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AML Operating Manual

1. Overview

After the AML Program Manual has been documented the key challenge for most organisations is how to translate essentially policy objectives into practical and actionable operational procedures.

This is where the AML Operating Manual is designed to operate to assist regulated entities in articulating the risk based systems, procedures and controls that they have actually implemented to address the statements that have been committed to in the AML Program Manual and supporting documents.

2. Structure of the AML Operating Manual/Procedure

Getting started on developing the AML Operating Manual/Procedure could not be simpler.

Based on decades of experience and practical AML operational knowledge our experts have developed a template for the AML Operating Manual/Procedure that covers a range of areas that AML regulators would typically expect to see, including:

• AML Operating Manual
• ML/TF Risk Assessment
• Roles and Responsibilities
• Customer Acceptance
• Screening for Politically Exposed Persons
• Screening for Targeted Financial Sanctions
• Ongoing Customer Due Diligence
• Transaction Monitoring Program
• Enhanced Customer Due Diligence
• AML Training
• Record Keeping
• Reporting Threshold Transactions
• Identifying Unusual Activity
• Reporting Suspicions
• Calendar

3. How it works

The AML Operating Manual/Procedure is laid out in the above standard sections but can be fully tailored and configured to suit the specific requirements of your organisations particular circumstances.

The AML Operating Manual/Procedure describes under each section the typical information that should be included and the requisite level of detail and information that an AML regulator might typically expect to see when reviewing an AML Program to determine whether it has been designed effectively and is operating effectively..

After the AML Operating Manual/Procedure has been edited and the user has completed the review step then this can be published which automatically stores an online and PDF version into the audit history page of the AML Operating Manual/Procedure.

Important:

This has been designed to be a thought kick-starter, rather than something that can be adopted wholesale without any consideration of your organisations particular circumstances, so it is very important to read carefully and modify the template accordingly.

4. Getting Started

Getting started with a new AML Operating Manual/Procedure is easy. 

Select AML Operating Manual/Procedure from the menu and you will be taken to the following screen indicating that there are no previous AML Operating Manual/Procedure.

Click on the New AML Operating Manual/Procedure button of click the hyperlink inside the red box to get started.

Next you will be required to name the AML Operating Manual/Procedure.

After this the pre-populated AML Operating Manual/Procedure is displayed and can be edited to suit your specific requirements.

5. Editing Content

The AML Operating Manual/Procedure has an in-built rich text editor, similar to Microsoft Word, which allows you to fully control the text, for example, applying bold, colour, italic, headings, bullets, text location and tables etc.

Simply click on the section that you want to edit, make the changes and click save.

Important:

You will notice some text in yellow which contain suggestions, for example, frequency, ownership or other information which we are drawing the users attention to specifically so that this can be changed to the organisations specific circumstances.

6. Adding Content

As well as each pre-defined section being able to be edited, the AML Operating Manual/Procedure has the flexibility to add new chapters (new sections in the document) which is done by clicking the Add Chapter button which will add this to the bottom of the document (which can be re-ordered).

The user can also add sections, sub-sections and descriptions (paragraph blocks) to the AML Program Manual by clicking the three dots ... next to the menu header or sub-titles, which once selected will insert a fresh section to be populated.

7. Re-ordering Content

The layout of the AML Operating Manual/Procedure can be easily changed, which essentially changes the order in which the document is ultimately rendered.

To do this click on the 'REORDER' button and drag and drop the sections and sub-sections into the desired order and then click save or save and exit, to return back to the main AML Operating Manual/Procedure edit page.

8. Publishing the AML Operating Manual/Procedure

After all of the edits have been made to the AML Operating Manual/Procedure it is ready to be published.

This can be done by clicking the Publish button at the bottom of the document.

A warning message is displayed indicating that once a document has been published it can NOT be unpublished, so please ensure that you have made all of the changes as required before committing the document to PDF, which is done automatically after clicking the OK button.

After the AML Operating Manual/Procedurel is published it appears in the AML Operating Manual/Procedure - Audit History page, including the publish date and can either be viewed online by clicking the magnifying glass icon or download to PDF using this icon.