together with other information that the MLRO needs to bring to the attention of the governing body. This requirement links with the obligation that the MLRO has as an Approved Person.
It is vital that the content of the report provides a full and detailed assessment by the MLRO as the members of the governing body will place reliance on it and the Regulator is likely to request sight of the report in completing their own assessment of the effectiveness of the systems and controls in place to mitigate the risk that the firm could be involved in financial crime.
This course is designed to provide succinct guidance for MLRO in the preparation of the report.
- Understand the objectives of the MLRO report to the governing body
- Have a sound knowledge of why it is a requirement
- Consider a structure of the report that will meet the needs of your firm
- Be aware of market best practice in producing the report
- Benchmark your recent reports to market best practice
- The responsibilities of the MLRO and other members of senior management
- The relevant high-level principles for the firm and the individuals
- Why the report is required: by whom and when
- The assessment and opinion of the MLRO
- The possible structure and content
- Recommendations and follow up
Course aimed at: Anyone currently or considering becoming an MLRO; Senior Management; Internal Audit.
This course can be delivered onsite or as an instructor lead course at a firm’s office.
If you would like to discuss your training requirements in more detail please contact Graham Dix on +44 (0)20 7484 3987 or your usual ACA consultant.