Roles and Responsibilities of the Money Laundering Reporting Officer (MLRO)

• We have delivered FCC and money laundering reporting officer training programs to many leading organizations including the world’s largest trade finance bank where the outsourced training program is entering its 8th year and Redcliffe remains the main provider of trainers in both the UK and overseas. We have also delivered extensive MLRO training to small and medium-sized firms
• Based on this Global Bank training program and our considerable experience in training small and medium-sized firms, we are certain we have as much and probably more experience delivering quality cutting-edge FCC & MLRO training as anyone in the marketplace
• We believe this is one of the most up to date on-the-spot courses on offer
• Our trainers are all successful and very senior retired executives who are well aware of how important the MLRO is to the successful control of FCC
• We have developed highly interactive and very enjoyable case studies to enhance the learning points. All delegates report that these are a high point.
• We are always judged by our results which speak for themselves and the feedback received from previous delegates has always been excellent.

• Explain the critical role of the MLRO function in establishing, implementing and monitoring an effective anti-money laundering and CTF policy
• Explain the purpose and function of the risk-based approach
• Identify the key responsibilities of the MLRO and his or her team
• Demonstrate with examples, both good and bad AML practice and procedure
• Ensure delegates understand the importance of the MLRO function in relation to statutory requirements
• Consider the implications of MLR2017, 2019 & 6^thMLD
• Consider PSC requirements & Trust registration
• Consider PEP criteria of Money Laundering and the single European Register
• Explain how the MLRO must oversee and control the AML investigation process and how this is documented
• Appreciate the need for regular and documented staff training
• Understand the importance of an effective escalation process including SAR/STR’s and the need for an effective Whistleblowing process
• Appreciate the importance of the Annual (or more frequent) MLRO reporting
• Appreciate how it all works in practice and where the pinch points often occur

The trainer had a highly successful, long and varied “fast track” career in Lloyds Bank, which led him to a very senior management position in the bank’s private banking and wealth management division at an early age. He was then “headhunted” to join a merchant bank to head the risk function at the main board director level. He now has over 40 years of experience in the UK banking and financial services sectors.

The trainer has been a freelance Compliance, FCC & AML training consultant since retiring and is currently an external Master Trainer at both HSBC and Bank of China. At HSBC he has been a leading member of their global FCC & AML training programme, which is now entering its eighth year. He has created and delivered training to a vast range of clients, from global giants to small firms and partnerships. He is an accomplished global trainer and has delivered extensive programmes in the UK, USA, South America, Europe, Africa, Asia and the Middle East.

He is a highly adaptive, hands-on and highly sought-after facilitator who always receives excellent feedback from delegates. He is comfortable training at any level of seniority and experience, from “black belts” to novices. As well as his Compliance, FCC & AML specialism, his expertise includes but is not limited to Risk Management, Trade Finance and all major aspects of Corporate, Private & Retail Banking. He is also a highly experienced soft skills trainer and has completed numerous “train the trainer” assignments.

As far as the creation of AML & FCC policies is concerned, the gatekeeper, controller and the place where the “buck stops”, is the MLRO.  This is a critically important position within any firm covered by AML Rules. When it comes to the identification, detection, escalation, reporting, managing and training of staff on Anti-Money Laundering procedures, it is the responsibility of the MLRO to ensure this all happens as effectively and efficiently as possible. In most jurisdictions, it is a mandatory role.

The MLRO should be a senior manager within the business and have the power to drive policy decisions and actions. He/she should have undergone a sufficient level of training experience and hold suitable qualifications.

This highly interactive money laundering reporting officer course is designed to explain fully the roles and responsibilities of an MLRO. It includes a number of interesting case studies based on real-life examples which will be used to enhance the learning experience. Delegate participation will be strongly encouraged and many attendees tell us that the ability to swap “war stories” and compare notes is a very helpful feature. Whether you are the MLRO or part of the team, we can help you understand your role and discharge your duties more effectively.