Course Details

Regulation 18 of the Money Laundering Regulations 2017 require a firm to take appropriate steps, relevant to the size and nature of the business to identify and assess the risks of money laundering and terrorist financing to which its business is subject.  In doing this they must take into account information made available to them by the supervisory authority, and risk factors including factors relating to the firm's customers, the countries or geographic areas in which it operates, its products or services, its transactions and its delivery channels.  Time and time again the professional body supervisors are reporting that their members are either not risk assessing their firms or are not doing so adequately. 

 

In this course Lucy Brown covers the following topics:

  • Overview of your obligations
  • Purpose of the firm wide risk assessment
  • What should be included
  • Use of templates
  • Case studies/Supervisory body findings

 

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CPD Course Speaker

Calathea Solutions Ltd

Lucy Brown

After initially working in a range of bookkeeping and accounting roles, Lucy took up a role in a team administering the £17 billion pension fund of one of the Top 3 UK banks. Later moving on to a project working with an international partner to scope a new pensions administration system. This work drew on expertise in:

• Workflow Management
• Process mapping
• Systems design
• Test design and implementation
• Interpretation of scheme rules and legislation

After a career break, Lucy went into practice as a bookkeeper, growing and developing a successful bookkeeping practice that she then sold. Whilst in practice as a bookkeeper, Lucy developed and implemented policy and processes to ensure that the business was compliant with all legislative requirements, including Anti Money Laundering legislation.

Having successfully sold the business, Lucy worked for one of the supervisory bodies supporting members to meet their legislative obligations and satisfy professional standards. In this role Lucy provided training, worked to raise awareness, and provided advice to a wide variety of members – alongside overseeing the mandatory penalty regime and developing an independent appeals process.