Developing a Risk-Management Matrix for Non-Bank Financial Institutions (NBFIs) to Comply with AML Laws

Duration: 60 Minutes
Non-bank financial institutions are increasingly facing pressure from regulators for more effective risk screening and management to prevent those institutions and their products and services from abuse and exploitation for fraud, corruption, money laundering and other financial crimes. These regulations call for such institutions to develop and implement appropriate risk identification and management frameworks within which to identify potential risks and determination how best to mitigate or avoid those with high risk potential. This one-hour presentation will examine approaches and strategies for non-bank financial institutions to take in creating an effective and viable risk management system.
Risk-Management Matrix for NBFIs
Instructor: Kenneth Barden
Product ID: 507934
Objectives of the Presentation
  • What kinds of risks are non-bank financial institutions potentially subjected to?
  • What regulatory frameworks impose these requirements on non-bank financial institutions?
  • What are the potential consequences of failure to establish a risk management program?
  • Who within the institution needs to be included in a risk management program?
  • What are the steps involved in developing a risk management matrix?
  • How often does an institution need to address risk management?
Why Should you Attend
Non-bank financial institutions can become victims of exploitation for crime, corruption, fraud, money laundering and related financial irregularities. The failure to protect an institution from these potential vulnerabilities can lead to loss of reputation, lawsuits and judgments, loss of investment value, and serious fines, penalties and possible imprisonment for institution officers and directors. Effective identification of potential risks and management of efforts to mitigate those risks are key to prevention of falling victim to these events.

Areas Covered
  • What types of risk should be considered
  • Why is a risk management program necessary
  • How are risks identified
  • How are risks categorized within the matrix
  • What kind of training is necessary
  • What products or services are covered by a risk management program
  • What consequences may occur if a risk management program is not instituted
Who will Benefit
  • Compliance officers
  • Directors
  • Risk managers
  • Security dealers
  • Real estate brokers
  • Attorneys
$300
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Instructor Profile:
Kenneth Barden is a Senior Anticorruption and Good Governance Advisor with the Governance and Rule of Law Team at USAID. For many years, Ken was an independent consultant for several international development projects, including ones funded by USAID, the MCC, World Bank, UN, Asian Development Bank and others. Ken served as Team Leader for the USAID-administered MCC Threshold Indonesia Control of Corruption Project in Indonesia, working on anticorruption and judicial reform. Immediately prior to joining USAID, Ken was with the USAID Modernizing Financial Institutions project in the West Bank, where he led implementation of anti-money laundering and anticorruption activities. Ken's experience includes work in Eastern Europe, Central and Southeastern Asia, Oceania, the Middle East and Africa. He also has over 15 years of experience in municipal government. Ken holds a Juris Doctor from Indiana University, and a Bachelor's degree in Political Science from University of Indianapolis, as well as post-graduate work in Disaster Management from the University of Wisconsin and in International Humanitarian Law from the National Academy of Legal Studies and Research (NALSAR), in Hyderabad, India.
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