This workshop is aimed at to foster the understanding of the mid-to-top level executives, managers and supervisors working in the financial industry regarding the practices in money laundering and terrorist financing, its legal operational risk related implications and how to mitigate these risks through anti-money laundering (AML) and counter terrorist financing (CTF) policies. This professional development and continuing education program is well suited for professionals from various financial disciplines and industries like Banking, Insurance and Capital Markets. It has also been exclusively designed to meet the requirements for all levels of management as well as people from various business units like corporate finance, trading and sales, retail and commercial banking, payment and settlement, agency services, retail brokerage and asset management.
After completing this session, you will be able to:
- Understand the meanings, cycle and phases of AML
- Know the details of the channels and control for AML and CFT
- Identify historical context on AML and CTF regulations.
- Understand regulatory expectations in AML/CFT programs.
- Recognize what you need to do to meet the compliance requirements.
- Define what makes a successful AML/CFT Compliance Program.
- Understand regulators and their expectations
- Financial Industry board of directors and senior managers
- Investment and portfolio Heads, Managers and Analysts
- Investment and portfolio Managers, traders and Analysts
- Insurance managers, brokers, agents and representative
- Branch Managers, Divisional Managers and supervisors
- Corporate sector CEOs, Managers and admin personnel
- People in business units like corporate finance, trading and sales, retail and commercial banking, payment and settlement, agency services, retail brokerages, IT and business analysis functions and asset management
- Understand the definition of money laundering (ML) and terrorist financing (TF), their cycles and the different stages
- Analyze the ML techniques for banking and insurance sectors
- Realize the underlying channels of money laundering and preferred investment types
- Be able to design better Control categories, contents and sufficiency decisions
- Learn the techniques for disguising the true ownership and ML instruments
- Know the financial investment services companies and Anomaly indicators
- Know the phenomenon and relationships between money laundering and financing of terrorism
- Learn about risk-based approach to AML/CTF, USA’s Patriot Act and penalties for non-compliance
- Engineer the AML Process Phases and Lines of defense
- Design the best features for a Financial Intelligence Unit
- Have a command on International standards, norms and inter- and intra-institutional cooperation
- Deeper understanding of FinCEN, FinTRAC and Banking Legal Cases
- Excel in Red Flags and Best practices for AML and CTF
Dr. Shahid Anjum has over 20 years of banking industry, consultancy and university teaching and research experience in Canada, USA, Japan, Pakistan, Philippines and currently in Brunei Darussalam. He has completed Banking Risk and Regulations education from Global Association of Risk Professionals (GARP, USA), is a Charted Investment Manager (Canada) and has completed over 40 training programs during his career in Banks including Portfolio Management and Designated Lending Authorities for Commercial VPs, Capital Markets Risk and Controls, Capital Markets Supervisor, FATCA, Privacy & Information Risk Management, Anti-Money Laundering & Anti-Terrorist Financing, Global Compliance Program, Underwriting for Managers and Underwriters and IT Change Management. Dr. Anjum has been an adjunct faculty (Finance and MIT) for Doctoral programs in Business Administration (DBA) and Management Information Technology (DMIT) at Lawrence Technological University (USA) since 2008. He was attached with Asian Development Bank (ADB), Manila in 1998 with Energy and Financial Derivatives Unit. Besides studying in the Master of Computer Science program at UDM in Michigan (USA), Dr. Anjum has earned his Ph. D. from Nagoya University (Japan) for developing early warning system for banking risks and financial crisis. His research interests include, but not limited to, Backtesting, Scenario Analysis, Islamic Finance and Banking Risks, Wealth and Asset Management, Risk Quant and Internal Audit Methodologies, Volatility Models and Return Forecasting, Data Mining and Computational Analytics, Business Analysis and Software Engineering, Apps and ICT Project Management, Cloud Computing. He has published widely, currently is a program leader at Institut Teknologi Brunei (ITB), editor for three journals including Banking and Finance one and a Chair for various Conferences including ICDDM (Chicago), ICSSH (Osaka), CMECE (New York) and ICIM (London).