AFB Financial Crime Masterclass: Conducting a Firmwide Financial Crime Risk Assessment

This Masterclass is designed to support attendees to complete an FCRA that meets the requirements of regulatory expectations.  It will also provide the basis for the framework of systems and controls that cascades from the assessment of all financial crime risks, and not just money laundering.

During the session technical information will be delivered to ensure that delegates are provided with instruction and guidance on how to complete each stage of the risk assessment, ensuring that risks reflect actual business operations and that the absolute risks are fair and reflective of actual business risks.

Delegates will be supported with practical notes, working templates and risk assessment exercises to ensure that the session is highly interactive, and outcomes focused.

Course content

1. Introduction to the risk-based approach, glossary, and definitions
2. UK and International legal and regulatory expectations, what the FCRA is designed to achieve
3. Completing the FCRA, from risk assessment to absolute risk assessment and trend analysis
4. Managing the FCRA and reporting the findings
5. Monitoring and assurance of the FCRA process

Course structure

• In person and instructor led
• 3 hours of learning
• Case study analysis
• Working templates
• CPD credits for any session attended

Learning Outcomes

By the end of this session, you will be able to:

• Explain the risk-based approach to managing crime risks, and how the performance of a firm wide FCRA is designed to support this process
• Confirm FCRA legal and regulatory requirements for a firm supervised or regulated for compliance with the UK Money Laundering Regulations
• Outline how the FCRA should be used by firms to manage financial crime risks according to the risk-based approach
• Complete an FCRA using matrixes and weightings to ensure that the assessment is fair and reflective of actual risks
• Identify and assess various controls to determine the absolute risk assessment for each crime risk
• Describe some of the common gaps that can be found in FCRA methodologies
• Describe how to continuously monitor and assure FCRA results
• Describe how the FCRA results should recorded, reported, and integrated into firmwide risk management practices and operations

Who should attend?

• Risk and compliance professionals who have any responsibility for the financial crime risk assessment
• Financial crime professionals with responsibility for designing financial crime policies and procedures
• Financial crime professionals with responsibility for financial crime risk management
• Line two and line three risk management officers including Internal Auditors and those with quality assurance responsibilities, MLROs and DMLROs
• Board members who Chair risk committees

Logistics

Venue:        In-person, Central London venue
Date:          Wednesday, 21 May 2025
Time:          09:00 – 12:30 (Registration and light breakfast from 09:00)
Price:          £400 plus VAT

For further information including any questions around booking please contact secretariat@foreignbanks.org.uk