Transaction Monitoring and Alert Definitions Bespoke Training

04 May 2022
This case aimed at training to assess advisory teams’ initial risks, AML & using the best practices to create an informed & effective monitoring alert process.

The client and the requirement:

We have delivered a number of courses over the years to this well known bank, therefore they are well aware of the quality of trainings we provide. They have contacted us in November with the below requirements;

A course which might specifically target the role of Transaction Monitoring in mitigating risks that face the Bank.

It is the Transaction Monitoring typologies & behaviours that the course should be focusing on. It is ultimately only the Transaction Monitoring aspects of AML and the risks associated with this that the bank was interested in. A framework which explains that the regulatory background is acceptable.

Norms across customer bases / datasets – differentiate between different age groups – in terms of what normal look like – as this may well be different within different products & age groups. Start to look at aggregating within products / customer groups etc.,

A high level overview AML – Regulatory landscape – best practices / various scenarios etc…

The training:

Redcliffe Training has delivered a highly interactive online Webinar and the purpose of the training was to encourage, persuade and empower members of the Transaction Monitoring Alert Team to use the Advisory Teams Initial Risk Assessment to create a well-structured, informed and effective monitoring alert process. The courses covered helpful and practical suggestions on how to achieve this in a “real world” situation.

This tailored version of our Essential AML/FCC Escalation & Suspicion Reporting Workshop course was put together based on the specific training requirements of our banking firm client. To view the technical content or to enquire about running your own in-house version, click here.

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