MLRO Certification

Virtual Self-Paced Online Training
Cost: $499 USD

The RAW Compliance MLRO Certification sets a new gold standard in compliance certification training for Money Laundering Reporting Officers (MLROs). This comprehensive program is designed to enhance the essential skills and knowledge required to excel in MLRO roles, blending practical exercises with real-world risk scenarios.

Unlike traditional training, our certification goes beyond theory, equipping participants with actionable strategies in anti-money laundering regulations, compliance, and risk management. MLROs will gain the tools needed to conduct risk assessments, develop training, create detailed reports, support audits, and effectively communicate with regulators.

Our hands-on approach ensures that MLROs are not just knowledgeable but also adept at applying their skills in real-time situations, empowering them to navigate complex regulatory challenges confidently. By fostering strong stakeholder relationships and ensuring organizational compliance, the RAW Compliance MLRO Certification is a transformative opportunity for any MLRO looking to make a significant impact in their field.

Participants will be assessed through multiple-choice tests, with certification awarded to those scoring 75% or above.

​Join us to elevate your professional capabilities and lead the way in compliance excellence!

We are also passionate about ensuring global country coverage - and our list of coverage is continually expanding across all continents. If you dont see a country covered and you would like to include it please reach out to us directly at [email protected].

Americas

United States
​Canada
Brazil
Mexico
Panama
Argentina
Venezuela

Europe

Ireland
UK
France
Germany
Netherlands
Russia
Malta
Switzerland
Luxembourg
​Belgium

Africa

South Africa
Nigeria
Ghana
Egypt
Mauritius
Kenya
Seychelles
​Morocco

Middle East

UAE
Bahrain
Cyprus
Israel
Qatar
Saudi Arabia
Turkey
​United Arab Emirates (UAE)

Asia

India
Pakistan
Singapore
Hong Kong
China
Australia
New Zealand
South Korea
Japan
Phillipines
Thailand
​Malaysia

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Course Contents 

Part 1: The Role of an MLRO
I. Introduction

• The role of an MLRO - overview of the role and expectations
• Experience, skillsets and qualifications 
• Regulatory appointment requirements

Part 2: Global Regulatory Landscape
I. Regulatory Landscape

• Comparative overview of various global regulatory financial Crime regulators and rulebooks
• UK Focused - FCA regulations related to Financial Crime
• Recent updates and changes in regulatory requirements including case law and news articles for risk awareness in new and emerging risks

II. Regulatory Forecast

• Anticipating future regulatory changes and trends in AML
• Strategies for staying ahead of evolving compliance requirements
• Industry experts providing insights into the regulatory landscape over the next few years

Part 3: First 90 days – upskilling in awareness of risks in your new role
I. The Importance of Your First 90 Days

• Essential steps for MLROs in their initial 90 days in the role
• Building relationships with key stakeholders, both internal and external
• Developing a strategic plan for AML program risk understanding, awareness and key risks/enhancement within the first 90 days

II. Focus on Senior Executive Interactions

• Importance of fostering a culture of compliance from the top-down
• Effective communication strategies for MLROs with senior executives
• Case studies highlighting successful senior executive engagement in AML initiatives

Part 4: AML Risk Assessment 
I. Identifying AML Risks

• Risk categories
• Red flags and indicators of money laundering
• Conducting risk assessments: tools and methodologies

II. AML Risk Assessment Process

• Steps for conducting an AML risk assessment
• How to document and provision of templates
• Gathering and analyzing relevant data.
• Assessing risk levels and prioritizing risks.
• Documenting findings and recommendations into the template and calculation of actual versus control mitigated residual risk

Part 5: Financial Crime Control Processes – CDD and Transaction Monitoring
I. Client File Reviews

• Importance of thorough client file reviews in AML compliance
• Developing effective client file review procedures.  
• Case studies highlighting the impact of robust client file reviews on detecting and preventing money laundering activities
• Break out session - Conducting client files reviews: Natural Person, Legal Person and Legal Arrangements

II. Transaction Monitoring

• Role of transaction monitoring in identifying suspicious activities
• Choosing, Implementing and Calibrating transaction monitoring systems
• Real-life examples showcasing the success of transaction monitoring in preventing financial crimes and Industry trends and emerging challenges in transaction monitoring
• Break Out Session - Performing Transaction Monitoring Alert Reviews
• Continuous improvement strategies for transaction monitoring

Part 6: Reviewing your Risk Controls
This section provides a structured framework for MLROs to review and enhance manual and automated risk procedures and workflows.

By following a systematic assessment framework and implementing improvements based on review findings, participants can strengthen their organization's risk management practices and ensure compliance with regulatory requirements- to gain valuable insights into optimizing their manual monitoring processes for better compliance outcomes.

Section a: Manual Procedures
I. Introduction to Manual Risk Procedures and Workflows

• Define manual risk procedures and workflows
• Importance of effective risk management in regulatory compliance
• Overview of the compliance officer's role in reviewing manual processes

II. Understanding Key Risk Procedures

• Overview of manual risk procedures commonly used in compliance​, key risk areas and associated procedures

• Roles and responsibilities of stakeholders involved in manual risk management

III. Assessment Framework

• Introduction to a structured assessment framework for reviewing manual risk procedures
• Key performance indicators (KPIs) for evaluating effectiveness
• Criteria for assessing adherence to regulatory requirements and internal policies

IV. Review Process

• Step-by-step guide to conducting a comprehensive review of manual risk procedures and workflows
• Techniques for gathering relevant data and documentation

• Tools and templates for organizing review findings

V. Identifying Gaps and Areas for Improvement

• Analysis of review findings to identify gaps or deficiencies in current practices
• Common challenges and shortcomings in manual risk procedures
• Prioritization of areas for improvement based on risk severity and impact

VI. Implementing Enhancements

• Strategies for implementing enhancements to manual risk procedures and workflows
• Collaboration with relevant stakeholders to address identified gaps
• Consideration of technological solutions to streamline manual processes

VII. Monitoring and Continuous Improvement

• Importance of ongoing monitoring to ensure sustained effectiveness
  Establishment of performance metrics to track improvements over time
• Integration of feedback loops for continuous process improvement

Section b: Automated Procedures
I. Introduction to Automated Controls

• Define automated controls and their role in compliance
• Importance of automated controls in detecting and preventing compliance risks
• Overview of the compliance officer's role in reviewing automated control

II. Understanding Automated Control Mechanisms

• Types of automated controls commonly used in compliance
• Explanation of control mechanisms and their functions
• Identification of key control points and associated risks

III. Assessment Framework

• Introduction to a structured assessment framework for reviewing automated controls
• Key performance indicators (KPIs) for evaluating control effectiveness
• Criteria for assessing reliability, accuracy, and completeness of automated controls

IV. Review Process

• Step-by-step guide to conducting a comprehensive review of automated controls
• Techniques for gathering relevant data and documentation
• Tools and software for analyzing control performance and effectiveness

V. Testing and Validation

• Importance of testing and validation in assessing the reliability of automated controls
• Methods for conducting test scenarios and simulations
• Validation of control outputs against expected results

VI. Identifying Weaknesses and Areas for Improvement

• Analysis of review findings to identify weaknesses or deficiencies in automated controls
• Common challenges and limitations in automated control mechanisms
• Prioritization of areas for improvement based on risk severity and impact

VII. Enhancement Strategies

• Strategies for enhancing the effectiveness of automated controls
• Collaboration with IT and technology teams to implement control improvements
• Consideration of regulatory requirements and industry best practices in control enhancements

VIII. Monitoring and Continuous Improvement

• Importance of ongoing monitoring to ensure sustained effectiveness of automated controls
• Establishment of performance metrics to track control performance over time
• Integration of feedback loops for continuous control improvement

Section c: Assessing Your Technology Needs 
I. Identifying Right Technology Needs

• Reviewing and Assessing the financial crime technology requirements for your business including name screening and transaction monitoring
• Practical considerations in selecting and implementing technology solutions for effective anti-money laundering measures
• Integration of artificial intelligence and machine learning in transaction monitoring
• Case studies demonstrating successful outcomes from utilizing cutting-edge technology in combating financial crimes

Part 7: Financial Crime Investigations, Assurance, Inspections and Reporting
I. Ongoing Reporting

• Ensuring ongoing compliance with FCA regulations
• Reporting requirements and mechanisms for MLROs
• Case studies of compliant organizations

II. Suspicious transaction assessment and FIU reporting 

• Advanced techniques for assessing suspicious transactions
• Criteria for escalating transactions to the Financial Intelligence Unit (FIU)
• Collaboration with the FIU in reporting and investigating suspicious activities
• Understanding the role of the Financial Intelligence Unit (FIU)
• Navigating the process of reporting suspicious transactions to the FIU
• Collaborative approaches between MLROs and FIUs in conducting investigations - Enhancing collaboration between MLROs, FIUs, and law enforcement
• Navigating cross-border implications in FIU reporting and investigations
• Incorporating lessons learned from complex and high-profile cases into AML programs

III. Annual AML Report

• Crafting comprehensive and accurate annual reports for regulatory authorities
• Highlighting key metrics and success stories in annual reports
• Addressing challenges and common pitfalls in annual reporting processes
• Integrating FIU reporting outcomes into comprehensive annual reports
• Demonstrating the impact of FIU collaboration on AML program effectiveness
• Common challenges and best practices in annual reporting with a focus on FIU-related activities

IV. Dealing with Audits and Regulatory Inspections

• Preparing for regulatory audits and inspections
• Best practices in responding to audit findings
• Case studies illustrating successful outcomes from regulatory inspections

Part 8: MLRO – additional points to consider
I. Crisis Management and Communication

• Developing a crisis management plan for AML incidents
• Effective communication strategies during crises
• Case studies of organizations successfully managing and recovering from AML-related crises

II. Ongoing training and upskilling

• Opportunities for ongoing education 
• Strategies for maintaining expertise in evolving Financial Crime risks and technologies

Iii. Certitfication Summary

• Summary of the comprehensive certification coverage and Lessons Learned

Post Certification
Technology and Innovation Showcase​

• Interactive sessions for hands-on experience with the latest AML tools and solutions

Learn more

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​*Integrity Ticket: As per our commitment at RAW Compliance to removing financial barriers to education and career progression, if you are unable to cover the course payment, no matter what the circumstances, please contact us at [email protected] and we will arrange for you to be registered for free.

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