Independent Assurance Assessment of Retail Branch Banking's AML Regulatory Compliance Culture & Ethical Culture and their AML Risk Governance & Controls

AGENDA:

The BAIPHIL training on "The Branch Banking Business Objectives, Risks, Controls, and the Related Audit Strategy" had been designed to cover the Auditor's independent assessment of the Full Risk Profile of Retail Branch Banking auditable areas.

On the other hand, this training on "Independent Assurance Assessment Of Retail Branch Banking's AML Regulatory Compliance Culture & Ethical Culture and their AML Risk Governance & Controls" will focus on the Auditor's Independent Assessment of the AML/Regulatory Compliance Culture and Ethical Culture, the AML Risk Governance and Internal Control of the Retail Branch Banking - Sales and Servicing operations.

1. Understanding the AML Regulatory Risk. Identifying the Relevant Criteria for the Retail Branch Banking group's AML Regulatory Compliance Culture and Ethical Culture, and their AML Risk Governance and Internal Controls.
2. ILLUSTRATIVE Framework for the INTERNAL AUDITOR'S PRELIMINARY ASSESSMENT OF RISK ("PAR") for this AML Regulatory Assurance Engagement.
3. Discussion of Illustrative INDICATORS OF REGULATORY RISK & CONTROL ("RRC") AREAS in Retail Branch Banking. How to conduct the Internal Auditor's "PAR", as part of this AML Regulatory Assurance Engagement.
4. ILLUSTRATIVE Framework for IA's AML REGULATORY AUDIT RATING / IA's OVERALL ASSURANCE ASSESSMENT of the Retail Branch Banking's AML Regulatory Compliance Culture & Ethical Culture, and their AML Risk Governance and Internal Controls.
5. How to Conduct the Audit "Kick-Off" Briefing for the Internal Audit Client (s).
6. How to articulate the AUDIT STRATEGY / AUDITING APPROACH for this AML Regulatory Assurance Engagement, with consideration of the Possibility of AML-related Fraud or other significant Regulatory Offenses that may involve the Retail Branch Banking business. How to Articulate and Document the AUDIT PROCEDURES GUIDES or "APGs".
7. How to SPOT THE AML REGULATORY-RELATED AUDIT ISSUES concerning the Retail Branch Banking Sales and Servicing operations.
8. How to Supervise whether the assigned Auditor is achieving the Audit Assurance Objectives pertaining to the (A)Adequacy of Design of the Retail Branch banking's AML Regulatory Compliance Culture & Ethical Culture, the AML Risk Governance and Internal Control; and pertaining to the (B)Implementation Effectiveness of the said Design.
9. On the aspect of Supervising the Internal Audit Team who are assigned to conduct this Independent AML/Regulatory Assurance Engagement, there is a need to reiterate the IIA's Code of Ethics for Internal Audit Professionals, as well as the Bank's Code of Business Conduct. This is in view of the fact that AML-focused assurance work may stumble upon highly sensitive incidents that could pose a threat to the IA Professional's objectivity and even the life safety of the IA professional.
10. How to Integrate the AML Audit Results into the AUDIT REPORT – EXECUTIVE SUMMARY, and into the DETAILS OF REPORT such details as the Audit Issues, Recommendations, and Management Responses and Commitment. How to render the AUDITOR'S AML AUDIT RATING and the AUDITOR'S OVERALL ASSURANCE OPINION, for this AML Regulatory Assurance Engagement ofRetail Branch Banking.
11. How to Conduct the AUDIT EXIT CONFERENCE with BU Management and with Senior Management. Distribution of the INTERNAL AUDIT REPORT. Distribution of the DETAILS OF REPORT.
12. How to Convey the AML REGULATORY ASSURANCE REPORT to the Audit Committee of the Board.
13. AUDIT PROJECT CLOSURE for this Internal Audit Assurance Engagement. The IA Head's Approval to "Close" this Audit Project in the Audit Project Management System (APMS).
14. Commencing the Audit Issues monitoring & resolution process in the IA's ISSUES & RESOLUTION TRACKING SYSTEM ("IRTS").
15. AUDIT FOLLOW-THRU on the Significant Audit Issues and Recommendations as well as the AML-related Findings in the Report of Examination of the BSP and Report of Investigation by the AMLC regulatory examiners.
16. How Internal Auditors could Develop and Convey to Management (and Audit Committee) the "Audit Value Added" ("AVA") through this assurance engagement.

TRAINING OBJECTIVES:

This Course / Seminar has been designed to help "build capability" of the Participants or Learners, and possibly add to their confidence in strategizing for their assurance engagement, particularly to :

• Articulate the Auditor's Understanding of the AML Regulatory Risks in the Retail Branch Banking business.
• Articulate the Auditor's risk-based Audit Strategy for the assurance engagement covering AML Regulatory Compliance Culture & Ethical Culture, as well as the AML Risk Governance and Internal Controls of the Bank's Retail Branch Banking Sales and Servicing operations.
• Articulate the Audit Procedures Guides (APGs) that will help internal auditors in effectively carrying out their risk-based Audit Strategy statements.
• Discuss the Auditor's Evaluation of the (a)Adequacy of Design, and (b)Effectiveness of Implementation of the said Design of the AML Regulatory Compliance Culture & Ethical Culture, the AML Risk Governance and Internal Controls of the Retail Branch Banking operations.
• Discuss the integration of the various elements and results into the Audit Report for this particular Retail Branch Banking Audit Engagement.

RESOURCE SPEAKERS:

MR. NENER CONCEPCION, CIA, CCSA, MBA, First Vice President, Audit Segment Head, Internal Audit Group, RCBC Unibank.

MR. CHRISTIAN MOJICA, CPA, CAMS (Certified Anti Money Laundering Specialist). Division Head – H.O. Audits, Internal Audit Group, RCBC Unibank

MS. EDEL VEGAMORA, CIA, CPA, CRMA, Fellow-ICD; Former CAE of two Universal Banks.

COURSE DEVELOPERS:

This TRAINING / COURSE WAS CO-DEVELOPED BY or WITH INPUTS FROM THE FOLLOWING SMEs:

(1) Mr. Manny Chan, OIC/Head of Internal Audit, Security Bank.

(2) Ms. Carol Warner, Deputy CAE of BDO Unibank. Former CAE of Security Bank.

(3) Mr. Nener G. Concepcion, CIA, CCSA, CPA, MBA. First Vice President, Audit Segment Head, Internal Audit Group, RCBC Unibank. Former Chief Compliance Officer of a commercial bank.

(4) Ms. Edel Vegamora, Former CAE of Universal banks. Former CFO of a Commercial bank. Former CFO of a life insurance company / pre-need company / asset management company that were also exposed to AML issues. Directly involved in AML-related investigative work or cases of banks and insurance entities.

SCHEDULE:

June 22-23, 2023

Thursday - Friday

9:00 AM – 5:00 PM

TRAINING FEE PER PARTICIPANT:

From Member Institution – P 5,600.00

From Non-Member Institution – P 7,840.00

**VAT inclusive