Managing your AML Risk: Risk Modelling & Business Risk Assessment

Intake Opening Soon 12:00 - 14:00pm Online

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.

Course Topics:

  • Introduction to the concept of the Risk Based Approach
  • The importance of the CRA
  • Timing of CRA
  • Risk Pillars
  • Factors within the risk pillars
  • Weights within the risk pillars
  • Methodology / types of risk models (averaging / summation etc)
  • Risk classification within the risk model
  • Introduction to the BRA
  • Content of the BRA
  • Statistical data required
  • Interpreting the statistical data
  • Likelihood of events taking place
  • Impact of events taking place
  • Calculation of the inherent risk
  • Risk Mitigation Testing and the impact of mitigation level of the residual risk
  • Calculation of the Residual risk

Learning Objectives:

  • Attendees will have a better understanding on the creation and implementation of a Customer Risk Assessment
  • A clear understanding of the BRA expectations and contents

Target Audience:

  • MLROs
  • AML/KYC related audience
  • Directors of Subject Persons
  • Compliance

Assessment Questions and Answers:

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%)

Trainers

John Mark Caruana, B.Com (Hons) (Melit.), M.Sc. (Melit.), CIPPE, CIPM

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.

I'm interested in this course

If you are interested to join this course when the intake is open please fill in the form below.

Why Choose Us

MITC is made up of a close-knit team with a real passion for learning and insurance, who believe in the continuous development and empowerment of individuals through learning. We understand all of the nuances and challenges that come with insurance training and, that is why we’re here to help you get your training right.

Our courses are developed following in-depth research and consultation on the subject matter and the related market, thus ensuring participant needs are met. All our trainers are experts in their field and actively contribute towards the continuous development of the courses which they deliver.

Our training services are accredited by the Malta Further and Higher Education Authority (MFHEA) and the European Qualifications Framework platforms. MITC’s homegrown insurance programmes are recognised by the renowned Chartered Insurance Institute, UK.

Let's stay in touch

Stay updated with MITC news updates and courses. We promise not to spam your email or share your email with third parties.