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Senior management training, accountability and oversight for anti-money laundering compliance

Author

Listed:
  • Miller, Zachary C.
  • Kohr, Lauren

Abstract

The aim of the paper is to communicate to AML compliance professionals about the importance of educating their boards of directors and/or institutional management teams so that they can create a culture of compliance that will permeate the organisation from the top down. The paper discusses how to accomplish this through appropriate approaches to training, what metrics to focus, how to establish accountability and things to consider in a compliance/risk assessment. There are few references in the paper due to much of it being based on the collective experience of the authors and how such items were handled in the organisation where both previously worked: both authors carry similar principles into their current organisations. The general format of the paper is that of a white paper, in that the authors are trying to persuade the audience to take a similar approach to what they have outlined.

Suggested Citation

  • Miller, Zachary C. & Kohr, Lauren, 2017. "Senior management training, accountability and oversight for anti-money laundering compliance," Journal of Financial Compliance, Henry Stewart Publications, vol. 1(1), pages 81-88, June.
    • Handle: RePEc:aza:jfc000:y:2017:v:1:i:1:p:81-88
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    More about this item

    Keywords

    accountability; oversight; training; risk; metrics;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K2 - Law and Economics - - Regulation and Business Law

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