Compliance Risk In…

Compliance Officers are challenged to give advice, to review new products and transactions and to monitor business practices in a highly technical environment. They are also expected to have the interpersonal skills to deal with highly incentivised business people and Senior Management.

This product-based course is designed to give Compliance Officers the tools to understand the products and markets and to work with the business to produce solutions. Where solutions are not immediately achievable, your trainer will give advice on diplomatic, yet assertive disagreement, based on decades of dealing with Traders, Salespeople, Analysts, Corporate Bankers and Senior Management in often highly charged environments.

Introduction - What Sanctions are:

• International sanctions
• Commercial and trade sanctions
• Tariff and non-tariff trade barriers; export controls; dual-use goods
• Asset freezes
• Directions to cease business
• Anti-terrorism and non-proliferation

The Key Sanctions Implementing Bodies

• UN Sanctions

• The UN’s role in and approach to sanctions
• Member states and the application of UN sanctions
• UN Sanctioned countries

• US Sanctions

• Office of Foreign Assets Control (OFAC)
• Scope and applicability of US Sanctions
• Specially Designated Nationals
• Sectoral sanctions
• Countries under US sanctions and in what way
• Other: Magnitsky, Blood diamonds, non-proliferation, transnational criminal organisations.
• OFAC licences

• UAE Sanctions

• UAE approach to UN and US sanctions
• UAE specific sanctions

• EU Sanctions

• Scope and applicability
• Sanctioned entities
• Implicit sanctions
• Local enforcement
• Iranian JCPOA divergence

Penalties & Enforcement

• UN approach to enforcement
• OFAC global reach
• OFAC penalties
• UAE enforcement and penalties

Managing Sanctions Risk

• Sanctions Risk

• The importance of a risk-based approach to sanctions
• Best practice
• Clients and associated parties
• Organisational red flags
• Third-party red flags
• Exploratory review
• Screening and media searches

• Ongoing Monitoring

• Periodic reviews
• Trigger reviews: Types, analysis, who does what
• Internal reporting: when and to whom.
  
  

Assessment