Anti Money Laundering
Recent failures of European financial institutions in combatting money laundering have increased the pressure on supervisory authorities. There is a need to strengthen the anti-money laundering (AML) supervision, as well as the expectations on financial institutions themselves to enhance their ability to manage those risks – starting from better risk understanding, appropriate governance to effective and comprehensive control processes.
The intermediate-level course on AML has been designed for both senior professionals in the financial services industry working in the AML area and representatives of supervisory authorities. In addition to providing thought provoking content on evolving industry and supervisory practices, the course will be a platform to stimulate exchange and debate between the public and private sectors.
The course, which will be held under the Chatham House rule, will provide an opportunity to financial institutions professionals to improve their understanding of supervisory mechanisms and expectations, and act as a forum to interact and exchange views with peers on the latest industry trends in risk management processes and tools. For the supervisors the course provides an overview of good industry practices in managing the money laundering risk, as well as concepts and approaches for effective supervision.
- Role of financial services firms in fighting financial crime
- Implications of financial crime risk for financial institutions and financial system stability
- Institutional architecture of financial crime supervision
- Key trends and evolutions in AML supervision
- Supervisory perspectives and expectations in relation to firms’ governance and internal control systems
- Use of AML risk assessment and risk appetite frameworks
- Key trends and evolutions in core control processes: customer due diligence, customer risk rating and transaction monitoring
What you will learn
- For supervisors, the course provides a unique opportunity to develop a detailed understanding of which are the best practices that financial institutions are deploying to fight financial crime. It will also cover the frameworks and tools required to effectively supervise AML polices and processes at banks
- For industry executives involved in the AML field, the course is equally unique as it provides an opportunity to enhance their understanding of current best practices and industry trends, share experiences with relevant peers and i learn first-hand about supervisory perspectives and expectations on AML risk management
How the course will work
Total course length: 15 hours.
The course will be structured as a two-day classroom training with eight modules of varying format: lectures held by public officials active in the field of AML, private sector representatives, academics and strategy consultants to the authorities and the banks, as well as extensive discussions based on practical cases. The two-day course will conclude with a roundtable debate comprising all participants, authorities and private sector executives.
Participants in the course will benefit from multiple networking occasions, a speech by an industry representative and dinner in a unique location in Florence.
A certificate of attendance will be provided to all participants after the course.
This course has been designed to foster active involvement of course participants. As part of a small class, they are encouraged to cultivate a broad perspective and are required to actively contribute to the exchanges and discussions. Each participant is expected to bring into the course her/his own specialist area of competence and unique perspectives.
The course will be conducted strictly under Chatham House Rules: “when a meeting, or part thereof, is held under the Chatham House Rule, participants are free to use the information received, but neither the identity nor the affiliation of the speaker(s), nor that of any other participant, may be revealed“.
Meet the instructors
Magda BiancoMagda Bianco heads the Consumer protection and Anti Money Laundering Directorate at the Bank of Italy since January 2014. Previous positions at the Bank of Italy include Head of the Economics and Law Division (2007), officer at the Economic law office (1999) and Head of the Financial Structures office (1997). She also held the position of Counsellor for economic and financial matters at Italy’s Ministry of Finance (since 2013) and economic Counsellor of the Justice Minister in 2012-2013. She is a research member at the European Corporate Governance Institute, member of the FinCoNet (Financial Consumer Protection Organization) and of the OECD-INFE (International Network for Financial Education). She holds a Ph.D. in Economics from the London School of Economics.
Rene BrülhartRene Brülhart is the Chairman, non-executive President of the Financial Information Authority (AIF) of the Holy See and the Vatican City State and owner of a consultancy firm. Previously, he acted as Director of AIF and advisor to the Holy See since September 2012. Before his appointment in the Holy See, he served as Director of the Financial Intelligence Unit (FIU) of the Principality of Liechtenstein for over eight years. He has worked with the Liechtenstein FIU since its creation in 2001, initially serving as its deputy director. From 2010 to 2012, he also served as Vice Chair of the Egmont Group, the global network of national Financial Intelligence Units. Rene received his law degree from the University of Fribourg and a Master of Laws (LL.M.) in European Business Law from the Pallas Consortium, hosted by the Catholic University of Nijmegen.
Anthony CharrieAnthony Charrie is a Principal in Oliver Wyman’s Public Policy practice. He is specialized in advising Governments, Central Banks and supervisors on AML/CFT-related matters. In particular, he has supported multiple jurisdictions in conducting and drafting their National Risk Assessment (NRA) and national AML/CFT strategy in Europe and North America; he works regularly with financial supervisors to help them enhance their capabilities and address gaps in their supervisory processes and practices; and he worked with Financial Intelligence Units (FIUs) and law enforcement agencies across many jurisdictions (e.g. currently supporting the UK’s Home Office and National Crime Agency with designing and implementing the SARs reform).
Andrea FedericoAndrea Federico is a Partner at Oliver Wyman. Andrea is responsible for Oliver Wyman’s work with central banks, regulators and development banks across EMEA and beyond. Andrea is also the managing partner of Oliver Wyman – SPP, an internal unit solely devoted to acting as a global trusted advisor to financial services authorities on issues relating to governance arrangements, effective decision making, financial stability et alia. The unit is truly unique across the industry due to its specific focus and the team’s composition that comprises a number of former senior public officials and tenured strategy consultants. Oliver Wyman – SPP is chaired by Sir Andrew Larger, formerly Deputy Governor of the Bank of England. Andrea’s recent work includes regulatory and financial sector reform, asset quality review and stress testing, resolution frameworks and strategies, governance arrangements and effective decision making for Central Banks boards.
Klara JandovaKlara Jandova is Principal in Oliver Wyman’s Finance & Risk practice, based in Milan. Klara regularly advises leading financial institutions on management of both financial and non-financial risks, with special focus on anti-financial crime. Klara’s expertise covers work on review and design of operating models, risk assessment and risk appetite setting as well as use of data and analytics in non-financial risk management.
Graeme JefferyGraeme Jeffery is a Partner in Oliver Wyman’s Digital, Technology, Operations & Analytics and Corporate and Institutional Banking Practices. Graeme brings 20 years of financial services experience having worked in technology and operations roles at three global banks: Goldman Sachs, UBS and JPMorgan. Graeme has managed Client Onboarding and KYC/AML teams directly for banks. He leads much of Oliver Wyman’s work in Anti-Financial Crime which include banks, inter-dealer brokers, market utilities and private equity firms across. In the consulting work, Graeme covers a broad range of topics covering remediation programs set-up and management, redesign of operating models and of control processes, selection of technology solutions, development of KYC utility business models etc.
Dominik KäferDominik Käfer is a Partner n Oliver Wyman’s Finance and Risk Practice. He is an experienced Financial Services Professional and ex Director of HSBC Global Risk Management having worked with Global Institutions and Professional Firms in EMEA, Asia Pacific and Americas. Dominik’s areas of expertise comprise Financial Crime Compliance, Operational Risk, Strategy Definition and Operationalization of Compliance Standards incl. AML, KYC, Anti Fraud, Counter Terrorist Financing and Anti-Bribery & Corruption. He has managed the delivery of global compliance strategies, business impact analyses and operating model implementations across multiple business areas, jurisdictions and legal entities of global organizations with significant US exposure. He has recently lead a number of projects designing the approach for strategic Anti-Fraud and Anti-Financial Crime Risk Assessments for leading Global banks.
Giuseppe La SordaGiuseppe La Sorda is since 2015 the Head of the Anti Money Laundering Central Department at Intesa Sanpaolo S.p.A., in the framework of the activities of the Chief Compliance Officer. He is member of the Committee Coordination and Control of Intesa Sanpaolo S.p.A. and member of Audit Committee of Banca Intesa Russia. From 2011 he was the Head of the Anti Money Laundering Service of Intesa Sanpaolo group and from 2008 Head of the Group Coordination Service, which included the Anti Money Laundering Office. Previously, from 2005 to 2008 he was CEO of Sanpaolo Bank S.A. in Luxembourg.
Jonathan Overett SomnierJonathan Overett Somnier is Head of Legal at the European Banking Authority. He joined the EBA in December 2012 and has headed its Legal Services unit since April 2014. His team advises on the full range of regulatory, supervisory and institutional issues at the EBA, leading the EBA’s investigations into breaches of Union law by supervisors and resolution authorities, and mediating disputes that arise between them. Before joining the EBA, Mr. Overett Somnier spent five years in the General Counsel’s Department at the UK Financial Services Authority where he worked on retail markets, payment services and banking prudential issues before being seconded to ESMA for two years as its initial legal adviser. Previously he advised on financial services and funds as a solicitor in private practice in London. Mr. Overett Somnier has a degree in law from Cambridge University.
Eleni TsingouEleni Tsingou is Associate Professor in International Political Economy at Copenhangen Business School. Her primary academic field is financial governance and how transnational policy communities shape regulatory practices. She is currently researching on expert networks in economic governance and on how professional networks address complex global issues, with a focus on demographic change in OECD countries. For the period 2018-2021, she is also involved in a project funded by the Norwegian Research Council on the role of consultants and experts in the definition of implementation of banking regulation standards. She serves on the Editorial Board of the RIPE/Routledge series in Global Political Economy and is a convenor of the network on ‘Regulation and Governance’ of the Society for the Advancement of Socio-Economics.
This course is open to:
- Representatives of supervisory authorities (>5 years of experience) and a professional interest in AML risk supervision
- Professionals from the financial services industry (>10 years of experience in financial services) currently involved in the AML / anti-financial crime field
- Academics (Ph.D. or Post-graduate researchers) with a specific interst in AML/CTF
1750€ – Public Authorities (e.g. National Competent Authorities, Central Banks) and European Institutions
1900€ – Private Sector
1000€ – Academics (Assistant, Associate or Full Professors)
850€ – Students (with certificate of studies)
The course fee covers coffee and lunch breaks. Travel and hotel costs are not included.
No group deals apply to this course.
- In case a course is cancelled, registered participants will receive the full refund.
- In case a course is moved to another date, registered participants may request a voucher to attend another FBF course.
- Registered participants who cancel their participation will receive a voucher to attend another FBF course.
For more details, please contact firstname.lastname@example.org
- Hotel Villa La Stella (20 min walking distance from EUI )
- Hotel Cellai
- Hotel de la Pace
- Hotel Il Guelfo Bianco
- Hotel Rosso 23
Suggested restaurants in Florence city centre
- Restaurant Accademia – Ph. +39 055 217343
- Restaurant Cucina Torcicoda – Ph. +39 055 265 4329
- Finisterrae – Ph. +39 0552638675
- La Cucina del Garga – Ph. +39 055 475 286
- Il Vezzo – Ph. +39 055 281096
- Osteria di Giovanni – Ph. + 39 055 284897
On arrival, participants will be provided with temporary wi-fi access for the whole duration of the course.
General information on local transport
From Florence airport:
Florence airport is located 8 km from the city centre, approximately 30 minutes by taxi or bus. Taxis can be found outside the arrivals terminal; no reservation is needed. A taxi ride from the airport costs about €20 and takes approximately 25/30 minutes.
The airport is also connected to the main railway station in Florence by a shuttle bus (‘Vola in bus’) that leaves every 30 minutes (on the hour and on the half-hour) and takes 25 minutes. Tickets are available on board for €6.00.
From the central railway station:
Take bus n. 17 to via Venezia. Change to bus n. 7 direction ‘Fiesole’; get off at the stop ‘San Domenico 01’. For bus routes and timetables consult: http://goo.gl/Ydj8K
Bus tickets are sold outside the railway station, at ATAF ticket kiosks and vending machines, tobacconists (tabacchi), newspaper kiosks (edicole), and most cafes (bar). They must be bought before boarding and stamped using the machine on the bus. A ticket costs €1.50 and it is valid for 90 minutes. Bus tickets can be purchased also on board (€ 2.50), but the driver is not obliged to give change.
From the A1 Milano-Napoli (Autostrada del Sole), take the Firenze Sud exit and follow directions to the city centre/Stadio. Follow the directions to the stadium (Stadio), then for Fiesole. San Domenico is on the main road to Fiesole.
The EUI has several free parking areas available all over the Campus.