AML Program Design
Tactical Risk Analysis
Strategic Risk Analysis
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Determining the most appropriate type of training necessarily depends on the perspective of the person requiring training, and their relationship to the financial services industry.
The most basic division in AML training types relates to different perspectives on money laundering risk:
• The strategic perspective is used to understand money laundering risk from a generic perspective, in terms of the risks associated with broad classes of customers, products, geographies and business areas. This perspective forms the basis for the development of a financial institution’s money laundering risk management program, as well as of the regulatory frameworks designed to gauge AML program effectiveness.
• The tactical perspective is used to understand the money laundering risks posed by specific customers and their financial activity.
Our 2-hour AML Core Competence course and Advanced Tactical Training course both explore the tactical risk analysis process, using numerous case studies and interactive scenarios to illustrate the process and provide opportunities to apply the process in simulated business situations. The 20-hour AML Officer Master Class and Targeted Business Area training courses are significantly more focused on the strategic approach to money laundering risk management, which relates to methods for identifying and managing the money laundering risks poses by broad categories within the financial services industry landscape.