The impact of sanctions has changed over the past decade and impacts both the Accountable institution and its client in terms of not only sanctions but also with international payments, the risk appetites of correspondent banks.

The Institute is excited to be launching this Sanctions training session as part of its Anti-Financial Crime Strategy.

Join the two-day CISA training event hosted by an internationally experienced host, for an overview of international sanctions. Discover more about the impact of global sanctions in its many guises on the international financial system, the need for a control environment to manage and comply with global sanctions and the critical role of the AML risk officer as institutional mentors for oversight and monitoring.

WHO SHOULD ATTEND?

Global sanctions impact a vast number of individuals representing an array of business sectors involved predominantly in global trade. This is not exclusively the remit of those entities, as institutions which do not operate across territorial borders, are indeed required in terms of laws and regulation, to ensure that their employees and organisations are not unknowingly used to facilitating facilitate bypassing of sanctions.

The training program is aimed at employees of entities impacted by international sanctions and the delivery of services likely to be directly or indirectly targeted by individuals and entities looking for ways to move their products and finances in contravention of legislation. These include employees involved in the front and back office of institutions operating in various sectors of the economy e.g. financial services (banks, insurers, asset managers and finance) trade finance (importers, exporters, shipping), and those that form part of oversight functions e.g. compliance officers, financial crime officers, risk managers, internal auditors.

WHAT WILL THIS TRAINING SESSION COVER?

Day 1 –where does sanctions come from, what is law vs international pressure, sanctions risk and the preparation of the operating environment to safeguard itself, and particularly -

• Introduction to Sanctions – history, purpose and types

• The law in South Africa – what is the law and how does it impact AI's and clients

• International sanctions – understanding which sanctions regimes to apply and when

• Sanctions – what is the consequences of sanctions

• Technology and data – how it enables business processes

• List management – updating lists, accuracy of data and screening accuracy

Day 2 – sanctions risk management in the operating environment requires sufficient awareness within organisations of the operational and regulatory requirements to ensure sanctions risk is managed from both a client and transactional view with the understanding of the impact of such actions. To manage the risk the below steps are critical:

• Alert investigation – why it is important to get it right

• Customer name screening – screening and the impact of a positive outcome

• Payment screening –impact of new SWIFT standards on screening for sanctions

• Trade Finance screening – Documentary credit TBF vs open account TBF

• The consequences of non-compliance

• Common pitfalls

• Assessment of the control environment – what to include

Preparation for the course / Prerequisites

• You need to meet the attendee profile above in order to have sufficient context.

Delivery ticket options:

• Virtual via Microsoft Teams

Investment:

Virtual

Member: R2,800.00 excl. VAT | R3,220.00 incl. VAT

Non-member: R3,080.00 excl. VAT | R3,542.00 incl. VAT

Non-SA options for above excludes VAT

Included in the training

• Slide deck
• Detailed course layout
• Practical assessments and exercises during the training
• Other reference material provided during the event

CPD: 8 hours