Business Issue
A regulated small payment institution appointed a new compliance manager as the Money Laundering Reporting Officer (MLRO). Although the new MLRO had significant regulatory compliance experience, they had limited exposure to financial crime. The firm needed to provide sufficient and adequate financial crime training to ensure the MLRO was confident in fulfilling their responsibilities.
Solution
fscom developed and delivered a tailored two-day training programme for the newly appointed MLRO. The training included a mix of interactive workshops, covering key financial crime legislation, regulatory requirements, and practical considerations specific to the MLRO role. The training materials were bespoke and aligned with the firm's operational needs.
Benefits
The MLRO gained a deeper understanding of financial crime and felt confident in their ability to manage and mitigate financial crime risks within the firm. The training ensured that the MLRO was well-equipped to meet regulatory requirements and effectively perform in the role, thereby strengthening the firm’s compliance culture.
Client
Feedback
The client expressed satisfaction with the bespoke financial crime training, noting that the MLRO felt well-prepared and supported after the two-day session. The training provided practical insights and improved the MLRO’s confidence in handling financial crime matters within their compliance responsibilities.
