Risk management - general and for AML / real-life examples / step-by-step AML company risk assessment + sources

What you'll learn

Information on what is risk management (ancient and modern) and a description of the risk management cycle within any company

The definition of money laundering and the basic requirements of the anti-money laundering regulations - a practical approach, with real-life examples

Knowledge on how to perform an anti-money laundering risk assessment for a company - a practical approach with real-life examples

A step-by-step approach to an AML risk assessment + reliable sources to use

Learning methods to master this subject (and any other one)

Requirements

No prior knowledge is required. Being a practitioner in the field of AML compliance would be an advantage, but in order to be able to understand the anti-money risk assessment process, I included some general information on risk, risk managing, risk assessment and money laundering. Therefore, it is also suitable for aspirants.

Description

I made the “AML - Risk Management and Company Risk Assessment” course in order to share with the world my integrative approach to law and anti-money laundering.

The initial purpose of this course was to discuss the anti-money laundering (“AML”) company risk assessment and share my methods/sources.

However, because all new learning requires a foundation of prior knowledge, in order to be able to understand the anti-money laundering risk assessment process, I included some general information on risk, risk managing, risk assessment and money laundering.

The course defines the notion of risk in general, goes into detail on how do companies manage risk and what is the actual process, provides a brief introduction on anti-money laundering and the AML program that the law requires any obliged company to have and, finally, goes into detail on how to actually perform a comprehensive AML risk assessment (which is actually the foundation of the AML program and, therefore, what any professional should start with).

This also makes this course great not only for professionals, but also for aspirants, because as you may have noticed, anti-money laundering seems to get more and more popular and a lot of companies are looking for specialists.

As part of the integrative approach that I developed for myself to study law, my course consists not only of legal provisions regarding anti-money laundering, but also of

explanations of the legal provisions and corporate processes and practices;

practical, real-life examples for the notions that we are presented with by the legislation;

information on how to actually do the activities that the law requires (for example, how to control and monitor risk, how to draft a realistic risk appetite statement – all of it learned through my practice and several audits);

information on what conduit to adopt, as a professional, and tips and tricks to avoid professional liability;

suggestions of sources to be used when performing the risk assessment; and

learning methods that I use.

I also aim at sharing historical background (did you know that risk management is as old as the Hammurabi Code?), because it’s essential to understand the reasons behind some of our collective behaviors (and also to learn from our past).

The “homework” I made provides the exact methods I use in order to truly understand the notions and make sure that I will be able to retrieve this information in the future.

Last but not least, I want to share something that I cannot stress enough (you’ll also hear in the course): If you want to be a successful anti-money laundering professional, the legal and regulatory aspects are necessary, but not enough. You will need to really understand the products and business of the company you work for, in order to understand how it can be used for laundering money. For example, how is money lent, how are agricultural lands sold, how many types of insurance are there, etc. You have to know anything the launderer knows and a little more.

I hope you will find my course helpful. I also hope that this somehow informal method will motivate you to question and dissect everything you are presented with until you understand how it impacts the world and, implicitly, yourself.

Good luck!

Who this course is for

Professionals in the field of AML compliance and aspirants.