134. Competent authorities should ensure that their supervisory staff are trained in the practical …

Competent authorities should ensure that their supervisory staff are trained in the practical application of the competent authorities’ AML/CFT RBS Model so that supervisors are able to carry out risk ‐ based AML/CFT supervision in an effective and consistent manner. Competent authorities should ensure that the outcomes of the sector-wide and individual ML/TF risk assessments are communicated to all relevant staff within the competent authority, including staff who are not directly involved in the risk-based AML/CFT supervision. Among other things, competent authorities should ensure that supervisors are able to:

• a) understand the need for flexibility when subjects of assessment’s views of risks and controls are different from competent authorit ies’ views on those risks and take into consideration the argumentation provided by subjects of assessment;
• b) assess the quality of the risk assessment carried out by subjects of assessment;
•  A1
• c) assess the adequacy, proportionality and effectiveness of subjects of assessment’s AML/CFT policies and procedures, including any software or other technological tools, and wider governance arrangements and internal controls in light of subjects of assessment’s own risk assessment and business models;
• d) understand different products, services and financial instruments, and the risks to which they are exposed, including those associated with the underlying technologies used in the provision of those products, services and instruments;
•  O
• e) understand competent authorit ies’ supervisory framework, including the AML/CFT supervisory strategy and plan; and
• f) understand various supervisory tools used and practices put in place by competent authorities, and how they are relevant to the tasks carried out by the staff member, such as the use of different supervisory tools in practice, and the importance of cooperation with other stakeholders;
•  A1
• g) understand the technology underpinning thebusiness models, operations and controls of subjects of assessment to be able to assess the risks and controls and to enable the appropriate deployment of (technology-enabled) supervisory tools.

1. Oversigt

1.1 Referencer

1.2 Identificerede krav

1.3 Relaterede standarder

2. Identificerede krav

3. Relaterede standarder

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