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:
Board members who participate in this course can benefit in the following ways:
WHO SHOULD ATTEND
Following individuals or groups will benefit from it:
DURATION
10 Days
COURSE CONTENT:
Module 1 – Understanding the BoD / Sr. Management’s responsibilities towards Compliance
Module 2 – Understanding the Basic five pillars of AML Compliance (AML/PMLA/BSA):
Module 3 – Co-operating with Law Enforcement
Module 4 – Advance Engagements
Module 5 – Corporate Outlook
Module 6 – Investigations Initiated by the Financial Institution
Module 7 – Obtaining Counsel for an Investigation Against a Financial Institution
Module 8 – Notices to Employees as a Result of an Investigation Against a Financial Institution
Module 9 – AML/CFT Cooperation Between Countries
Module 10 – Cost of Compliance
GENERAL NOTES
Dates | Fees | Location | Apply |
---|---|---|---|
11/12/2023 - 22/12/2023 | $2700 | Nairobi | Physical Class Online Class |
15/01/2024 - 26/01/2024 | $3000 | Nairobi | Physical Class Online Class |
12/02/2024 - 23/02/2024 | $3000 | Mombasa | Physical Class Online Class |
11/03/2024 - 22/03/2024 | $3000 | Nairobi | Physical Class Online Class |
08/04/2024 - 19/04/2024 | $3950 | Kigali | Physical Class Online Class |
13/05/2024 - 24/05/2024 | $5500 | Dubai | Physical Class Online Class |
10/06/2024 - 21/06/2024 | $3000 | Nairobi | Physical Class Online Class |
08/07/2024 - 19/07/2024 | $3000 | Nairobi | Physical Class Online Class |
12/08/2024 - 23/08/2024 | $3000 | Nairobi | Physical Class Online Class |
09/09/2024 - 20/09/2024 | $3000 | Nairobi | Physical Class Online Class |
14/10/2024 - 25/10/2024 | $3950 | Kigali | Physical Class Online Class |
11/11/2024 - 22/11/2024 | $3000 | Mombasa | Physical Class Online Class |
09/12/2024 - 20/12/2024 | $3000 | Nairobi | Physical Class Online Class |