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M22061 - The role of the Money Laundering Reporting Officer (Online)

  • 10 Jun 2022
  • 09:30 - 11:30
  • Online Webinar

Registration


Registration is closed
Registration Time: 09:15
Sessions Time: 09:30 - 11:30 (no break)
Speakers: Ms Ruth Esposito & Dr Jonathan Phyall
Venue: Online Webinar
Participation Fees (The Institute is now accepting payments via Paypal)
MIA Members: €28.00
Non-MIA Members: €50.00
Retired Members: €15.00
Students: €20.00
*Group bookings for 3 or more participants available.

BackgrounD information

In accordance with the Prevention of Money Laundering and Funding of Terrorism Regulations (S.L. 373.01) of the Laws of Malta, all subject persons are required to appoint a Money Laundering Reporting Officer (MLRO).
This role carries with it significant responsibilities including but not limited to the assessment of internal reports pertaining to the suspicion of money laundering and financing of terrorism, the determination and disclosure of suspicious activity and/or transactions to the Financial Intelligence Analysis Unit (FIAU) and acting as a focal point for AML and CFT matters both within an entity as well as external to the subject person. As a result, the person who undertakes such a role needs to have a good understanding of what the position entails whilst the subject person’s management needs to ensure that a suitable person is chosen, and that adequate professional support is provided on an ongoing basis.
In this regard, the FIAU provided for the basic requirements in the Implementing Procedures (part 1) and continued providing additional clarifications with the issuing of the 2022 Guidance Note on the common issues related to the MLRO. The purpose of this seminar is to discuss the main criteria for the appointment of the MLRO as well as the responsibilities linked to this role.

SPECIFIC TOPICS TO BE COVERED DURING THE SESSION

  • Determining the main prerequisites for the role.
  • Outlining the support required by the MLRO from management.
  • Discussing the mandatory and ancillary tasks that need to be carried out by the MLRO.
  • The legal repercussions emanating from role.

WHY IS THE SESSION OF RELEVANCE TO OUR MEMBERS?

Attendees will enhance their knowledge as to what the local AML and CFT obligations in terms of the MLRO role entails.

Target Audience

The session is aimed at MLROs (existing and prospective), Compliance Officers, Board members, Committee members, Committee members, Committee members.

    Speakers' Profiles

    Ruth Esposito joined Grant Thornton in 2016 and leads the compliance function within the Firm. Her role is to ensure that the Firm is compliant with the various regulatory requirements which include matters relating to anti-money laundering and counter financing of terrorism, data protection, independence, conflicts of interest and corporate governance. Over the years, her role expanded to cover various risk management matters whereby she implements the necessary measures and advises on aspects related to reputational risk and operational risk. Ruth is also responsible for the drafting of several internal policies and procedures and to monitor the implementation of same throughout the Firm. Prior to joining Grant Thornton, Ruth worked with one of the big four companies in Malta whereby she was engaged on a number of projects related to anti-money laundering and counter financing of terrorism. Furthermore, she was also engaged on a cybersecurity project in which she formed part of the project management team. During this time, Ruth had the opportunity to work in Newcastle and in London as part of a team which was engaged by credit institutions to carry out several tasks related to anti-money laundering and counter financing of terrorism.
    In 2015, Ruth obtained a Bachelor of Arts (Honours) in Criminology. She also obtained a Certificate in Anti-Money Laundering and Funding of terrorism (MQF level 5). In 2021, Ruth is successfully completed the Master of Science in Security Management, Counter Fraud and Counter Corruption at the University of Portsmouth.
    Dr Jonathan Phyall is the Head of the FIAU’s Legal Affairs Section. A lawyer by profession, he joined the FIAU in 2016 and has represented Malta and the FIAU in a number of European and international fora as well as being heavily involved in the drafting of amendments to the Prevention of Money Laundering Act, the Prevention of Money Laundering and Funding of Terrorism Regulations, and the Implementing Procedures.

    EVENT CPE COMPETENCES


    2 Hours Core


    WEBINARS TERMS AND CONDITIONS


    Terms and conditions  apply


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