Demonstrable expertise of the Anti-Money Laundering and Anti-Terrorist Financing Act (Wwft) and Sanctions Act is a requirement for both the employees and the top management of a financial institution. However, following a Wwft course only makes sense if the content is in line with the responsibilities of the management and the issues specific to their own organization. That is why we developed this program, adapted to the organization and role of the top management of a financial institution.
After successful completion of this program you will be aware of the relevant provisions from the Wwft and Sanctions Act, and will be able to apply these to your own organization. The program:
- is adapted to your specific situation;
- provides demonstrable results;
- is relevant to the top management of a financial institution.
It is important that the Wwft program for top management impacts the ownership of risk management in the field of the Wwft and Sanctions Act. Therefore, it is essential that the participants enter into dialogue about their understanding of these risks. To achieve this, we have divided the program into three steps:
1. a theory session;
2. an online survey;
3. a discussion of the results of the survey.
Step 1: theory session
The program starts with a 1 -1,5 hour (online) presentation by a senior Charco & Dique consultant, specialized in the Wwft and Sanctions Act. During this session both laws are discussed. The aim of this session is to ensure that all participants have an equal basic knowledge of the regulations and are aware of relevant current developments.
The content of this session is tailored to what is applicable to the participant’s organization and what is relevant for top management. The emphasis will therefore lie on strategic risks rather than on operational aspects of the Wwft and Sanctions Act.
Step 2: online survey
Next, we set up an online survey among the participants, in which they individually give their reactions to propositions and scenarios that are relevant to their organization. The results are used as input for the discussion in the third step. The design of the survey and the content of the scenarios are carefully coordinated with the participants.
Discussion of the results
The results of the online survey are used as input for the discussion between the participants, coordinated by two senior consultants of Charco & Dique. This session takes 1.5 hours.
The conclusions from this discussion will be recorded in a document. This document demonstrates the results of the program.
The delivered document is an organization-specific risk analysis in the field of the Wwft and Sanctions Act. This analysis is based on the participants’ own risk assessment and the results of the discussion. The risk assessment demonstrates their knowledge of the relevant provisions from the Wwft and Sw and shows that they are able to apply these to their own organization.
Preparation and implementation of the three steps require approximately one month. The planning of the activities takes place in consultation with the participants.