Aml Compliance Program Template: Fill & Download for Free

Let’s start with the sign-up…You need to have a Customer Identification Program at the backend whose’s template would be put out on the front to register the client.An ID verification system (like along the likes of IDology). A decent compliant program on the back end, the market is wide open here, from Banker’s Toolbox to Membercheck.net to IdentityMind, et. al.Screening services for OFAC, PEP checks. (I would highly recommend Membercheck for this).You would need a bank where this money is to be held and moved around. You might want to look at the white-label service that Dwolla offers. Here is where the funds your users attach to the wallet/account is stored (by a licensed bank at the back end). Dwolla also provides 50 US State coverage for domestic transactions, so you won’t need a money transmitter license. The umbrella coverage would be sponsored by the bank and under an FBO arrangement, where you don’t touch the money, the money is held by the bank, and transactions are handled by the bank, based on your instructions. The instructions are sent via API, and the bank executes/acts-upon these instructions.Typical funding sources attached by clients are ACH, and if you can provide DDA access to the bank, you can even have debit/credit card transactions associated with the accounts. The great thing about Dwolla is that, the ACH is free. Can’t beat that.You need to have a robust API so as to be able to move funds, hold payments, issue refunds, generate statements, etc.Your back end AML should be strong and robust enough to enforce the compliance manual from its paper form to an actual rule based system.Some form of fraud detection mechanism (most AMLs don’t cover this deeply enough, so you might want to look at a 3rd party solution here).An accounting system that is robust enough to match the ledger positions with the bank and to be able to generate a multitude of reports.An open-API engine on your software so that external / 3rd parties can build upon your solution.Your P2P wallet should also be robust enough to add value-added payments. Here is an example of how value-added payments look on the payment stacks:Your back-end should also be robust and modular enough to be able to connect to other payment networks for further settlement, reporting and API based flags that would be generated and sent from your system.The ability to have “Businesses” to be taken into account. Most P2P solution sort of overlook at the importance of C2B or B2C payments.

KYC Verification is a process of verifying the identity of customers in order to ensure they are who they are. Businesses are required to verify their customers before onboarding them due to KYC and AML regulations.Customer Identification Program (CIP)Customer Identification Program is the first step in KYC compliance. It consists of the requirements of regulatory authorities that apply to your business model or industry. CIP protocols are the same in most of the regions in the world.Customer Due Diligence (CDD)Customer due diligence is the process of processing the customer’s information for KYC screening. It is the second step in KYC compliance. In this step, the basic information of the customer is collected in real-time or in some cases manually.KYC Verification Process StepsKYC Verification involves three basic steps. In order to carry out robust client identification, the following steps have to be carried out.Data CollectionThe first step in KYC verification involves the collection of client’s data. The user is supposed to enter all the personal details at the time of account registration. These personal details include name, address, age, date of birth, etc.Identity DocumentAfter collecting information, the user is asked to upload a supporting piece of evidence like government-issued identity cards, driver license or relevant documents. This helps the system verify that the information provided by the user is not fake.User VerificationAfter the user uploads the identity document, the document template is identified and data is extracted from it using OCR technology. The document is examined against several checks to make sure that it is not tempered or photoshopped.Once the authenticity of the document is proved, the information is checked. If both user-entered information and the one present on the document matches, the user is verified.You can read about the KYC process in detail in the blog linked below.KYC Verification Process – 3 Steps to Know Your Customer Compliance

In addition to an MBA degree the things you can do to make your CV becomes strong:A. For Finance professionalsCFA: Granted by the CFA institute, the Chartered Financial Analyst (CFA) is one of the most popular generic certification. Requiring at least 1.5 years of commitment to clear a 3-stage examination, and costing a minimum of $2400, it is highly advised that one be serious about it before enrolling.FRM: Almost as popular as CFA, the FRM (Financial Risk Manager) certification from GARP (Global Association of Risk Professionals) costs around $1000 (provided you register early enough to be eligible for the lower fee and is spread over 2 tests that can be taken either together or at an interval of 6 months.While CFA is more generic in nature, covering financial statement analysis, corporate finance, economics, wealth management, and derivatives, the FRM is more focused on risk and derivatives.Anti-Money Laundering Certification | ACAMS: Continuing on the path of greater specialization, we have the CAMS (Certified Anti-Money Laundering Specialist) certification for professionals working in the domain of Anti-Money Laundering and FCC (Financial Crime Compliance). Only 1 examinations (with prerequisites to be eligible) that costs close to $1500.Association of Certified Fraud Examiners: Become a CFE (Certified Fraud Examiner). Fees: $350.NCFM Modules (NSE - National Stock Exchange of India Limited): The 40+ NCFM modules spread over foundation (beginner), intermediate, and advanced cover a wide range of financial topics from the basics of financial markets and the OTC derivatives market, to mutual funds, venture capital, algorithmic trading and other advanced concepts. Each certification costs around $100.Vskills Govt. Certification: Vskills is a special, low-cost certification program run by the Govt of India. Most (>90%) certifications are priced in the range of ₹ 3000–5000. Although it has certifications for a wide variety of industries (Design, IT, Legal, Marketing etc), the below are relevant for finance professionals:Accounting, Banking, and Finance: (40+ certifications for Equity analysis, FI analysis, AML/KYC, Portfolio management, M&A, Credit risk, Basel III, IFRS etc).IIBF: The Indian Institute of Banking and Finance offers a host of certificates (Quantitative Finance, Trade Finance, AML/KYC etc) at a very reasonable cost of ₹ 1500–5000. The websites a little confusing. Just select the course from the dropdown to see the schedule and exam centers.B. Project ManagementProject Management Professional (PMP): Awarded by the PMI (Project Management Institute), this is the default one for anyone aspiring to build a career as a project manager. Cost: $555Agile Certified Practitioner | PMI-ACP: Again from the PMI, this certification is increasingly gaining importance as the adoption of agile project management gains momentum versus the traditional waterfall approach. Cost: $495C. OperationsSix Sigma: The BSI group offers 4 different certifications - The Six-Sigma yellow best (customized price), green belt (₹ 28,000), black belt (₹ 107,000), and the lean practitioner (₹ 28,000). These certifications are a must for people in operations, process management, and quality control.APICS: APICS provides 4 different certifications aimed primarily at people in in Operations and Supply chain management.Certified in Production and Inventory Management (CPIM) (Fee: $410)APICS Certified Supply Chain Professional (CSCP) (Fee: $1300)APICS Certified in Logistics, Transportation and Distribution (CLTD) (Fee: $525)APICS Supply Chain Operations Reference Professional (SCOR-P) (Fee: $350)D. MarketingSMstudy: SMstudy offers globally recognized marketing certifications across Marketing Strategy, Marketing Research, Digital Marketing, and Corporate Sales. All of these categories have multiple certifications depending on the individual’s relevant work experience - freshers, professional (0–3 years), specialist (3–5), and expert (5+). Obviously for someone who is still doing their MBA, only the fresher certification applies. And the best part is that all of them are free (with the other 3 being paid - $300, $450, and $600 respectively).Google AdWords: Across fundamentals, search advertising, display advertising, mobile advertising, video advertising, and shopping advertising. The certifications are from Google, and like most of their products, are free of cost. However, you need to retake the exam every 12 months to maintain the certification.Hubspot Marketing and Sales Certifications: If you are not a Hubspot partner or user, you are eligible for 6 of their free certifications. The classes and prep material for these 6 courses is also free. Everything is online, including the actual examination. Alas, the certifications are only valid for a period of 13 months, post which you need to renew them.E. Human Resources (HR)SHRM: The CFA of HR professionals, SHRM is almost a must-have for an HR professional, especially if you want to advance to the highest echelons in the human resources hierarchy. (Fee:₹ 52,000)F. OthersCisco Certifications : Cisco offers a whole host of IT related certifications, with a focus on network management. Some of them have prerequisites, and some not. Also, they might be more relevant for IT professionals rather than MBAs, but if you are enthusiastic about it, you can still give it a go.THINGS TO MAKE YOUR CV POWERFULL:1. Keep it real!Usually a CV should be no more than two pages unless your are applying for an Executive position– and that's two pages of A4 paper! Employers spend, on average, just 8 seconds looking at any one CV, and a surefire way of landing yourself on the no pile is to send them your entire life story. Keep it punchy, to the point, and save those giggly little details for the interview. If you want examples then check out our free CV templates2. Tailor itWe've all done it. Whizzed the same CV out to lots of employers to save time... Stop! Take the time to change your CV for each role that you apply for. Research the company and use the job advert to work out EXACTLY what skills you should point out to them. They will appreciate the obvious effort.3. Include a personal statementDon’t just assume an employer will see how your experience relates to their job. Instead, use a short personal statement to explain why you are the best person for the job. This should be reflected in your cover letter as well see our tips to the perfect cover letter.