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M2104 - The MLRO: Compliance & Effectiveness (online)

  • 26 Nov 2020
  • 13:30 - 16:45
  • Online Webinar

Registration

Registration Time: 13.15
Sessions Time: 13.30 -  16.45  including a 15-minute break
Speaker: Dr Antonio Ghirlando
Venue: Online Webinar
Participation Fees (The Institute is now accepting payments via Paypal)
MIA Members: €40.00
Non-MIA Members: €75.00
Retired Members: €20.00
Students: €30.00

SYNOPSIS:

The seminar will outline the salient legislative provisions relating to the appointment and duties of the MLRO and will offer practical guidance in carrying out both the reporting and monitoring functions in order to ensure effectiveness.
The personal responsibilities and accountability of the MLRO will also be addressed during the presentation.

BACKGROUND INFORMATION:

In terms of the Prevention of Money Laundering & Funding of Terrorism Regulations (PMLFTR) all Subject Persons are required to appoint a Money Laundering Reporting Officer (MLRO). This applies equally to natural and legal persons carrying out relevant financial business (i.e. credit and financial institutions) or relevant activity (i.e. the Designated Non-Financial Businesses and Professions or DNFBPs). Sole-practitioners act as the MLRO for their own practice.
In terms of the Regulations, the core function of the MLRO is to deal with any information, knowledge or suspicion of money laundering, terrorist financing and the proceeds of criminal activity – and to properly disclose such matters to the Financial Intelligence Analysis Unit (FIAU). The MLRO is also responsible for responding promptly to information requests from the FIAU, as well as other competent and law enforcement authorities.
In practice, the MLRO is often tasked with monitoring the day-to-day application of the measures, policies, controls and procedures adopted by the Subject Person to ensure compliance with its AML/CFT obligations. In effect, the MLRO serves as the contact point for all issues related to the PMLFTR and Implementing Procedures issued thereunder.
Given the critical role they play, MLROs are under increasing pressure to retain, maintain and enhance their skills and knowledge. This is highlighted further by the personal accountability measures recently introduced in the PMLFTR.

Objectives of the session:

The session is designed to provide participants with:
- An explanation of what is expected of the MLRO;
- Practical ways to comply with the salient legislative provisions and meet regulatory expectations;
- Guidance on how to deal with Suspicious Transaction Reports (STRs) and conduct an internal analysis;
- The necessary knowledge for assessing the adequacy and effectiveness of an AML/CTF programme; and
- An understanding of the challenges faced in executing the role.

TOPICS FOR THE SESSION:

- The regulatory framework
- The appointment and resignation of the MLRO
- The roles and responsibilities of the MLRO
- MLRO needs and requirements
- The key characteristics of a MLRO
- Being an effective MLRO
- Overview of related legislative provisions

TARGET AUDIENCE

The session is primarily addressed to Money Laundering Reporting Officers (including sole practitioners), Designated Employees, and other staff members forming part of a Subject Person’s compliance department and internal audit function.
Directors and C-Level Executives would also derive considerable benefit from the session as they are the ultimate risk owners.

SPEAKER'S PROFILE

Antonio Ghirlando is a seasoned regulatory and financial crime compliance specialist, focusing primarily on the prevention of money laundering, countering the funding of terrorism, combatting proliferation finance and sanctions.
Antonio currently serves as the Head of Compliance and Money Laundering Reporting Officer (MLRO) of a licensed institution. He also remains actively involved in the provision of specialist advice, intuitive guidance, support and training to several clients seeking to ensure ongoing compliance with their regulatory obligations.
During his career Antonio has worked with various entities in both the financial and non-financial sectors. He also headed the Compliance and Legal & International Sections of the Financial Intelligence Analysis Unit (FIAU) and served as the Secretary General of the Malta Bankers’ Association (MBA).
Antonio has been involved in several local and international committees, and has also presented numerous papers at various workshops, seminars, conferences and training events. Antonio is a graduate of the University of the Witwatersrand in Johannesburg, South Africa.

EVENT CPE COMPETENCES

3 Hours Core

TERMS AND CONDITIONS

Terms and conditions apply.

DISCLAIMER

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