MLRO - The Role, Responsibilities & Risks

Introduction

You’ve just been given the job of MLCO, MLRO or deputy MLRO.

What does that mean and what happens next? You’ve always attended the anti-money laundering training your business has provided so how much more do you need to know?

Delivered by expert speaker Joanna Morris, this webinar will give you an overview of the role itself, the responsibilities that comes with the roles and the risks that you need to consider.

What You Will Learn

This webinar will cover the following:

• Record of appointment and your responsibilities (job description)
• Notification to your regulator
• Regulators guidance
• Risk assessments including:
• The National Risk Assessment (NRA)
• Risk assessment of your regulator
• Your business wide risk assessment
• Your client/customer and matter/file risk assessment
• Policies, controls and procedures
• Training
• Managing risks around:
• Client/customer inception and due diligence
• Source of wealth and source of funds
• High risk clients and Politically Exposed People (PEP)
• MLRO reporting including:
• New user registration with the National Crime Agency (NCA)
• Internal reports to the MLRO
• External reports by the MLRO to the NCA
• Dealing with law enforcement
• MLRO record keeping
• Relevant legislation and keeping yourself up to date
• Monitoring compliance
• Internal and external audits
• Reporting to the board

This webinar was recorded on 29th September 2021

Quick Quiz - Test Your Knowledge: Money Laundering