The MLRO Refresher

So often, Money-Laundering Reporting Officers (MLROs) are so busy ensuring that everyone else in their firm receives the AML training, that the need to keep up to date as the MLRO gets overlooked.

This course looks at the current areas of interest to AML regulators, enhanced with case histories and studies.

Specific themes addressed in the MLRO Refresher course include:

• Challenges arising from the split of responsibilities between the firm’s senior management (in particular the designated Senior Manager in regulated firms) and the MLRO
• Issues arising from the firm’s ML risk assessment and the ongoing maintenance of it
• Practical updates from managing the firm’s SAR arrangements
• Training and awareness, contrasting retail and wholesale markets’ practical needs
• Management information, including the regulatory requirement for an annual report to senior management
• Regulators’ current areas of interest

This is intended to be an interactive course to which participants can bring their own current issues and challenges to add to the current themes identified above. Participation provides an opportunity to find pragmatic solutions to current challenges, born of the experience of others, thus leading to resolutions that can be considered to reflect current market practice.

The course is aimed at MLROs, Deputies and Assistant MLROs.

It may well prove to be of benefit and interest to others in regulated firms, including Chief Executive Officers, Internal Auditors, Compliance Officers and those proactively involved in reviewing or relying on the effectiveness of the MLRO.

After attending this course, participants will:

• Be able to evidence a continuing level of competence
• Appreciate the high-profile nature of the MLRO role and the approach of their firm’s AML regulator to their supervisory responsibilities
• Be aware of the importance of practical issues arising from applying relevant industry guidance and of any guidance carrying approved status
• Be able to give practical assistance in creating the firm’s ML risk assessment
• Be able to give practical assistance in the development of risk-based CDD arrangements and other AML/CTF systems, procedures and controls
• Recognise the wider issues and challenges of the firm’s AML training regime
• Benchmark against other firms’ practical experience of matters arising from their own firm’s day-to-day management of its AML/CTF regime, including its monitoring arrangements and with particular reference to enhanced CDD and monitoring obligation

• Statutory and regulatory origins of the Nominated Officer’s/MLRO’s responsibilities
• The parallel responsibilities of the Nominated Officer/MLRO and senior management
• Current expectations of the FCA and other regulators
• Matters arising from using the Joint Money Laundering Steering Group (JMLSG) Guidance and other regulatory authorities
• The risk-based approach - producing a risk-based AML assessment of a firm’s business
• Suspicion reporting obligations and the ‘consent’ regime
• Uses and limitations of the annual report from the MLRO to senior management
• The role of AML training in demonstrating competences of Senior Managers and Approved Persons to the regulator
• Case histories, examples and discussion of participants' own issues to work towards pragmatic solutions that reflect good market practice

All of CCL Academy’s public courses are delivered virtually using Zoom.

Firms with more than 5 staff to train have the flexibility to deliver training in-person by one of our trainers at your premises, or virtually via Zoom, Teams or Webex.

Find out more about your Virtual or In-Person training experience below.