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Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. Research and analyse requirements for AML/CTF program development
   • Analyse legislative and regulatory requirements relevant to AML/CTF policy and practice including specific requirements of the National Privacy Principles
   • Evaluate the AML/CTF implications for the products and services offered by the organisation
   • 1.3 Analyse and assess the organisation's AML/CTF program requirements and goals, considering the organisation’s nature, scale and complexity of business
   • Research and assess other relevant guidance including industry codes and standards, sector counterparts and international regulators
   • Collate and analyse organisational data and trends relating to AML/CTF activity and controls
   • 1.6 Synthesise outcomes of research and analysis and brief relevant personnel on the implications of the findings for the organisation's AML/CTF program
2. Design an AML/CTF program for an organisation
   • Review outcomes of research and design a program for a new, redesigned or reconfigured AML/CTF program in consultation with key personnel
   • Document a proposal for a new, redesigned or reconfigured AML/CTF program that includes consideration of resource allocations, assessment of risk and prioritised actions and timeframes
   • Present proposal for a new, redesigned or reconfigured AML/CTF program, advocate benefits and secure approval from senior management and/or the Board
3. Develop the AML/CTF program
   • Oversee the preparation of draft policies and procedures and specifications for changes to system requirements
   • Consult with stakeholders to seek input and feedback on new, redesigned or reconfigured AML/CTF program to ensure agreement and ownership
   • Lead evaluation of feedback on draft policies and procedures and system requirements, and authorise changes
   • Designate responsibility and accountability in job roles and/or organisational sections for ensuring compliance with aspects of the AML/CTF program
   • Develop AML/CTF program goals and performance criteria
   • Secure approval from senior management or Board for the new, redesigned or reconfigured AML/CTF program

Performance Evidence

Evidence of the ability to:

present research and analysis findings for requirements for an organisational anti-money laundering and counter terrorism (AML/CTF) program

develop a proposal for a new, redesigned or reconfigured AML/CTF program that includes consideration of resource allocations, assessment of risk and prioritised actions and timeframes

develop and document an AML/CTF program including policies and procedures, system requirements and goals and performance criteria .

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

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Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

explain the outcomes of an analysis of the nature of the products and services offered by the organisation

describe the outcomes of the analysis of organisational data relating to AML/CTF activity and controls

outline the key features and requirements of the legislative, regulatory and industry requirements relating to AML/CTF

outline key recommendations relating to AML/CTF programs and determined from an evaluation of industry codes and standards, sector counterparts and international regulators

explain methods for measuring AML/CTF compliance against goals and performance criteria

compare and contrast various formats for documenting and presenting AML/CTF programs.

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