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

Zachary C. Miller and Lauren Kohr

Journal of Financial Compliance, 2017, vol. 1, issue 1, 81-88

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.

Keywords: accountability; oversight; training; risk; metrics (search for similar items in EconPapers)
JEL-codes: E5 G2 K2 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jfc000:y:2017:v:1:i:1:p:81-88

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