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Evidence Guide: FNSAML806 - Implement an anti-money laundering and counter terrorism financing program

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Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

FNSAML806 - Implement an anti-money laundering and counter terrorism financing program

What evidence can you provide to prove your understanding of each of the following citeria?

Implement an AML/CTF program

  1. Review requirements for the new, redesigned or reconfigured AML/CTF program and develop an implementation plan
  2. Consult, negotiate and communicate the implementation plan with stakeholders including work redesign and resource allocation
  3. Ensure procedures and/or system requirements are developed, tested and refined
  4. Analyse and adopt organisational change processes to integrate new, redesigned or reconfigured AML/CTF requirements
  5. Develop a communication strategy for promoting and sustaining staff awareness of the AML/CTF program
  6. Consult with relevant personnel to ensure staff training programs and arrangements are established within required timeframes
Review requirements for the new, redesigned or reconfigured AML/CTF program and develop an implementation plan

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Consult, negotiate and communicate the implementation plan with stakeholders including work redesign and resource allocation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure procedures and/or system requirements are developed, tested and refined

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse and adopt organisational change processes to integrate new, redesigned or reconfigured AML/CTF requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop a communication strategy for promoting and sustaining staff awareness of the AML/CTF program

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Consult with relevant personnel to ensure staff training programs and arrangements are established within required timeframes

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor an AML/CTF program

  1. Design monitoring and supervision processes to ensure regular reviews of AML/CTF compliance
  2. Collect, analyse and report performance data against program goals and performance criteria
  3. Ensure rectification of any AML/CTF related compliance failings
  4. Report and consult on progress and performance with stakeholders
Design monitoring and supervision processes to ensure regular reviews of AML/CTF compliance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Collect, analyse and report performance data against program goals and performance criteria

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure rectification of any AML/CTF related compliance failings

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Report and consult on progress and performance with stakeholders

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review and evaluate an AML/CTF program

  1. 3.1 Monitor organisational business strategy and legislative and regulatory environment for changes that may impact on the organisation's AML/CTF program
  2. 3.2 Consult with stakeholders on strategies for continuous improvement of the organisation's AML/CTF program
  3. Report review findings to senior management and/or the Board as required
  4. Oversee the communication of further changes to the AML/CTF program to staff and ensure requirements are implemented
3.1 Monitor organisational business strategy and legislative and regulatory environment for changes that may impact on the organisation's AML/CTF program

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

3.2 Consult with stakeholders on strategies for continuous improvement of the organisation's AML/CTF program

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Report review findings to senior management and/or the Board as required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Oversee the communication of further changes to the AML/CTF program to staff and ensure requirements are implemented

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Implement an AML/CTF program

1.1 Review requirements for the new, redesigned or reconfigured AML/CTF program and develop an implementation plan

1.2 Consult, negotiate and communicate the implementation plan with stakeholders including work redesign and resource allocation

1.3 Ensure procedures and/or system requirements are developed, tested and refined

1.4 Analyse and adopt organisational change processes to integrate new, redesigned or reconfigured AML/CTF requirements

1.5 Develop a communication strategy for promoting and sustaining staff awareness of the AML/CTF program

1.6 Consult with relevant personnel to ensure staff training programs and arrangements are established within required timeframes

2. Monitor an AML/CTF program

2.1 Design monitoring and supervision processes to ensure regular reviews of AML/CTF compliance

2.2 Collect, analyse and report performance data against program goals and performance criteria

2.3 Ensure rectification of any AML/CTF related compliance failings

2.4 Report and consult on progress and performance with stakeholders

3. Review and evaluate an AML/CTF program

3.1 Monitor organisational business strategy and legislative and regulatory environment for changes that may impact on the organisation's AML/CTF program

3.2 Consult with stakeholders on strategies for continuous improvement of the organisation's AML/CTF program

3.3 Report review findings to senior management and/or the Board as required

3.4 Oversee the communication of further changes to the AML/CTF program to staff and ensure requirements are implemented

Required Skills and Knowledge

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Implement an AML/CTF program

1.1 Review requirements for the new, redesigned or reconfigured AML/CTF program and develop an implementation plan

1.2 Consult, negotiate and communicate the implementation plan with stakeholders including work redesign and resource allocation

1.3 Ensure procedures and/or system requirements are developed, tested and refined

1.4 Analyse and adopt organisational change processes to integrate new, redesigned or reconfigured AML/CTF requirements

1.5 Develop a communication strategy for promoting and sustaining staff awareness of the AML/CTF program

1.6 Consult with relevant personnel to ensure staff training programs and arrangements are established within required timeframes

2. Monitor an AML/CTF program

2.1 Design monitoring and supervision processes to ensure regular reviews of AML/CTF compliance

2.2 Collect, analyse and report performance data against program goals and performance criteria

2.3 Ensure rectification of any AML/CTF related compliance failings

2.4 Report and consult on progress and performance with stakeholders

3. Review and evaluate an AML/CTF program

3.1 Monitor organisational business strategy and legislative and regulatory environment for changes that may impact on the organisation's AML/CTF program

3.2 Consult with stakeholders on strategies for continuous improvement of the organisation's AML/CTF program

3.3 Report review findings to senior management and/or the Board as required

3.4 Oversee the communication of further changes to the AML/CTF program to staff and ensure requirements are implemented

Evidence of the ability to:

document an implementation plan to address new or changed requirements for the organisation's anti-money laundering and counter terrorism (AML/CTF) program

design and implement a system to monitor and review AML/CTF program and organisational policies and procedures.

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:

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

explain processes for monitoring AML/CTF related compliance failings including internal audit and compliance arrangements

explain how information and data are captured and collated and how this information is recorded and managed

compare and contrast a range of management planning tools

explain how the AML/CTF program is reviewed and the decision making process used to determine alignment to strategic operations and relevant legislation

provide examples of how internal and external environmental factors are taken into account

outline key features of an organisational communication strategy

explain processes for monitoring AML/CTF related compliance failings including internal audit and compliance arrangements.