AML/CFT for Governing Bodies

Description 

The training is part of the Fund Governance Masterclass, a certification programme with the following topics:

• Module 1 – Funds & IFMs: Governance fundamentals (28hr, 3.5 days)
• Module 2 – Technology challenges for Governing Bodies (4hr, 0.5 day)
• Module 3 – Portfolio management (4hr, 0.5 day)
• Module 4 – ESG developments for Governing Bodies  (4hr, 0.5 day)
• Module 5 – Risk management (8hr, 1 day)
• Module 6 – Fund Administration, Depositary and Valuation (8hr, 1 day)
• Module 7 – Marketing, distribution and transfer agency (8hr, 1 day)
• Module 8 – AML/CFT for Governing Bodies  (4hr, 0.5 day)
• Module 9 – The role of the auditor  (4hr, 0.5 day)
• Module 10 – Tax & Regulation for Governing Bodies (8hr, 1 day)
• Module 11 – Fund Governance in Practice (8hr, 1 day) 
  
  
  

Course outline 

This module provides governing bodies of investment funds and investment fund managers (IFMs) with an understanding of the professional obligations applicable, role and responsibilities of the governing bodies and key functions, the key elements of an appropriate AML/CFT framework, and insight on the practical challenges of ensuring that an appropriate framework is in place and overseeing its implementation. 

Facilitated by leading industry professionals, the module focuses on specific key operational challenges, the evolving requirements and expectations of Boards and types of failings identified by supervisors and auditors on AML/CFT controls. Case studies will give the participants the opportunity to work through practical examples of AML/CFT issues. There will be any opportunity to ask questions on this vast and often complex subject.  

This module alone may not qualify as an annual AML/CFT training from a regulatory perspective.

Course highlights  

The module covers the following topics: 

• Roles and responsibilities of the Board, RR and RC  

• Key elements of an AML/CFT framework  

• Luxembourg AED expectations 

• Overview of AML oversight 

• Operational issues and types of shortcomings identified by the competent authorities and by independent statutory auditors 

• Hot topics