Video on Role of Principal Officer in IFSCA regulated entity

As per the IFSCA guidelines, 2022, regulated entities must appoint a competent AML Principal Officer, considered as a management-level employee. The primary quality required in the AML Principal Officer is the ability to make unbiased AML-related decisions independently.

The video showcases the qualities and skills an AML Principal Officer must have, such as:

Timely identification of red flags
Knowledge regarding the dynamics regulatory landscape

Besides that, it also explains how the appointment should take place and what are the responsibilities of the AML Principal Officer.

Overall, the AML Principal Officer’s role is crucial in ensuring AML compliance. The officer is the one who ensures the quality, completeness, and relevance of the AML compliance program.

To know the complete details regarding the qualifications to responsibilities, check out the full video.

Chapters:

0:00 Introduction on Appointment and Role of Principal Officer in IFSCA-regulated entity
0:19 What are the qualifications needed in a candidate appointed as an AML principal officer?
1:01 Developing and implementing the AML program
1:40 Identifying and reporting the suspicious transactions
1:58 Building a robust AML Training Program
2:40 Thriving with AML Compliance with the proper AML Governance
3:40 What is the importance of AML principal officer?
3:53 Conclusion and regards

Related Infographics

AML Principal Officer: Appointment And Role In IFSCA Regulated Entity

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Video on Role of Principal Officer in IFSCA regulated entity