The Role of the MLRO

Course outline and objectives

The role of a Money Laundering Reporting Officer (the holder of the SMF17) is critical to any regulated firm and the FCA is paying more and more attention to the competence of the SMF17, particularly for first-time role holders, and those at smaller firms expected to hold the role but with limited background in the field.

This course explores the legal and regulatory foundations of the role and expands out to look at the practical aspects from understanding how to scope and define your role within the firm, what the advisory and oversight roles look like, how to build a monitoring programme and manage your interactions with the FCA and law enforcement.

It also covers the fundamentals of FCA supervision and enforcement action as it relates to anti-money laundering requirements and touches on the impact of AI - what compliance's roles will be in AI projects and how the MLRO can use AI to enable the team to do more with limited resources.

This course is aimed at prospective and new SMF17 holders (and those needed to take the role for their firms ahead of FCA authorisation or registration (e.g. cryto-asset exchanges), to give them a foundational understanding of the nature, breadth and depth of their role. It is also suitable for those assessing or depending on the efficiency of the MLRO such as Chief Executive Officers, Compliance Officers, Internal Auditors and Senior Management.

Why choose in-house?

In-house training offers several advantages:

• Tailored content and real-world example: The training can be designed to address your company's specific needs and challenges. The trainer can incorporate case studies and examples relevant to your industry and company, making the learning more relatable and impactful.
• Convenience and cost:
  • You can choose the dates and times of the training to fit your team's schedule.
  • There is no (or minimal) travel costs.
  • It can be more cost-effective per person if you have a larger group of employees that need the training.
• Learning Environment:
  
  • With only your team present, there are fewer distractions and the trainer can focus entirely on your needs.
  • It can encourage collaboration and knowledge sharing between colleagues.
  • Employees may feel more comfortable asking questions and sharing challenges in a familiar environment with colleagues, especially if the training involves sensitive company information.
• Expertise: Our trainers specialise in the topic and can bring a high level of expertise to your team.