[tin-bugs] Anti-Money Laundering (AML) Training Course for Board of Directors and Senior Management On 12th to 23rd December 2022, Kenya

[Skills for Africa Training Institute]

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 Anti-Money Laundering 
(AML) Training Course for Board of Directors and Senior Management On 12th to 
23rd December 2022

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Calendar for 2022/2023 
Workshops
 

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Whatapp
 
Venue: 
PrideInn Paradise Beach Resort, Mombasa, Kenya
Course 
Fee: 3,000USD
Office 
Telephone: +254-702-249-449
Register as a group of 5 or more participants and get 25% discount 
on the course fee. 
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us an email: 
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training at skillsforafrica.org or call +254-702-249-449
 INTRODUCTION
As 
per FATAF’s International Guidelines, The Board of Directors of any financial 
institution has a fiduciary duty towards the organization to ensure that there 
is a robust compliance program in place. The Board needs to set “the Tone from 
the Top”, establish an effective control framework and effectively promote a 
“culture of compliance”. A high-risk compliance responsibility entails the flow 
of critical information to risk committees and boards and should be of relevance 
to the overall governance purpose. Senior management in most financial 
institutions have well-established procedures and policies for dealing with 
overall operational risk’s like credit risk or market risk, but the practice of 
dealing with Know Your Customer (KYC) and Anti-Money Laundering (AML) risk is 
yet to mature. The AML/KYC compliance looks into transfer or conversion of 
illicit gotten sources (black money) to legally accessible/taxable (white money) 
funds, primarily using the financial institutions as a conduit for concealment 
and disguise activities to happen.
Technically 
speaking, Board members are not required to be experts at AML knowhow, 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 responsibilities, as mandated by almost all 
the national financial regulatory authorities. Under 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 relevant requirements around the globe.
This 
course will give the BoD’s and Sr. Mgmt. an understanding of the said framework 
and will prove to be a means to appreciate the law enforcement mechanisms 
working to maintain such said equilibrium and the resultant consequences of 
non-compliance with these regulations viz. Reputation management, Shareholder’s 
interests, legal ramifications, consequences of adherence failures, etc. This 
training course designed for the Board Members, Heads of sub-committees and the 
Senior Management will equip them to have a clear compliance understanding 
towards transparency and visibility of the enterprise-wide compliance operations 
and adherence duties.
COURSE 
OBJECTIVES
At 
the end of the course, participants will be able to:
o   
Understand 
and be equipped for regulating money laundering controls, it’s set-up and 
requisite governance for regulatory violation prevention-oriented 
approach
o   
Understanding 
organizational vulnerabilities to (or complicit in) money laundering and 
measures to tighten the controls
o   
Instructive 
understanding and case studies of potential compliance failures and subsequent 
management recourse
o   
Law 
enforcement investigations, what triggers them, methods of dealing with them and 
possible remedies
o   
Executive 
liability for a compliance failure, possible scenarios, what are the next steps 
and damage control
o   
Technology 
set-up for the efficient flow of critical compliance and operational information 
for seamless adherence and governance
Board 
members who participate in this course can benefit in the following 
ways:
o   
Compliance 
failure is a personally liable offence, hence steering clear of any actions is a 
huge Personal Benefits
o   
Board 
Members get to discuss and understand the compliance and the know 
how
o   
BoD’s 
will further learn to strategize not only AML risks but any corporate risk 
mitigation against any type of risks in a structured manner and build a system 
to monitor, avoid and counter
o   
Understand 
the working of Law Enforcement network under a particular regulatory guideline 
as any anti-fraud or anti-malpractice or similar governance mechanisms are built 
in the similarly executable manner
WHO 
SHOULD ATTEND
Following 
individuals or groups will benefit from it:
o   
Board 
of Directors
o   
Senior 
Management of all functions
o   
Compliance 
personnel
o   
Legal 
team / retained-external counsel
o   
Designated 
Director / MLRO / Compliance Officer
DURATION
10 
Days
COURSE 
CONTENT:
Module 
1 – Understanding the BoD / Sr. Management’s responsibilities towards 
Compliance
o   
Appointment 
of a Designated Director / Designated Compliance Officer / MLRO (Money 
Laundering Reporting Officer)
o   
Cost 
of Compliance
o   
Penalties 
and Reputation Damage
o   
Loss 
of Operational License / Charter
o   
Personal 
Fines/Penalties
o   
Shareholder 
Dissatisfaction
o   
Protect 
the organization from being used for illegal purposes
o   
Be 
aware of the Bank’s BSA/AML programs and activities
o   
Support 
senior management in BSA/AML efforts
o   
Don’t 
ignore or downplay indications that clients may be involved in illegal or 
illicit activities
o   
Keep 
BSA/AML matters confidential
o   
Unmatching 
processes than their board-approved AML program
o   
Annual 
review and approval of BSA/AML (and related) policies, along with the 
appointment of the BSA Officer(s)
o   
Establish 
a written PMLA/AML/OFAC compliance program, that is commensurate with their OFAC 
risk profile
Module 
2 – Understanding the Basic five pillars of AML Compliance 
(AML/PMLA/BSA):
o   
Establishing 
a Culture of Compliance
o   
Written 
policies, procedures and internal controls;
o   
A 
designated BSA compliance officer;
o   
An 
employee training program;
o   
Independent 
testing of the BSA/AML program; and
o   
Customer 
due diligence procedures
Module 
3 – Co-operating with Law Enforcement
o   
Investigations 
Initiated by the Financial Institution
Responding to a Law Enforcement 
Investigation
• Investigations Initiated by the Law 
Enforcement
• 
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SUBPOENA
• SEARCH WARRANT
Module 
4 – Advance Engagements
o   
Cooperation 
Between Countries and responding to AML/CFT MLATs
International Inter-Intra 
Organizational Co-operation & Procedures
Module 
5 – Corporate Outlook
o   
Obtaining 
Counsel in the event of an Investigation Against a Financial 
Institution
Organization Reputation Management
• Media Relations & 
Correspondence
Module 
6 – Investigations Initiated by the Financial Institution
o   
Communicating 
with Law Enforcement on STRs
o   
Investigations 
Initiated by Law Enforcement
o   
Prosecutor 
Decision against a Financial Institution for Money Laundering 
Violations
o   
Response, 
Monitoring and Cooperation from the Financial Institution to a Law Enforcement 
Investigation
Module 
7 – Obtaining Counsel for an Investigation Against a Financial 
Institution
o   
Retaining 
Counsel
o   
Attorney-Client 
Privilege applied to entities and individuals
o   
Dissemination 
of a Written Report by Counsel
Module 
8 – Notices to Employees as a Result of an Investigation Against a Financial 
Institution
o   
Employee 
Interviews in the event of a Law Enforcement Action
o   
Investigation 
Against a Financial Institution
o   
Media 
Relations
Module 
9 – AML/CFT Cooperation Between Countries
o   
FATF 
Recommendations on Cooperation Between Countries
o   
International 
Money Laundering Information Network
o   
Mutual 
Legal Assistance Treaties
o   
Financial 
Intelligence Units
Module 
10 – Cost of Compliance
o   
Basic 
Resources allotment
o   
Annual 
Compliance Budget:
o   
Supporting 
Compliance Teams’ BSA/AML efforts by requisite cost 
allocation
o   
Technology 
Costs – Acquisition process -> Licensing -> Implementation -> 
Training
o   
Training/Consulting/Procurement 
Vendors Costs
o   
Hiring Experienced 
Compliance professionals
·        
GENERAL 
NOTES
o   
This 
course is delivered by our seasoned trainers who have vast experience as expert 
professionals in the respective fields of practice. The course is taught through 
a mix of practical activities, theory, group works and case 
studies.
o   
Training 
manuals and additional reference materials are provided to the 
participants.
o   
Upon 
successful completion of this course, participants will be issued with a 
certificate.
o   
We 
can also do this as tailor-made course to meet organization-wide needs. Contact 
us to find out more: training at skillsforafrica.org
o   
 The 
training will be conducted at SKILLS FOR AFRICA TRAINING INSTITUTE 

o   
The 
training fee covers tuition fees, training materials, lunch and training venue. 
Accommodation and airport transfer are arranged for our participants upon 
request.
o   
Payment 
should be sent to our bank account before start of training and proof of payment 
sent to: training at skillsforafrica.org
 
 
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