The PEP Puzzle: Practical Solutions for Risk Mitigation - Compliance

Comprehensive Understanding of PEPs:
Gain clarity on the definition, categories, and significance of Politically Exposed Persons (PEPs) in AML/CFT compliance.

Navigating Regulatory Expectations:
Explore the regulatory framework and best practices for identifying and managing PEP risks in Malaysia and globally.

Overcoming Identification Challenges:
Learn to address complexities such as data inaccuracies, undisclosed connections, and false positives in PEP screening.

Implementing Effective Risk Mitigation:
Discover practical tools, technologies, and strategies to operationalize Enhanced Due Diligence (EDD) and manage PEP risks.

Real-World Case Studies:
Analyse real-life scenarios to understand challenges, avoid pitfalls, and adopt proven risk mitigation techniques.

Programme Outline

Learning Objectives

By the end of the programme, participants will be able to:

Identify key characteristics and categories of Politically Exposed Persons (PEPs), including their Family Members and Close Associates (FM/CA)
Understand the regulatory expectations and best practices for managing PEP risks in compliance with Malaysian and global AML/CFT standards
Analyse the challenges associated with identifying PEPs and their associated risks, including data accuracy and operational constraints
Apply effective Enhanced Due Diligence (EDD) measures for PEPs, including risk-based approaches and monitoring frameworks
Utilise tools and technologies for PEP screening, identification, and ongoing risk management
Mitigate risks associated with PEP accounts by implementing robust policies, processes, and collaborative strategies across teams
Learn from real-world case studies to avoid common pitfalls and adopt successful risk mitigation strategies

Programme Outline

Politically Exposed Persons (PEP)
1. Introduction to PEPs
Definitions and types
Regulatory Overview

2. Challenges in PEP Identification
Key Complexities
Operational Challenges

3. Operationalising PEP identification
Best Practices
Tools
Process

4. Mitigating risks and ensuring compliance
Tips
Best practices

5. Conclusion and wrap up
Overview, challenges and tips

METHODOLOGY

Presentations, videos, case studies and discussions

Participant profile

Compliance, AML team, Audit team, AML Operations, Wholesale Banking, Financial Institutions

Trainer

John Cheah

Training Consultant, Asian Banking School

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John Cheah

Training Consultant, Asian Banking School

John Cheah has 24 years of working experience with a career that spanned being at an international consultancy and 3 foreign banks. He spent 4 years in external audit and 20 years in banking, where he specialised in Anti-Money Laundering and Counter Terrorism Financing (AML/CFT). His audit experience included performing internal and external audits at various types of companies, especially at insurance firms.

His banking career saw him covering multiple roles within the AML/CFT Compliance function. This included policy advisory, transaction monitoring, suspicious transaction reporting, procedures development and other related areas. He spent the last 10 years of his career developing and enhancing the AML/CFT framework of a commercial bank, which included pioneering an AML/CFT review team, designing AML/CFT risk assessments for branches and the entity, as well as running the bank’s AML/CFT training programme for all segments within the organisation.

John has a Bachelor’s degree in Accounting and Finance from the University of London and was an ACCA member. He moved into the space of Financial Crime Compliance soon after and has been a certified member of the Association of Anti-Money Laundering Specialists (ACAMS) since 2011. He also holds the Advanced Diploma in AML/CFT issued jointly by the Asian Institute of Chartered Bankers and International Compliance Association. John is also a HRD Corp certified trainer.

On the personal front, John enjoys public speaking and achieved the Distinguished Toastmaster (DTM) status from the global organisation Toastmasters International in 2012.