Workshop in Anti-Money Laundering and Model Risk Management

Program Overview

As the Singapore economy becomes increasingly international and open, money laundering issues and risks management have received increased attention from the Singapore Government, with amendments to the legislation made to strengthen the anti-money laundering levers in Singapore.

This unique 2-day training course seeks to equip attendees with current fundamentals and regulations on the developments within the anti-money laundering space in Singapore. It will also provide systems and statistical analysis and evaluation process that involve quantitative assessment and models within the monitoring systems to cover potential money laundering scenarios and to detect suspicious transactions.

Target Audience

• Delegates with 2-3 years experiences with anti-money laundering, compliance and risk
• AML experts

Program Schedule

Day One: Fundamentals and Regulations

Basic Concepts of Anti-Money Laundering and Countering the Financing of Terrorism

• Key definitions
• Typical Money Laundering stages: Placement, Layering and Integration
• What is Terrorist Financing?
• Recent Examples

Overview of Laws and Regulations

• US Regulatory Authorities and Regulatory Framework (BSA/USA PARIOT ACT)
• Singapore Regulatory Authorities (MAS) and Regulatory Framework
• Other Countries/International Efforts

Financial Institutions and Risk Assessment

• Know Your Customer (KYC) and Customer Due Diligence (CDD)
• Risk Assessment: Customers, Products and Services
• Ongoing Transaction Monitoring and Reporting (STR)

Special Businesses and Institutions

• Merchant Banks, Financial Advisers, Brokerages, Insurance Companies, NonBanks, etc.

Day Two: Systems and Model Risk Management

Model Risk Management in general

• Regulatory Requirements for financial institutions: Fed/OCC/DFAST/Basel/Solvency II regulations
• Model Validation: Effective Challenge Framework and Process

AML Technology and System

• Red Flags and Rule Mapping
• Key System Components and Functions

AML System Validation and Statistical Analysis

• Qualitative Assessment
• Quantitative Assessment
• Data Structure
• Scenario and Alerts
• Record Matching
• Risk Scoring
• Threshold Setting and Tuning

Speakers

Dr. Yang Yimin