Training for AML department staff

STUDY PROGRAMME OBJECTIVE

The growth of the financial sector is impossible without a constant influx of professional staff. Modern economic development trends increase requirements not only for the level of qualifications but also for the range of professional fields of specialists. The volume of information required for the professional activity of an employee is increasing rapidly, which forces an ability to find and use new technologies of work, apply them in practice, and form the capacity for constant self-education.

COREDO’s specialist training programme is a quick, easy and effective way to train qualified professionals and increase their AML awareness. Well-trained staff will help organisations meet their regulatory obligations and prevent the negative impact of money laundering, and combating of financing of terrorism risks.

All AML professionals who need to be certified as required by regulators

Professionals who are already working in the AML field and are keen to improve their knowledge and skills to reach career heights

Companies wishing to train or upgrade the skills of their AML specialists and confirm their level of qualification with the appropriate certificate

Newcomers who are interested in gaining basic knowledge to get a good start in their AML career

FOR BUSINESS

This programme is suitable for companies developing in the financial sector and whose activities are regulated by AML legislation.

We train specialists for various positions, from applied AML specialists to AML department heads, AML/KYC officers and external auditors.

The training process is primarily aimed at enhancing your employees’ ability to understand the ins and outs of AML issues and to apply the knowledge gained in practice.

HOW WILL OUR SERVICES HELP YOUR BUSINESS?

The effectiveness of all anti-money laundering and counter-terrorist financing measures depends, among other things, on the skills of your employees.

A competent and well-trained AML professional will help your business comply with all legal requirements and prevent your service from being used to commit illegal activities.

In turn, a poorly trained employee can increase a company’s costs, ranging from receiving a fine from the regulator to the cost of litigation for facilitating money laundering.

What will we train your employees to do?

At the end of the course, each employee:

Learn to navigate well through internal regulations, AML law and other legislation, and to use these documents in dealing with issues that arise;
will be able to carry out customer identification and due diligence in accordance with the legal requirements of AML law and KYC/KYB principles;
learn how to analyse information about the client and their activities properly;
learn how to determine a client’s risk profile and establish existing risk factors;
Learn the principles of developing basic AML tools – risk assessment system, Customer Due Diligence check, KYC questionnaire, etc.;
will be able to set up the trigger system independently;
will be able to identify different types of financial crime;
learn how to identify and report unusual and suspicious customer activity;
will be able to build in ways and principles of protection against the risks of money laundering and terrorist financing;
will be able to set out staff responsibilities and apply a risk-based approach to combating money laundering and terrorist financing;
learn how to adapt the measures and initiatives adopted by various anti-money laundering and CFT organisations to the company’s internal needs.

FOR PROFESSIONALS

This training programme is designed for those who wish to start a career in the AML field or who already hold some position in the field. The training programme covers the main aspects of money laundering and initiatives taken to combat terrorism, including financial institutions’ regulations. The programme focuses on the role of the officer from a practical perspective. Participants in this programme will learn about the importance of customer due diligence and sanctions monitoring, and examine the risks associated with emerging industries such as cryptocurrency and electronic payments.

How will our services help your career development?

By the end of this programme, you will be able to

to navigate through legislation and use it to solve practical problems;
Learn basic techniques for countering money laundering and terrorist financing;
explain the concept of AML issues and understand their impact on the financial services sector and the broader economy;
learn how to analyse the client and their activities;
carry out customer identification and due diligence;
determine the risk profile and individual risks of clients;
establish measures to counter money laundering using a risk-based approach.

In addition, as part of the training, you will:

Learn how to apply what you have learned in practice by working through various AML cases.
Learn basic AML terminology to interpret the requirements and regulations of the AML law correctly;
Become familiar with the legal and regulatory frameworks governing AML and their guidance on anti-money laundering and countering the financing of terrorism.

A deeper understanding of AML practices, problems and solutions

A better understanding of the tasks involved and confidence in their successful completion

The ability to correctly report on client activities and transactions

Increased ability to lead, develop and motivate colleagues

In addition, our training programme will help you meet the regulator’s requirements for the certification of your AML specialists.

TRAINING METHODOLOGY

The training programme is results-oriented and practice-oriented. COREDO experts will provide participants with all relevant information and then help them to assimilate it through discussion and practice. The training programme includes support materials, case studies, live group briefings, presentations and relevant assignments to enhance learning. In addition, training participants will receive an overview of anti-money laundering and counter-terrorist financing best practices.

Ample time is allocated in the programme for a Q&A session, where participants can ask the trainer questions and receive appropriate answers. This training will provide and reinforce key aspects of the AML subject in an inspiring and engaging learning environment.

FORM OF TRAINING

The training programme can be organised as individual lectures at the COREDO office in Prague or as online training. To participate in the online training, the trainee must have the appropriate software: Zoom and a proper internet connection. In addition, for a fee, COREDO specialists can provide training directly at your office.

THE SCOPE AND PRICE OF THE TRAINING

COREDO offers the following training programmes, designed both for basic knowledge of the AML field and for more in-depth study of the field.

Volume	Price
6 academic hours (1 day of training)	960 euros per person	Order
18 academic hours (3 days training)	2 520 Euro per person	Order
30 academic hours (Study week)	3,600 euros per person	Order

* The training programme should be chosen according to your professional activity, as a payment service provider may need 18 to 30 hours of training, while a notary may only need 6 hours of training.

* Please note that the price of tuition is exclusive of VAT

Theoretical part

In the theoretical part, the participant will have to pass a test consisting of both open-ended questions and multiple choice questions. During the theoretical part, the professional will have to demonstrate knowledge of the basic principles of money laundering as well as the ability to navigate the legal and regulatory framework.

Practical part

In the practical part, the practitioner will have to analyse the case, identify the risks and describe the necessary actions to combat money laundering. During the practical part, the practitioner should present the results of their audit.

CERTIFICATE

The main requirement of the regulatory authorities for an AML professional is sufficient knowledge and skills in the field, including an understanding of the applicable AML regulatory framework. The required knowledge and skills should always be documented.

After completing the training programme and a short assessment, each participant receives a personalised certificate.

TRAINING FOR AML DEPARTMENT STAFF