Types of Supervision
6 ECTS
Types of Supervision
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Module Description
This module raises awareness about the types of supervision required based on findings from national risk assessments and sector-specific risk assessments across different sectors.
Emphasizing the importance of sound risk assessment, the module highlights how supervisors and supervised entities must conduct thorough risk assessments as the initial step in developing effective anti-money laundering and countering the financing of terrorism (AML/CFT) control measures.
This approach ensures that the implemented measures are suitable for the nature and scale of the business operations. By studying this module, students will gain insights into regulatory practices and strategies for effective supervision tailored to mitigate specific risks identified in various sectors, thereby contributing to enhanced compliance and regulatory oversight.
Entry Requirements
Candidates who apply for this course must possess the following:
- a qualification at MQF Level 4 (one A-level or equivalent in any subject);
AND
- a pass in English Language and Mathematics at MQF Level 3 (O-level or equivalent).
Target Audience
- This programme is targeted at people within the financial and banking sector, as well as other individuals seeking professional and academic advancement in AML and compliance.
Career Paths
The possible positions for which this programme aims to prepare you for include, but are not limited, to:
- Compliance Supervisor/ Manager
- Money Laundering Reporting Officer (MLRO) and their Deputies
- Police and FIAU/FCID Staff
- Managers with Responsibilities for Internal AML Controls
- Risk Managers
- Accountants
- Lawyers
- Company Secretaries
How you’ll be assessed
The course comprises:
- Evening classes for part-time courses.
- Classes held throughout the day for full-time courses.
- Guided learning, presentations, comprising synchronous online discussions, tutorials and/or videos.
- Self-study hours comprising research, reading and assignment work.
Assessment
Assessment is carried out via two mandatory components:
- Assessment 1
- Assessment 2
The programme includes different forms of assessment which allow for and promote students’ critical engagement. The assessment tasks may include an in-class assignment and/or a home-based written assignment using diverse assessment tools which may take the form of online and in-class discussions, examinations, case studies, reports, proposals, essays, and presentations, etc., as applicable to the diverse modules.
Learning Outcomes
Competences:
At the end of the module/unit the learner will have acquired the responsibility and autonomy to:
- Align the risk-based supervision with the risk assessment.
- Discuss the importance of risk-based supervision.
- Attain a clear know-how of the risk identification and analysis.
- Examine the implications of types of risks.
- Appreciate the adoption of risk management, policies and procedures.
- Adopt risk monitoring and review.
Knowledge:
At the end of the module/unit the learner will have been exposed to the following:
- Explain what is risk-based supervision.
- Identify the different sectors in the economy and the different threats and vulnerabilities.
- Demonstrate understanding of how to carry out fitness and proper checks and have appropriate due diligence in place.
- Explain the importance of having compliance and sanctions in place.
- Discuss the typologies and red flags in order to be able to address specific risk-based supervision.
Skills:
At the end of the module/unit the learner will have acquired the following skills:
- Assess the importance of anti-money laundering and counter terrorist financing and the main elements of both offences, together with their distinguishing features.
- Examine the role of the financial intelligence unit and supervisory authorities.
- Appreciate how supervision is carried out and how the various supervisory authorities interact in carrying out AML/CFT regulation.
- Be able to relate to and extract information from the main international bodies dealing with AML/CFT.
- Risk-based supervision.
- Risk based approach.
- Requirements for risk-based supervision.
- Guiding Principles – BASEL.
- Risk-based approach in institutions.
- Types of supervision.
- Supervision, typologies and red flags.
Module-Specific Digital Skills and Competences:
The learner will be able to:
- Navigate through the online learning platform to benefit from assignments, discussion boards, literature, tutorials etc.