Enjoy a vivid presentation on how to build a strong AML Compliance Program by Carolyn Bell-Wisdom, Partner, Risk Assurance Services at PwC and Roxann Linton, CEO, First Heritage Co-operative Credit Union (FHC). The session is moderated by ADVANTAQ´s very own Bruce Bowen, CEO.
Overview
Carolyn discusses the different stages of money laundering, as criminals attempt to integrate illegal proceeds of their crimes into the Financial System. She also highlights the relevance of preventing terrorism financing and the key differences with Money Laundering. She reviews international and local requirements for Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT). Then she highlights the pillars and enablers that will help Financial Institutions build a strong AML/CFT/CFP Compliance Program.
With the stage set, Roxann takes us into a practical case, her own FHC experience leading the evolution of the AML Compliance Program. She explains the journey that they followed to get to the point where they are today. From building the basis and creating the right organizational mindset, where “done” is better than “perfect”. Later they migrated to the 3 lines of defense model, having an independent Nominated Officer with the right exposure within the organization and starting an Independent Audit Review of the Program.
As a third stage of their journey, FHC invested in technology and data supported by third-party solutions. A critical part of this stage was to work on KYC Compliance monitoring and remediation activities, partnering with ADVANTAQ, and together commence Compliance intelligence tasks to strengthen processes. Finally, Roxann provides FHC´s outlook for ongoing AML Compliance and enhanced customer experience.
This engaging webinar ends with a Q&A section that actively engaged all participants…you cannot miss it!
Hope that you enjoy the session!
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