Assisting QFEs to meet their AML / CFT obligations

All QFEs have numerous actions they must take in order to meet their AML / CFT obligations. Often larger QFEs will have internal compliance teams responsible for this job. However, for many small- to medium-sized QFEs, the task is more difficult. This is especially so when the QFE includes nominated representatives and the advisers within the QFE are not actually employees but own or manage their own businesses. In these situations, the QFE may have its own AML / CFT programme plus the advisers within the QFE may also have to undertake their own risk assessment and have their own AML / CFT programme as they could be deemed to be ‘reporting entities’ in their own right.

Strategi can assist QFEs with AML / CFT in four ways:

  • Consult to the QFE regarding practical ways to develop the AM L/ CFT programme.
  • Provide the Strategi Institute AML / CFT manual to the advisers within the QFE who may need to be a reporting entity. This provides the adviser with a complete AML / CFT solution so they can meet their obligations.
  • Be the AML / CFT auditor for the advisers within the QFE who are a reporting entity.
  • Provide to the QFE the necessary initial and ongoing training packages for advisers and staff to learn about their AML/CFT obligations and meet their ongoing AML / CFT training requirements.

Consulting to QFEs

Strategi has spent considerable time developing AML / CFT expertise, systems and training so is experienced in assisting QFEs to develop practical AML / CFT solutions at the grass roots level. Contact us for more details on how we can help.

AML / CFT auditor

Strategi can be employed as the AML / CFT auditor for either the QFE or each reporting entity that is part of the QFE. Strategi is independent (provided it was not engaged in a consultancy role to develop the AML / CFT programme) and has experienced staff that are competent in AML / CFT audits. A standard pricing structure has been developed for small to medium-sized financial advice businesses but the audit for a QFE would need to be quoted once more details were available on the QFE. Contact us to obtain a QFE audit quote.

AML / CFT manual

Strategi Institute has developed a complete AML / CFT manual for small- to medium-sized financial adviser businesses. This manual, complete with guidance notes, checklists, templates and appendices, will train advisers and their staff on what their AML / CFT obligations are, how to conduct a risk assessment, how to develop an AML / CFT programme, what is required for an AML / CFT audit and what these documents look like.

Training packages

Strategi Institute has developed a number of training packages for networks, QFEs, advisers and staff on meeting AML / CFT obligations. Pricing will be based on the number of advisers/staff and the degree of customisation that is required to suit the QFE’s specific AML / CFT programme.