Outlier AML Compliance Kit FAQ
1)I am a member. How do I access the free AML Compliance Kit?
Please send an email to firstname.lastname@example.org. Valentina will verify you’re a member in good standing and will ask Outlier to give you access. You will then receive an email from Outlier with your credentials and you will be able to access the kit online.
2) How do I set up a new Compliance Program?
We’ve made setting up a compliance program as easy as 1-2-3:
1. Choose the documents that you need here and add them to your cart (for a new program, this will include all four items).
2. Go to “your account” to customize your documents online or download copies of your documents.
3. Keep your program up to date.
To customize your AML Program and Risk Assessment, use our set-up wizard to customize your documents. The set-up wizard walks you through a series of questions and generates custom versions for your business.
This takes time, but don’t worry. If you’re interrupted, any work that you’ve done using the document customization wizard is automatically saved.
Once you’ve customized the documents, make sure that you download and save the final versions. Read through these documents to be certain that they fully describe your business model, risk and processes. Keep these documents up to date – remember to review them at least once a year.
If you need to make changes to the documents that you’ve edited online, or if Outlier has released new versions, you will be able to go back to your account page and make changes.
You’ll also need to train your staff. We’ve created a training package that includes a customizable PowerPoint presentation, a training log, and sample quiz questions that you can use to test your knowledge.
Every two years, you will need to have a Compliance Effectiveness Review. We provide model documents to you free of charge. You can also find a guide to deciding who should conduct your review here.
If you’re new to compliance, you may also want to check out our blog article about the first steps for Compliance Officers.
If you would like help from a consultant (there is a fee, but CJA members receive a 10% discount) you can contact Outlier using our online form, or call Outlier toll-free at (844) 919-1623.
3) Do I have to train my staff?
All staff that deal with either customers or customer transactions must receive anti-money laundering (AML) and counter terrorist financing (CTF) training ANNUALLY. We’ve created a training program that includes:
· A fully customizable PowerPoint presentation with speaker’s notes
· A training log to track your progress
· Sample quiz questions to test your knowledge
You can add the training package to your cart once you get access to the kit. Go to “Your Account” anytime to download the training package.
To customize the package, simply add your company name and edit the slides for your business model. The Training log can be used to track your progress if you’re not using an automated system. Finally, the sample quiz questions can be used to test your staff’s knowledge. There are 21 sample questions. We recommend using at least 10 questions each year.
If you’re interested in having a custom training program developed for you (there is a fee, but CJA members receive a 10% discount) you can contact Outlier using our online form, or call Outlier toll-free at (844) 919-1623.
4) What is an AML Compliance Effectiveness Review?
An AML Compliance Effectiveness Review (also called an audit or 2-year review) is a review of your compliance program (your documentation that describes what you do) and your operations (evidence of what you’ve actually done). The review can be conducted internally (by someone at your company) or by a third party (someone outside of your company). If you’re not sure what would work best for you, take a look at our blog on AML Compliance Effectiveness Reviews.
If you’re ready to go, but need documents to get started, you can add our review package to your cart once you get access to the kit. Go to “Your Account” anytime to download the review package. The review package includes:
· A reviewer guide
· Working papers
· A review report template
If you want someone to conduct your AML Compliance Effectiveness Review for you (there is a fee, but CJA members receive a 10% discount) you can contact Outlier using our online form, or call Outlier at (844) 919-1623.
5) I Have No Idea, But Apparently I’m The Compliance Officer. What do I do?
Ok, take a deep breath. We know the feeling! We’ve written a blog especially for new Compliance Officers.
We’ve got everything that you need to create a new compliance program, if you need to. You can see what the program pieces look like here, and add the pieces that you need to your basket. Click on the basket icon anytime to checkout (there is no cost if you’re logged in as a CJA member, and no credit card information will be collected). Go to “Your Account” anytime to download the materials that you’ve selected (you will need to be signed in to do this).
If you need a hand from a consultant, we can help (there is a fee, but CJA members receive a 10% discount) you can contact Outlier using our online form, or call Outlier toll-free at (844) 919-1623.
6) I would like to talk with a human. What do I do?
If you’re feeling like your AML program needs work, and you’re not sure what to do next or you need extra hands to put together or look over your compliance program, you can contact Outlier using our online form, or call Outlier toll-free at (844) 919-1623.
Generally, our consulting engagements are fixed-fee so that you know exactly what you’re getting – and what you’re paying – before we start work. There is no fee for a consultation to determine what you need. Based on our conversation, we will send you a proposal that details the services and costs. As an added bonus, CJA members receive a 10% discount from our regular fees.
If you are looking into additional consulting services, we recommend reading our blog to help you Negotiate Your Consulting Contracts Like a Pro.
When you’re ready, you can contact Outlier using our online form, or call Outlier toll-free at (844) 919-1623.