Financial Crime World

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Compliance Training a Must for New Zealand Financial Institutions

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In today’s regulatory landscape, compliance training is more crucial than ever for financial institutions operating in New Zealand. To ensure they meet their obligations under anti-money laundering and counter-terrorism financing (AML/CFT) legislation, financial institutions must provide regular training to their staff.

Compliance Training Courses

A leading provider of AML/CFT training has launched a range of courses designed specifically for the financial sector in New Zealand. These courses will equip compliance officers and other stakeholders with the knowledge and skills they need to effectively manage risk and ensure compliance.

Course Topics

  • Customer Due Diligence
  • Account Monitoring
  • Suspicious Transaction Reporting
  • Record Keeping

Upcoming Courses

Compliance Officer Training: July 3, 2024

Duration: 2 hours

This course is designed for AML/CFT compliance officers and covers key obligations, compliance frameworks, customer due diligence, account monitoring, suspicious transaction reporting, managing and mitigating risk, record keeping, and training and vetting.

Customer Due Diligence Training: July 2, 2024

Duration: 2 hours

This course is designed to help compliance staff understand the complexities of customer due diligence, including standard CDD, simplified CDD, enhanced CDD, complex structures, source of wealth or funds, operationalisation, and case studies.

Advanced Customer Due Diligence Training: Dates TBC

Duration: 2 hours

This advanced course is designed for AML/CFT staff who already have a solid understanding of basic customer due diligence requirements. It covers managing intermediaries, overseas certification, exception management, complex worked examples, and CDD oversight.

Effective Internal Assurance Training: Dates TBC

Duration: 2 hours

This course is designed to help reporting entities create an effective internal assurance regime. It covers the importance of assurance, principles of effective assurance, design process, practical application, feedback loops and refinement, and assurance as a management tool.

Senior Management & Board Training: Dates TBC

Duration: 1.5 hours

This workshop is aimed at senior managers and board members who are not directly involved in day-to-day AML/CFT matters. It covers the high-level overview of the AML/CFT regime, regulatory requirements for AML compliance, the complexity of a risk-based AML/CFT regime, the role of senior managers in ensuring AML compliance, importance of periodic testing and monitoring of AML controls, and monitoring metrics and KPIs for AML risk management and reporting.

Professional Services Training: Dates TBC

Duration: 2 hours

This course is designed specifically for compliance officers in the professional services sectors of law and accounting. It covers wider AML/CFT matters, client capture management, trust account transaction monitoring, nature and purpose across various matters, governance and reporting, client risk assessment, and complex CDD.

Transaction Monitoring Training: July 25

Duration: 2 hours

This course provides a comprehensive overview of transaction monitoring, covering key obligations under the Act, placement, layering and integration, ‘red flag’ indicators and how to spot suspicious behaviours, tools for frontline staff, automated and manual account monitoring, conducting financial investigations, and more.

In-House Training

For those who prefer in-house training, the provider offers customized courses tailored to specific institutional needs. Contact them today to learn more about their comprehensive range of AML/CFT training solutions.