PAT FinTech

Professional Certificate in Fintech AML Cycle

Professional Certificate in Fintech AML Cycle

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10 ECTS Level 8 NFQ            Next Course Starts: February 9th 2022            From: Euro 560

Limited availability for February 2022. Register your interest & download the syllabus & timetable today.

100% on-line, recorded, interactively scenario focused, and delivered by industry practitioners over 12 weeks.

Classes every Wednesday @ 6pm – 10pm from February 9th to April 27th

This course examines the AML Compliance Cycle from initial risk assessment on prospective new clients through to the enforcement of AML sanctions.

The course enables learners to identify the core requirements and contemporary (technologically enhanced) best practice in the risk assessment, client onboarding, and life cycle management of client accounts from the perspective of both the financial institutions and professional service providers (for example: accountants and auditors) providers.

Utilising vendor demonstrations and real-world scenarios this course also examines specific examples – for example: information sharing and analytical resources – of how technology can enhance the effectiveness of the AML compliance cycle.

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Description

This course examines the AML Compliance Cycle from initial risk assessment on prospective new clients through to the enforcement of AML sanctions.

Initially, the course identifies the core requirements and contemporary (technologically enhanced) best practice in the risk assessment, client onboarding, and life cycle management of client accounts from the perspective of both the financial institutions and professional service providers (for example: accountants and auditors) providers.

The course then addresses the challenges – for example: the quality of data and utilisation of predictive analysis – in providing the competent authorities and the relevant FIU’s with actionable STR information. Finally, the course examines specific examples – for example: information sharing and analytical resources – of how technology can enhance the effectiveness of the AML compliance cycle.

 

Outcomes
On the successful completion of this module learners will be able to:

  1. Evaluate the critical inter-related stages of the AML Compliance Cycle the perspective of the key stakeholders in the Irish AML Framework.
  2. Assess the AML/CTF regulatory requirements, Central Bank guidance, and contemporary best practice for the risk assessment of new counterparties and customers.
  3. Demonstrate contemporary best practice in the onboarding, and lifecycle management, of new counterparties/clients in an evolving regulatory and technological (Fintech) environment.
  4. Analyse the effectiveness of transaction monitoring processes, the quality of STR information, and the potential of technologically enabled solutions in the AML Compliance Framework.
  5. Identify the challenges – regulatory, information sharing, and optimising resources – in investigating STRs and enforcing AML sanctions.
  6. Contextualise the importance of stakeholder co-operation, and analyse the potential for technologically enhanced solutions to enhance the effectiveness of the AML prevention & enforcement.

 

Assessment

One Applied Research Report – 40%
Final Examination – 60%

Course Syllabi

1: AML Cycle
Evaluates the critical inter-related stages of the AML Compliance Cycle – from initial business assessment risk to enforcement of sanctions – from the perspective of the key stakeholders in the effectiveness of the Irish AML Framework.

2. AML Risk Assessment
Assesses the AML/CTF regulatory requirements, Central Bank guidance, and contemporary best practice for the identification, verification, risk assessment, and continuing due diligence of new counterparties and customers.

3. AML Onboarding & Life Cycle Management
Demonstrates contemporary best practice in the onboarding, and lifecycle management of new counterparties/clients in the context of evolving EU Directives and the potential for innovative solutions to address the core Anti-Money Laundering (AML) compliance and regulatory risks in a Fintech operating environment.

4. AML Transaction Monitoring & STR’s
Analyses the Central Bank and EU guidance of the implementation of effective transaction monitoring and STR reporting in the context of the Irish AML Framework, evolving regulatory requirements, and potential for innovative solutions to mitigate these risks.

5. AML Investigation & Enforcement
Identifies the challenges – regulatory fragmentation, information sharing, and FIU resources – in investigating STRs, and assess proposals to enhance the enforcement of AML sanctions in the Irish AML Framework.

6. AML Collaborations
Contextualises the importance of co-operation of stakeholders in the Irish AML Framework, and analysesthe potential for technologically enhanced solutions to enhance the effectiveness of the AML prevention & enforcement.

 

Additional information

Funding Type

IFS Funded Payment, Direct Payment, IFCA Members (Direct Payment), ENFCO Members (Direct Payment)