Duration 3 days – 21 hrs
Overview.
The Enterprise Risk Management (ERM) for Banks Training Course is designed to provide banking professionals with a comprehensive understanding of ERM principles and practices. This course focuses on developing a holistic approach to managing all types of risks in banking—including credit, market, operational, and liquidity risks—through an integrated ERM framework. Participants will learn how to create risk governance structures, establish risk appetite, align with regulatory standards, and foster a risk-aware culture within the organization.
Objectives
- Identify and assess AML-related risks in financial transactions and customer profiles.
- Conduct effective customer due diligence (CDD) and know-your-customer (KYC) procedures.
- Implement robust transaction monitoring and reporting mechanisms to detect suspicious activities.
- Apply a risk-based approach to AML that aligns with regulatory standards.
- Understand the regulatory expectations and penalties for non-compliance with AML requirements.
Audience
- AML Compliance Officers
- Risk and Compliance Managers
- Bank Officers and Relationship Managers
- Internal Auditors focusing on compliance and risk management
- Legal and Regulatory Affairs Professionals in banking
- Financial Crime Investigators and Analysts
- Banking Professionals involved in customer onboarding and transaction monitoring
Pre- requisites
- Basic understanding of financial transactions and banking operations.
- Familiarity with compliance principles is beneficial but not required.
Course Content
Introduction to Anti-Money Laundering (AML) and Financial Crime
- Overview of financial crime and its impact on the banking sector
- Key principles and objectives of AML regulations
- Introduction to Philippine AML laws and international AML standards
AML Risk Identification and Assessment
- Understanding the risk of money laundering and financial crime
- Key factors in assessing AML risk: geography, product type, customer type, and transaction type
- Building effective AML risk assessment frameworks within financial institutions
Customer Due Diligence (CDD) and Know Your Customer (KYC)
- Importance of CDD and KYC in AML compliance
- Conducting customer due diligence: identity verification and profiling
- Enhanced due diligence (EDD) for high-risk customers
- Ongoing monitoring and periodic reviews of customer relationships
Transaction Monitoring and Reporting
- Key components of transaction monitoring systems
- Identifying and investigating suspicious transactions
- Filing suspicious transaction reports (STRs) and currency transaction reports (CTRs)
- Best practices for managing regulatory reporting requirements
Risk-Based Approach to AML
- Overview of the risk-based approach in AML compliance
- Tailoring AML measures based on risk profiles and regulatory requirements
- Balancing compliance with operational efficiency
- Case studies: Effective risk-based approaches in AML compliance
Regulatory Expectations and Penalties
- Overview of the regulatory landscape for AML in the Philippines
- Key AML regulatory bodies and their roles (e.g., BSP, AMLC)
- Understanding penalties for non-compliance with AML laws
- Preparing for regulatory audits and minimizing penalties
Implementing AML Policies and Procedures
- Developing and implementing AML policies and procedures in financial institutions
- Training staff on AML regulations and best practices
- Role of internal audits and assessments in ensuring compliance
Case Studies and Practical Application
- Analysis of AML case studies involving Philippine and international banks
- Lessons learned and best practices from real-world AML scenarios
- Workshop: Conducting an AML risk assessment and implementing a CDD program
Emerging Trends and Future Considerations in AML
- Understanding the impact of technology on AML (e.g., AI and machine learning for transaction monitoring)
- Emerging trends in AML regulations and the future of financial crime prevention
- Adapting AML frameworks to counter evolving financial crime tactics
