The ROLE AML training framework – SRA thematic review on AML training

Description

The Legal Sector Affinity Group (LSAG) guidance, chapter 8 states that ‘your staff members and others that provide services to your customers are the most effective defence against your firm becoming inadvertently involved in money laundering and terrorist financing’.

Regulation 24 of the Money Laundering Regulations 2017 states that all firms must ensure that relevant employees receive regular AML training which includes making them aware of the law relating to money laundering, terrorist financing and to the requirements of data protection which are relevant to the MLRs.

The SRA are finding that some firms are still not training their relevant staff or that the training is inadequate with firms keeping inadequate training records. We also see lack of training being one of the key elements missing when firms have been fined. With this in mind, the SRA conducted a thematic review for a few months last year in relation to AML training. The report on the review was released on 30 October 2024 and makes for interesting reading.

Using the SRA’s identified key areas which are important for creating an effective training programme, ROLE for short, this webinar will look at how the SRA conducted the review, what their findings were in relation to good and poor practices ad how we can deliver better AML training.

What you will learn

In this session covering the facts, finding and figures of the thematic review report we will learn:

• The methodology used to undertake this review
• The findings of the review including good and poor practices
• The views of training providers and what they are seeing
• How to put together an effective AML training programme using the ROLE method the SRA have introduced
  • R – Relatable
  • O – Ongoing
  • L – Leadership
  • E – Engaging
• Additional training required for the MLRO/MLCO
• AML training in connection with continuing competence

The Presenter

Joanna Morris has over thirty years’ experience of working in solicitors’ practices from being a legal cashier, practice manager and training manager. Joanna is a freelance trainer and consultant, having previously been the Risk and Regulatory Compliance Training Manager at a top 40 law firm.

Jo currently delivers training in many compliance subjects, both to the public and in-house clients, on AML, GDPR, SRA Accounts Rules and courses designed specifically for the MLRO, DPO, COLP and COFA. She is a qualified NVQ assessor and holds a Certificate In Education for Teaching in the Lifelong Learning Sector.

She was highly commended in June 2011 by the Legal Education and Training Group (LETG) in the category Best Programme for Lawyers for Solicitors Accounts Rules training. She was shortlisted in the Compliance Trainer of the Year category in the C5 Women in Compliance Awards in 2014.