Understanding the Board of Directors Role in Effective AML Risk Oversight

An organization’s board of directors plays an essential role in effective anti-money laundering (AML) risk management. The board’s support of the AML compliance function is also critical to the deterrence and prevention of potential AML violations.

This course will provide attorneys, compliance professionals, and board members with specific information about the board of directors’ duties and responsibilities as they relate to an AML compliance program. This course will also cover what regulators and prosecutors expect of the board regarding an AML compliance program. Among other things, course attendees will learn how to effectively reduce the potential for AML risk, as well as how the board can more effectively communicate with senior management and the compliance function.

Learning Objectives:

1. Explain the board of directors’ role in the context of an AML compliance program, and how to meet regulatory expectations
2. Outline some practical ways in which the board of directors can better engage with the compliance function
3. Identify AML compliance program requirements, including the five components, and how they relate to the overall the health of the program
4. Examine what led other companies to incur violations and how to prevent such violations from occurring in your organization