The Role, the Responsibilities & the Risks for MLROs - Your Live Guide to the 3 ‘R’s

Introduction

The world of AML is constantly changing and the role of MLRO is evolving too. Not just a title, it is easy to see why some officers struggle to keep up with all the changes and balance their day job at the same time.

Over the past year alone, we have seen the regulators update their guidance for the sectors again. Guidance for the different sectors was updated after the 5MLD changes in 2020 but has again been updated to include proliferation financing and changes to discrepancy reporting. Under legislation it is a requirement by law to have a nominated MLRO in the regulated sector. MLRO's and their deputies will need to ensure that all policies, procedures and internal controls and risk assessments have been updated to incorporate the changes and training has been provided for the staff.

Other changes over the past year include the emphasis on sanctions and the use of technology. Templates and guidance have been released by the regulators on key areas of non-compliance found during their AML visits.

As MLRO, have you reviewed all the guidance and implemented the changes? How up to date are your policies and procedures? Has your training been refreshed?

This live broadcast session is not for academics but is full of practical advice and real-life scenarios.

Presented by the 'brilliant' and 'engaging' Jo Morris this virtual classroom seminar is essential if you are new to the role of MLRO or deputy, a compliance team member or just wish to learn more about the role and the changes in regulation.

What You Will Learn

This live and interactive session will cover the following:

• The appointment of the MLRO
• Job description - what does the role cover
• The regulators and their guidance
• The Money Laundering Regulations 2017 including the 5MLD updates:
• Risk assessment requirements
• Changes made to due diligence
• Capturing of client information
• Identifying the source of funds and wealth
• The extended definition of a PEP
• Beneficial owners
• Record keeping
• MLR2017 and Data Protection
• Training - who, what, when and how
• Reporting to the NCA - what to report and how to complete a SAR
• Penalties for getting it wrong
• Template documents - what records should you be keeping
• The future

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.