This session will focus on the AML Risk management of subject persons. The first part of the session will be related to details of developing and applying a Customer Risk Assessment and the required pillars within such risk model. The second part of the session will focus on more holistic Business Risk Assessment and how such BRA should be drafted in accordance with the regulatory obligations as published by the FIAU.
Description:
This session will focus on the AML Risk management of subject persons. The session will go into details of developing and applying a Customer Risk Assessment and the required pillars within such risk model. The session will go into detail into the risk scoring factors, weights and methodology within such CRA. The Customer Risk Pillar, Channel Risk Pillar, Service Risk Pillar and Jurisdiction Risk Pillar will be analysed.
The second part of the session will focus on the more holistic Business Risk Assessment and how such BRA should be drafted in accordance with the regulatory obligations as published by the FIAU. This would include the contents of the BRA, including statistical data expected, risk mitigation testing, identification of risk, inherent risk calculation, residual risk calculation and other material that needs to be included within such risk assessment.
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In line with MFSA requirements, a short multiple-choice assessment will be provided by the trainer towards the end of the session. A Certificate of Attendance will be awarded to all students who attend the CPD (duration will be included on certificate). A Certificate of Achievement will be awarded to those who sit for the assessment and are successful (pass mark 60%)
John Caruana is an Anti-Money Laundering (AML) expert with over 15 years of experience in the field. He has a wealth of knowledge in various sectors, including securities, auditing and accounting, and iGaming. As one of the co-founders of Radix Group in Malta, John currently serves as the Compliance Director of Radix Compliance, which is the Group’s AML Consulting arm.
John holds a B.Com (Hons) in Banking & Finance and an M.Sc. in Banking & Finance, both of which were earned at the University of Malta. Additionally, he is a Data Privacy Professional, holding two international certifications in Data Protection from the International Association of Privacy Professionals: the CIPP/E and the CIPM. His expertise in data privacy has been recognised by the Malta Gaming Authority, which has authorised him to serve as a Data Protection Officer.
John’s professional credentials also include Compliance Officer roles authorised by the Malta Financial Services Authority (MFSA) in the CSP and Trust & Trustees sectors. Furthermore, he serves as a Money Laundering Reporting Officer, a testament to his experience and expertise in the AML domain.
In the past decade, John has also lectured on various topics related to securities, Compliance, AML, and GDPR, showcasing his dedication to educating others in the field.
