Risk Management and the Business Risk Assessment – a Practical Guide

Course Summary

The AML/CFT Handbook requires that a Business Risk Assessment is conducted, documented, kept up to date and consideration given on an ongoing basis to the firm’s AML/CFT vulnerabilities.  Furthermore, all new GFSC licence applications must now be accompanied by the applicant’s Business Risk Assessment (BRA). The Board is responsible!

This half-day workshop is aimed at non-compliance professionals and will provide a practical introduction to key AML/CFT risks, the role of the BRA, how to prepare it and what it should contain.  This course is aimed at senior managers, directors and non-executive directors wanting a very practical insight into preparing or reviewing their firm’s AML/CFT Business Risk Assessment.


  • Overview of regulatory requirements
  • Consequences for non-compliance
  • Business strategy and setting risk appetite
  • Risk management – the steps
  • Objectives of the BRA
  • Understanding your biggest risks
  • Preparing a BRA what should it look like
  • Practical steps - the do’s and don’ts
  • Identifying risks
  • Assessing and prioritising risks
  • Managing risks
  • How to monitor those risks
  • Key questions to ask your MLRO


Course Benefits

At the end of this course you will:

  • Understand the expectations of the GFSC
  • Be familiar with key AML/CFT risk management concepts
  • Be able to critically review your firm’s BRA and determine what management information you need in order to monitor those risks on an ongoing basis.

Tutor Profile

Karen Haith is an independent non-executive director and risk consultant. Prior to this Karen was the Operations Director of a large Guernsey fund administration business. She is a qualified accountant (FCCA) and Chartered Company Secretary (ACIS).

Karen has over 25 years’ experience of accounting, administration, risk Management, compliance and governance within the financial services industry.

Karen has significant experience at board level (since 2003) of both regulated and unregulated GP and Advisor boards of closed ended and open ended funds. She has direct experience of PRISM visits both when in full time employment and more recently as a Consultant to a large global fund administration business.

Karen has a specific interest in governance and risk management and works with a variety of clients in the fund and fiduciary sectors.

Course at a Glance

  • Next Start Dates: New dates TBA
  • CPD Points: 3.5
  • Course Cost: £195.00
  • Course Length: Half day (09:30-12:30)

There are no dates currently available for this course, If you would like to register your interest please complete the form below:

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