This course can be delivered to your organisation as part of our bespoke Corporate Training Solutions, at your own time and your own convenience. Contact us on kla@kpmg.com.mt or call us on +356 2563 6363 or on +356 9963 6363 for more information on how we can take care of your organisation’s training needs.

Course Description:

The session will deal with the importance, requirements, and the processes involved in the carrying out of a Business Risk Assessment (“BRA”) and Jurisdictional Risk Assessments (“JRAs”). This training session is based on the requirements emanating from the Prevention of Money Laundering and Funding of Terrorism Regulations (“PMLFTR”), the FIAU Implementing Procedures Part I (“IPs Part I”) including other guidance documents and factsheets issued by the FIAU, guidance issued by international bodies such as the Wolfsberg Group, Basel Committee on Banking Supervision and FATF, and also based on best practice. This session will also be interactive whereby we will be taking you through practical examples and case studies.

Target Audience:

MLROs and designate employees within the AML/CFT field.

Topics to be covered:

Business Risk Assessment (“BRA”)

• The Risk-Based Approach, the obligation around the BRA and its process;
• The five-step approach to the BRA;
• Identifying the inherent risks and how these risks are determined including the qualitative and quantitative information to be considered;
• Factors that are considered as posing high inherent risks;
• The controls of the organisation and the determination of the effectiveness of controls;
• Guidance on how to assess the effectiveness of the controls;
• Examples of controls at the enterprise level, at the first line of defence and other general controls;
• Controls to be considered for each of the risk factors;
• Determination and calculation of the residual risk;
• Discussions around the BRA guidance document issued by the FIAU;
• Tips to conduct an adequate BRA;
• The importance of revising and updating the BRA;
• Administrative Penalties issued around the BRA; and,
• Practical example on the BRA, followed by case studies.

Jurisdictional Risk Assessments (“JRAs”)

• Regulatory Framework on the JRAs and their process;
• Discussions on the FIAU’s enforcement factsheet around JRAs;
• Summary to conducting adequate JRAs;
• Administrative Penalties issued around JRAs; and,
• Practical example on a JRA, followed by case studies.

“A very informative session given by great professionals.”

– Attendee, Deputy MLRO
(May 2022 edition)

Venue: Kindly contact us on kla@kpmg.com.mt to indicate your preferred training method; online or in-person.

CPE Hours: This course qualifies for 2 hours of Structured CPE which can be classified as Professional Competency. A certificate of attendance will be provided at the end of the session.

Trainer:

Deborah Cassar, Associate Director, AML, Risk Consulting Advisory Services, KPMG in Malta

Deborah is an Associate Director in AML within the Risk Consulting Advisory Services team at KPMG in Malta. She graduated with a Bachelor of Commerce Degree in Banking & Finance and Management, from the University of Malta. She has over 10 years’ experience within the Financial Services sector and over 13 years’ experience in the AML/CFT field.

Before joining KPMG, Deborah worked for over 2 years with the Financial Intelligence Analysis Unit (FIAU). She has extensive experience in carrying out Compliance on-site and off-site examinations with subject persons; advising and assisting subject persons in establishing appropriate AML/CFT internal structures and controls. She obtained an international golden standard specialisation with ACAMS as a recognised and certified Anti-Money Laundering Specialist (CAMS) and also completed the Advanced CAMS in Risk Management (CAMS-RM). Deborah is a Co-Founder and Co-Chair of the ACAMS Malta Chapter.

At KPMG, Deborah works extensively in the areas of AML Compliance. She has managed both local and foreign AML projects and assisted entities to comply with regulatory obligations specifically on AML/CFT. These projects include assisting with the drafting and/or review of policies and procedures, training, review of processes, GAP analysis, independent AML audits, Customer Risk Assessments and Business Risk Assessments.

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