Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners

FNSAML801 Mapping and Delivery Guide
Design an anti-money laundering and counter terrorism financing program

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSAML801 - Design an anti-money laundering and counter terrorism financing program
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to design and develop an organisation's anti-money laundering and counter terrorism financing (AML/CTF) program to meet organisational goals and regulatory requirements. It covers the research and analysis of requirements and the design and development of a new, redesigned or reconfigured AML/CTF program.It applies to individuals who use specialised AML/CTF knowledge and skills to evaluate complex information and compliance requirements and apply to relevant tasks. Individuals typically lead and review organisation wide activities, exercise significant autonomy, responsibility and accountability and contribute to the strategic goals and operations of the organisation. They review, critically analyse, consolidate and synthesise knowledge to generate ideas and provide solutions to complex problems. No licensing, legislative or certification requirements apply to this unit at the time of publication.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the AML/CTF field and include access to:

relevant legislation, regulations, standards and codes

relevant organisational records, systems and policies and procedures.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.
Prerequisites/co-requisites
Competency Field
Development and validation strategy and guide for assessors and learners Student Learning Resources Handouts
Activities 		Slides
PPT 		Assessment 1 Assessment 2 Assessment 3 Assessment 4
Elements of Competency Performance Criteria              
Element: 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
       
Element: 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
       
Element: 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
       


Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Research and analyse requirements for AML/CTF program development

1.1 Analyse legislative and regulatory requirements relevant to AML/CTF policy and practice including specific requirements of the National Privacy Principles

1.2 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

1.4 Research and assess other relevant guidance including industry codes and standards, sector counterparts and international regulators

1.5 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

2.1 Review outcomes of research and design a program for a new, redesigned or reconfigured AML/CTF program in consultation with key personnel

2.2 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

2.3 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

3.1 Oversee the preparation of draft policies and procedures and specifications for changes to system requirements

3.2 Consult with stakeholders to seek input and feedback on new, redesigned or reconfigured AML/CTF program to ensure agreement and ownership

3.3 Lead evaluation of feedback on draft policies and procedures and system requirements, and authorise changes

3.4 Designate responsibility and accountability in job roles and/or organisational sections for ensuring compliance with aspects of the AML/CTF program

3.5 Develop AML/CTF program goals and performance criteria

3.6 Secure approval from senior management or Board for the new, redesigned or reconfigured AML/CTF program

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.

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.

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Research and analyse requirements for AML/CTF program development

1.1 Analyse legislative and regulatory requirements relevant to AML/CTF policy and practice including specific requirements of the National Privacy Principles

1.2 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

1.4 Research and assess other relevant guidance including industry codes and standards, sector counterparts and international regulators

1.5 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

2.1 Review outcomes of research and design a program for a new, redesigned or reconfigured AML/CTF program in consultation with key personnel

2.2 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

2.3 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

3.1 Oversee the preparation of draft policies and procedures and specifications for changes to system requirements

3.2 Consult with stakeholders to seek input and feedback on new, redesigned or reconfigured AML/CTF program to ensure agreement and ownership

3.3 Lead evaluation of feedback on draft policies and procedures and system requirements, and authorise changes

3.4 Designate responsibility and accountability in job roles and/or organisational sections for ensuring compliance with aspects of the AML/CTF program

3.5 Develop AML/CTF program goals and performance criteria

3.6 Secure approval from senior management or Board for the new, redesigned or reconfigured AML/CTF program

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
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 
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 
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 

Forms

Assessment Cover Sheet

FNSAML801 - Design an anti-money laundering and counter terrorism financing program
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Assessment Record Sheet

FNSAML801 - Design an anti-money laundering and counter terrorism financing program

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