Description
Overview
Sanctions compliance is a critical aspect of risk management for businesses operating in international markets. This training program provides participants with a comprehensive understanding of sanctions regulations, compliance frameworks, and best practices for mitigating risks. Attendees will learn how to design, implement, and maintain an effective sanctions compliance program tailored to their organization’s needs.
Objectives
By the end of this training, participants will be able to:
- Understand global sanctions regimes (e.g., OFAC, EU, UN, UK) and their implications.
- Identify sanctions risks and red flags in business operations.
- Develop and implement a robust sanctions compliance program.
- Conduct due diligence on customers, partners, and transactions.
- Apply screening tools and technologies for sanctions compliance.
- Respond to sanctions violations and regulatory inquiries effectively.
Training Content
Module 1: Introduction to Sanctions Compliance
- Definition and types of sanctions (economic, trade, sectoral, etc.)
- Key regulatory bodies (OFAC, EU, UN, OFSI, etc.)
- Consequences of non-compliance (fines, reputational damage, legal actions)
Module 2: Sanctions Risk Assessment
- Identifying exposure in different business areas (customers, suppliers, transactions)
- High-risk industries and jurisdictions
- Red flags and warning signs
Module 3: Building a Sanctions Compliance Program
- Core components: policies, procedures, internal controls
- Roles and responsibilities (Compliance Officer, Senior Management, Employees)
- Risk-based approach to compliance
Module 4: Screening & Due Diligence
- Customer and counterparty screening (SDN lists, PEPs, adverse media)
- Transaction monitoring and payment screening
- Technology solutions (AI, automation, sanctions screening software)
Module 5: Training, Auditing, and Reporting
- Employee training and awareness programs
- Internal audits and compliance testing
- Handling breaches and voluntary disclosures
Module 6: Case Studies & Practical Scenarios
- Real-world examples of sanctions violations
- Interactive exercises on risk assessment and decision-making
Outcomes
Participants will:
- Gain a solid foundation in sanctions laws and compliance requirements.
- Be equipped to assess and mitigate sanctions-related risks.
- Learn how to implement and maintain an effective compliance program.
- Develop skills to handle sanctions screening and due diligence.
- Understand enforcement trends and how to respond to violations.
Who Can Attend?
This training is ideal for:
- Compliance Officers & Managers
- Risk & Legal Professionals
- Banking & Financial Services Professionals
- Trade & Supply Chain Managers
- Corporate Executives & Board Members
- Auditors & Internal Control Specialists
- Regulatory & Government Affairs Personnel
The program is suitable for both beginners and experienced professionals looking to enhance their sanctions compliance knowledge.
TRAINING METHODOLOGY:
A highly interactive format, where all delegates will be encouraged to engage and participate, share and gain from each other’s knowledge and experience. The lectures will rely on a bullet-based slide presentation enriched by group discussions around case studies, videos and checklists wherever applicable.
Through a multiple-instructional setting, the goal is to achieve the learning objectives by means of virtual technologies that match personal learning styles and by the inclusion of non-linear learning that aims at the development of just-in-time skills of adult learners.
At the same time and in order to allow participants maximum flexibility of scheduling, the learning will be conducted in an allochronic manner. Using a state-of-the-art training architecture, RMA will combine self-learning with assessments and online discussions.
The pedagogics – adapted explicitly to professionals in full-time work – will help train participants through several experiences: absorb (read); do (activity); intermingle (socialize); mirror (relate to one’s own reality).
.DURATION: 3 days [ 6 Hours each day]
VENUE: Virtual or Onsite
DATE[TBC]: For registration/booking, please send a mail to: info@theriskacademy.org or call: 08021003297;07034248767;09071941111
