Discussion
oldbanger said:
Random question of the week no 437:
If I was looking to learn about AML in a way that would also make my cv more attractive for the financial sector, what would be the ideal course or route to do so?
There are a few different courses, even a few diplomas. Are they valued very much?
I don't have direct experience but work in a similar field.If I was looking to learn about AML in a way that would also make my cv more attractive for the financial sector, what would be the ideal course or route to do so?
There are a few different courses, even a few diplomas. Are they valued very much?
Edited by oldbanger on Thursday 26th June 22:46
I'd guess that a diploma by itself would only be useful for the most junior roles. Rather the diploma alongside relevant experience would perhaps give you one over other candidates or could be used to show that you're up to date - which is probably pretty key in this area.
I worked in a related role for a 'Big Four' company.
I didn't bother with the certification but this one was the one that was used.
http://www.int-comp.org/ICA%20Certificated%20Anti%...
Is it useful? It depends on what the role is for and where you're coming from and your career goals.
I didn't bother with the certification but this one was the one that was used.
http://www.int-comp.org/ICA%20Certificated%20Anti%...
Is it useful? It depends on what the role is for and where you're coming from and your career goals.
A course wouldn't hurt, but cheaper (and arguably more useful) to bring yourself up to speed on the fine detail of the Money Laundering Regulations and the JMLSG guidance to the point that you can talk fluently about them and their operational implications.
The reality is that once you understand the implications of adopting a risk based approach you'll discover the regulations/guidance is pretty straightforward and, with a couple of exceptions, fairly non-prescriptive.
If you're serious about getting deeply into AML, then it might be worth trying to find an MLRO course instead of a general introductory one.
The reality is that once you understand the implications of adopting a risk based approach you'll discover the regulations/guidance is pretty straightforward and, with a couple of exceptions, fairly non-prescriptive.
If you're serious about getting deeply into AML, then it might be worth trying to find an MLRO course instead of a general introductory one.
I'd agree with the suggestion to learn the regs and JMLSG guidance so you can demonstrate knowledge. Also read whatever you can find on the FCA and IMA website (the being regulated side for firms) as there have been lots of consultations and speeches made on the subject. Definitely do exams (CISI for example) but the way to add value is to read around the subject and come up with your own views and analysis, more so in this area than many others.
At a lot of firms (smaller firms rather than mid to large) you might also find the people doing the hiring may not be AML experts or even that close to it, perhaps wanting someone to come in and take it off their hands.
At a lot of firms (smaller firms rather than mid to large) you might also find the people doing the hiring may not be AML experts or even that close to it, perhaps wanting someone to come in and take it off their hands.
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