AML Officer Services: The XCM Meaningful Advantage that Sets Us Apart:
OVERSIGHT THAT EXCEEDS INDUSTRY STANDARDS
VIGILANT | ZERO TOLERANCE | CONSISTENT
Anti-money Laundering (AML) and Countering Financing of Terrorism (CFT) are severe challenges facing funds aiming to attract investors from various countries. Even a hint of financial crime is enough to dissolve fund reputations built over decades. Wholesale disinvestment and prospective investor disincentive are only two of many undesirable consequences that may follow. As a result, mainstream financial jurisdictions impose strict regulations to ensure one or a few bad apples don’t get the chance to spoil the entire barrel. Our AML Officer Services has a stellar reputation for providing all fund managers (and, therefore, other participants) with the peace of mind that the assets under their responsibility arrived with a clean bill of health in a compliant framework and will leave the same way.
AML Officer Services: The XCM Meaningful Advantages.
We know the AML and CFT obligations under every globally recognized financial jurisdiction like the backs of our hands. Thus, our AML Officer Services ensure that all fund transactions impacting investors and stakeholders:
- Are fully compliant.
- Stay compliant even when regulations grow more burdensome.
We meet and exceed all relevant jurisdictions’ AML Officer appointment standards by providing an independent AML/CFT oversight function fundamental to compliant fund structuring no matter where the fund resides.
We leave no stone unturned to ensure our clients’ peace of mind with an extensive checklist of AML officer protocols. For example, we only appoint AML officers with verified skills and experience, willing to stay updated under our ongoing AML/CFT adjustment program. From there, the AML Officer duties and responsibilities include:
- Filing suspicious activity and transaction reports at the first sign of non-compliance.
- Functioning as the first-line of regulator contact.
- Supporting AML/CFT framework governance.
- Maintaining constant oversight of every client’s AML/CFT framework. This involves:
- Performing internal audits extending to service providers.
- Submitting AML Officer board reports every three months.
- Regularly reviewing client’s AML/CFT policy.
- Assessing Business Risk (annually)
- Conducting PEP (Politically Exposed Person) analysis.
- Escalating situations tainted with high investor risk.
- Briefing fund managers on AML/CFT compliance requirements.
- Overseeing AML training for XCM employees
