Introduction
Money laundering and terrorist financing remain some of the most significant risks facing financial institutions and businesses worldwide. With increasing regulatory scrutiny and global frameworks such as the FATF (Financial Action Task Force) standards, boards of directors and senior management carry a heightened responsibility in ensuring robust AML governance, compliance, and accountability.
This training course is specifically tailored for board members, executives, and senior management, equipping them with the knowledge, skills, and tools to understand their roles and responsibilities in AML oversight. It explores the legal and regulatory landscape, governance obligations, risk-based approaches, and the consequences of non-compliance, ensuring that leaders can safeguard their organizations against financial crime, reputational damage, and regulatory penalties.
Delivered through interactive lectures, case studies, regulatory updates, and practical exercises, this program bridges the gap between compliance operations and board-level strategic oversight, enabling participants to drive a culture of compliance and integrity across their organizations.
Participants who successfully complete the course will receive Certificate of Participation.
Course Objectives
By the end of the course, participants will be able to:
- Understand the fundamentals of money laundering, terrorist financing, and proliferation financing.
- Recognize the strategic role of the board and senior management in AML compliance.
- Interpret international and local AML/CFT regulatory requirements and frameworks (FATF, Basel, EU Directives, US Patriot Act, etc.).
- Develop risk-based approaches to AML governance and decision-making.
- Strengthen oversight of AML policies, procedures, and internal controls.
- Identify the reputational, financial, and legal consequences of AML non-compliance.
- Evaluate AML reporting structures, accountability frameworks, and escalation processes.
- Foster a culture of compliance and ethical leadership at the top.
- Understand the intersection of AML with ESG, sanctions, and corporate governance.
- Oversee AML audits, independent reviews, and regulator interactions.
- Support effective communication between the compliance function, board committees, and stakeholders.
Duration
5 Days
Who Should Attend
- Board of Directors (executive and non-executive)
- C-Suite executives (CEO, CFO, COO, CRO, CTO)
- Senior management in financial institutions and corporations
- Governance, risk, and compliance committee members
- Regulators and policymakers overseeing financial services
- Leaders in banking, fintech, insurance, capital markets, and other regulated sectors
Course Outline
Day 1: Foundations of AML and Board-Level Accountability
- Introduction to money laundering and terrorist financing: concepts and stages
- Global AML standards: FATF, Basel, Wolfsberg principles
- Regional and national AML laws and regulations
- The evolving liability of boards and executives in AML compliance
- Case studies: high-profile AML failures and board accountability
Day 2: Governance, Oversight, and Strategic Risk Management
- Board and senior management responsibilities in AML frameworks
- Building governance structures that support effective compliance
- Approving and monitoring AML policies and procedures
- Integrating AML oversight into enterprise risk management
- Oversight of compliance reporting and internal audit findings
Day 3: Risk-Based AML Approach and Oversight Tools
- Identifying high-risk customers, sectors, and jurisdictions
- Reviewing and challenging management’s risk assessments
- Effective board reporting and dashboard oversight
- Ensuring adequate resources for compliance functions
- Supervising third-party and correspondent banking risks
Day 4: Technology, Innovation, and Emerging Risks
- Role of RegTech, AI, and machine learning in AML compliance
- Risks in digital banking, fintech, and cryptocurrency transactions
- Managing cross-border transactions and global compliance pressures
- Responding to cybercrime, fraud, and new money laundering typologies
- Practical workshop: board decision-making on emerging AML risks
Day 5: Building a Culture of Compliance and Ethical Leadership
- Tone at the top: embedding AML into organizational culture
- Communication strategies for AML across business lines
- Whistleblower mechanisms and escalation protocols
- Crisis management: responding to regulatory investigations
- Capstone exercise: simulated board session on AML oversight
- Closing reflections and action plans for governance enhancement
General Notes
- The instructor led trainings are delivered using a blended learning approach and comprises of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.
- The participants should be reasonably proficient in English as all facilitation and course materials will be offered in English.
- Upon successful completion of this training, participants will be issued with a certificate.
- The training will be held at Kincaid Training Centre. The course fee covers the course tuition, training materials, two break refreshments and lunch.
- All participants will additionally cater for their, travel expenses, visa application, insurance, and other personal expenses.
- Accommodation and airport pickup are arranged upon request. For reservations contact the Training coordinator at Email: training@kincaiddevelopmentcenter.org or Tel: +254 724592901
- This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our Kincaid Training Centre or at a convenient location.
For further inquiries, please contact us on Tel: +254 724592901 or send mail to training@kincaiddevelopmentcenter.org
Payments are due upon registration. Payment should be sent to our Bank account before commencement of training and proof of payment sent to training@kincaiddevelopmentcenter.org