AML Risk Management: The BRA, CRA & The JRA

ML/FT risk management is important to all subject persons. The three main things to have an adequate ML/FT risk management function are the Business Risk Assessment, the Customer Risk Assessment and the Jurisdiction Risk Assessment. During this lecture we will analyse these three foundations in detail, starting with the proper construction of a BRA, which should include reference to the updated National Risk Assessment and also the Supra National Risk Assessment, identification of risks, mitigation measures, mitigation testing, inherent risk calculations and residual risk calculations, amongst others. We will further analyse the Customer Risk Assessment and the methodologies to be used within such risk models. Different types of risk models will be analysed, including numerical and factor based models.. Finally, we will further analyse the obligations related to the Jurisidictional risk assessments and the contents of such risk assessments. The session is ideal for managment and compliance operating in companies that are subject persons and individuals providing relevant activity.

The Speaker

John Mark Caruana is one of the co-founders of Radix Compliance Ltd, a local company specialising in AML & GDPR consultancy and outsourcing services. John has over 13 years of experience within various industries, including funds, FX, investments, CSPs and Audit. John holds a B.Com (Hons) degree in Banking & Finance and a Masters of Science in Banking & Finance, both awarded by the University of Malta. He is also a Certified Information Privacy Professional (Europe) and a Certified Information Privacy Manager (CIPM) as recognised by the International Association of Privacy Professionals. John is also a member of the Malta Association of Compliance Officers (MACO). John occupies positions of MLRO, Data Protection Officer and Compliance Director within tax, accounting and gaming industries. He also lectures on AML & GDPR related topics at the University of Malta and other local institutions.

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