Developing and Managing Effective AML/CTF Assurance Programs

Why Should You Attend:

Developing an AML/CTF program and ensuring the effectiveness of the implementation and actual performance is critical. Most regulatory actions against reporting entities has not been for actual money laundering, it has been for failures to implement or maintain the processes that underpin your program.

With increased focus on making AMLCO’s or MLRO’s accountable for performance of programs, what should you do to ensure that you know each element of the program is performing as it should. How do you re-assure your board and senior management that the program is effective?

Have you been able to establish base line performance and understand your actual staffing and/or technology requirements to maintain the program across the entire business?

With a geographically or product diverse business it can be difficult to understand how each business unit or line of business is performing. Establishing a compliance assurance program can help with this and provide an early warning where business units’ processes are not performing as effectively as required. Rather than waiting for an internal audit review cycle you should be able to identify issues as they become evident rather than being advised of the issue 12 – 18 months after it started.

This webinar will work through the intricacies of understanding the risk of not knowing, developing and implementing a compliance assurance program and implementing it.

We’ll discuss:

• What is at high risk of failure?
• What are critical functions that must not fail?
• What tolerance levels are there for backlogs?
• What QA is being performed by the business and can you rely on it?
• Are there functions in your program that aren’t being reviewed for performance?
• Reviewing the performance of outsource partners.

Learning Objectives:

• Understanding potential failure points
• Developing a compliance assurance program
• Dealing with outsource partners who may be performing key functions on your behalf
• Identifying data you can rely on
• Identifying the level of ongoing monitoring

Areas Covered in the Webinar:

• Program Governance
• Encouraging compliance and undertaking assurance programs
• Examples of issues (case studies throughout the webinar)
• Making the lines of business responsible and accountable
• Using the data gathered to make a case for change
• Assessing and monitoring contract performance for 3rd party outsourcing
• Monitoring and testing for compliance

Who Will Benefit:

The following professionals from Banks and Financial Institutions operating in Australia:

• Board Members,
• CRO,
• MLRO,
• AML/CTF teams
• financial crime compliance managers,
• compliance staff,
• Legal
• Regulatory
• Compliance
• Internal and Independent Auditors
• Staff with Roles and Responsibilities in AML Management and Oversight
• Risk and Compliance Management
• Compliance Analysts
• Operational Risk Managers

David Harley
Director, Delta Financial Crime Consulting Pty Ltd

David is an exceptionally skilled and effective Anti-Money Laundering, Anti-Corruption and Anti-Fraud professional with over 30 years of experience preventing, detecting and resolving issues that relate to fraud and corruption. He has acquired extensive experience across a broad range of industries and products, with comprehensive specialist expertise in the areas of Financial Services, Gambling, Mining and Government. Has taken the investigative lead in a range of anti-money laundering assignments, fraud and corruption investigations and fraud risk management engagements across multiple jurisdictions, including Australia, Bangladesh, China, the Philippines, Indonesia, Cambodia, Fiji, Papua New Guinea and the Pacific Islands.

David worked in law enforcement investigating serious and organized crime before moving to Financial Services where he worked in and managed financial crime functions for two Australian banks. In 2008 he joined PriceWaterhouseCoopers and led the forensic services teams in Brisbane and then Melbourne as an Executive Director / Principal. David was responsible for and lead many engagements in relation to AML/CTF and Sanctions for some of Australia’s largest banks and supported reviews of overseas banks. In 2014 David left PwC, on good terms, to work for himself, occasionally contracting back to PwC. From July 2015 to March 2016 David contracted to Tabcorp as an SME, assisting initially in the litigation and then in the development and implementation of a new AML/CTF program. This included working with the Financial Crime team and for a period managing the operations team which included transaction monitoring, ECDD and managing high risk customers across the globe.

David possesses an extensive repertoire of strategic and tactical knowledge and skills, including forensic technology, forensic accounting, data analysis and a range of investigation skills/methodologies, and is able to provide commercially and ethically sound remediation recommendations and systems-based solutions to mitigate future risks. He takes a holistic approach to risk and issue management and is committed to leaving a lasting and beneficial impact on businesses that extends long after the engagement is completed.

David is a registered auditor for the purposes of the Australian AML/CTF act, a Certified Anti-Money Laundering Specialist and a Certified Fraud Examiner.

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