| Subject: | “AML and Management of High Risk Clients” |
| Date: | Thursday 14 April 2022 |
| Time: | 10:00-13:00 |
| Venue: | ONLINE via ZOOM |
| Language: | English |
| CPE Points (Continuous Professional Education): | 3 CPEs |
| Instructor: | Mr. Dennis Cox (BSc, FCA, FCSI, BFP, AIIA) |
| Outline: |  Seminar Outline |
| Registration Form: | Seminar Participation |
| Details: | The 6th Money Laundering Directive (6DML) came into force in June 2021 and has added further complexity and … Read More |
Overview
The 6th Money Laundering Directive (6DML) came into force in June 2021 and has added further
complexity and regulatory risk to this area of intense regulatory focus and political sensitivity.
In the meantime, money laundering and terrorist financing threats are becoming increasingly
diverse and complex, so that traditional AML approaches are no longer sufficient, particularly
when dealing with High-Risk Clients.
This course considers what makes a client high risk and what actions a firm needs to take in
such cases.
Target Audience
Although this workshop is especially designed for professionals in the wealth management
sector, to clarify specific regulatory challenges and benchmark AML approaches with industry
peers, it is also of significant value to professionals from:
• AML/CTF
• Financial Crime
• Compliance
• Risk and Internal Audit departments
• Employees in client facing roles who either face conflicts and/or ‘relationship
management’ dilemmas
Primary objectives
This 3-hour event will help delegates to update on the new anti-money laundering
requirements and provide a unique opportunity to benchmark current approaches against
industry best practice.
Key issues addressed will include:
• Identifying key money laundering risks and developing effective risk-based controls
• Cross-border issues, including tax and “equivalence”
• How to produce effective Customer Due Diligence policies and procedures
• Managing high risk areas such as sanctions, PEPs and HNW Customers
• Effective systems and controls to monitor AML under new regulations
Methodology
A mixture of a virtual presentation and discussions taken from up-to-the-minute and real-life
examples.
The topics will be structured over (3) 40 minute sessions, allowing for 15-20 minutes of
discussion and Q&A and a 10-15 minute break between each session.
Instructor
Mr Dennis Cox (BSC, FCA, FCSI, BFP, AIIA) is the Chief Executive of Risk Reward Ltd, where he
oversees all consulting and training projects. A UK Chartered Accountant and internationally
recognized financial services risk management, compliance, internal audit and financial crime
expert, he specializes in the interdisciplinary forward-looking impact of and opportunities of
regulation, digital technologies, and the challenges surrounding credit, market, liquidity/treasury
and operational risk, as well as successful compliance implementation techniques and model
validation assessment, robustness and best practise.
He has more than 30 years of experience in the areas of risk, banking, financial crime, audit, and
accounting, and has held senior management positions within the banking and accountancy
professions as Head of Internal Investigations (HSBC Global Bank), Director, Risk Management
(HSBC Insurance Brokers), and Director, Risk Management (Prudential Portfolio Managers).
Formerly, he held a number of roles within the audit profession, including Senior Audit Manager
(Compliance) at HSBC Holdings PLC and Senior Manager (Banking and Finance) at both BDO
Binder Hamlyn and Arthur Young (now Arthur Anderson and Ernst & Young).
Throughout 2019 he was seconded to a Global Tier 1 Bank to produce and field conduct an
interactive case study-focused intensive AML and Fraud escalation training programme in six cities
for the benefit of 250+ non-fraud or financial crime directors, managers and staff. Between 2011-
2019, he designed the learning content and had oversight for the virtual webinar and 25-multiple
language expert/trainer delivery roll-out of similar training worldwide to the same bank’s various
departments throughout Asia, the Middle East, Europe and the Americas. In the same period, he
was responsible for the design and face-to-face training of risk managers within governmental
agencies and Central Banks, including in the USA, for the FDIC, Federal Reserve Bank of New York,
Bank of England, the Central Banks of Nigeria, Ghana, South Africa, Kenya, Morocco, Saudi Arabia,
the Singapore Monetary Authority, Hong Kong Monetary Authority, Bank of Japan, Bank Negara,
Malaysia, Taiwan, the European Union), bank trade associations and their member banks, plus
national training organisations (British Bankers Association, Taiwanese Academy of Banking and
Finance, Association of Cyprus Banks.
He is a Fellow, Co-founder and former Chairman of the Risk Forum for the UK Chartered Securities
and Investment Institute and administers the Risk Reward Global Risk Forum on LinkedIn. A
Fellow of the Institute of Chartered Accountants (FCA), he has also been a National Council
Member for 17 years. He teaches the Global Financial Compliance; Combatting Final Crime and
the Conduct Risk courses, as examination preparation for certification by the CISI.
He holds an honours degree in Mathematics from the London University Westfield College.
A much in-demand speaker and trainer known for his highly-interactive, practical, job-role
approaches, ease of communicating complex topics into an enjoyable social learning experience
with wit and personal attention to delegates, Mr. Cox is the author of An Introduction to Money
Laundering Deterrence and The International Handbook of Money Laundering Deterrence, and
Banking and Finance: Accounts, Audit and Practice. He is also the co-author of The Mathematics
of Banking & Finance, as well as the senior editor and author of several chapters in The Frontiers
of Risk Management, and Enterprise Risk Management in a Nutshell Volumes 1 and 2.