Training Objectives

Participants of the programme will attain an understanding of the duties and responsibilities of a Compliance Officer employed by an AIFM.

Through a practical analysis of the AML & other Regulatory Compliance obligations of AIFMs internally, and also in relation to the AIFs they manage participants will learn what actions an AML and Compliance officer needs to take to ensure the compliance of the AIFM with the applicable laws and regulations.

Training Outline

An overview of the Legal Framework in relation to Funds in Cyprus.

General AML and Compliance Principles

Duties and Responsibilities of the AML Compliance Officer in relation to the AIFM internally:

• The Profile of the AIFM’s AML Compliance Officer. Duties & Responsibilities outline
• Assessing and ongoing monitoring of the constant compliance of the AIFM with all applicable regulatory and legislative provisions.
• Communication with CYSEC to dissolve issues related to the compliance of the AIFM
• Reporting Control Duties of the Compliance Officer in relation to the AIFM and the AIFs under management. drafting, review, observance of deadlines
• AML Manual Drafting, Internal and external Reporting Procedures, Guidelines on implementation
• Other procedures & manuals: (1) Conflicts of Interest/Personal Transactions, 2. GDPR
• Remain updated and implementing Watch lists, Restriction lists, regulatory updates & legal developments
• Regulatory Guidance, constant Updating & Training of Personnel
• Control of the Portfolio Function and the Risk Management function of the AIFM
• Review & Control of Marketing materials and publications
• On-boarding of clients – KYC, AML screening, Agreements
• Assessment and ongoing Monitoring of Delegated functions
• Risk & Compliance Committees
• Capital Adequacy control
• AIFM Licence: ensuring compliance with the conditions of the licence, obtaining Extensions
• Assessing/observing the adequacy and effectiveness of policies and procedures, constant updating & addressing any deficiencies

Special Duties and Responsibilities of the compliance officer in relation to AIF’s under management

Upcoming legal developments in relation to AML. A speculation on what to expect

Who Should Attend

This course will be of benefit to AML and Compliance officers employed by AIFMs or internally managed AIFs as well as other AML and compliance officers/experts who wish to get involved with AIFMs and AIFs.

It may also prove particularly useful to other professionals employed in the Fund Sector or seeking to join the Fund Industry such as Fund Managers, Fund Administrators, Depositories/Custodians, Risk Managers or third – party professionals (such as Lawyers, Accountants and Fiduciary Service Providers), who will gain a general understanding of the AML & Regulatory Compliance obligations of AIFMs internally and also in relation to the AIFs they manage.

Training Style

Through an illustrated presentation a detailed account will be provided along with questions and answers throughout the workshop. Real time examples will be provided, and participants will be actively involved through an exchange of views and personal professional experiences.

CPD Recognition

This programme may be approved for up to 10 CPD units in AML and Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.

This training course may be approved as an external activity under the  new  ACAMS  recertification  category  ”non-ACAMS credits” for up to 10 CPD units. Eligibility criteria and CPD Units are verified directly by the Association of Anti-Money Laundering Specialists (ACAMS). To read more about the non-ACAMS credits policies and eligibility criteria please click here.

In-house Training

For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.