We had a directors’ meeting recently. The topic was how best can we support MLROs in accountancy firms.
Frankly, firms differ. MLROs differ. Each firm is unique and special in its own way. So how can we help?
The support menu
We came to the conclusion that we needed to offer a menu of support services so that an MLRO can select the level of support he wants, with the opportunity to ask for more detailed support on a one-to-one basis when he needs it.
AML Document Templates Pack
There will certainly be MLROs who have a reasonable understanding of what the regulations (and the supervisory bodies) require, and a very good understanding of their own firm’s services and their clients’ businesses – but who would like some help formalising the documents in which to record all the necessary information.
For those MLROs we have designed our AML Document Templates Pack. This provides templates for the AML Policies and Procedures document and the Firm-wide Risk Assessment, which the MLRO can modify to fit the unique circumstances of his own firm. We provide a ‘How to Implement’ guide to make that as easy as possible. The templates include Client Due Diligence and Client Risk Assessment questionnaires which may be used with the templates if desired.
We also include an Internal Suspicious Activity Report form, which firms find a useful way to ensure that staff provide the MLRO with the relevant information where there is a suspicion which may be reportable.
Because the world of anti-money laundering and counter-terrorist financing is always developing, this service comes on a subscription basis so that we can keep the templates up to date for you.
Virtual AML Systems Review
For MLROs who need some one-to-one support we offer our Virtual AML Systems Review which includes two 30 minute one-to-one zoom calls with David Winch to identify any particular problem areas and provide practical solutions.
If you need more intensive assistance David Winch can arrange a full day visit to your firm to provide On-site Support.
The one-to-one support packages have been particularly useful to firms who are preparing for a review by their supervisory body, or who have recently had a review and received adverse feedback.