Surveys point out that much of the current AML learning lacks effectiveness. No wonder: it focuses too much on information transfer and fails to appreciate that knowledge of AML does not necessarily lead to the ability to recognise suspicious situations and a willingness to deal with them. For this to happen your 'First Line of Defense' must demonstrate sufficient AML awareness.
Awareness transcends knowledge in the sense that it implies an ability and willingness to apply the learning. AML Awareness manifests itself with your staff through their behaviour.
i-KYC has developed an innovative AML awareness assessment tool called "Talent Act" that accurately measures the level of AML awareness of your staff and provides you with a heat map to help you identify your AML exposure and prioritise your risk remediation training programme. Talent Act combines tried and tested behavioural educational principles with innovative 'serious gaming' and internet technology to make it highly effective and efficient.
Developing a heatmap using the Talent Act assessment tool is the first step of three in i-KYC's risk based AML Learning Strategy. Step two is to address the priority risk areas identified through Talent Act with targeted remedial training. As Talent Act provides an accurate picture of the development needs, this remedial programme can be very focused and unnecessary topics are avoided. Aside from achieving greater efficiency, such targeted training enhances participants' commitment to the programme.
The final step is to renew the heat map using Talent Act at regular intervals. This will allow you to determine firstly whether your remediation training programme was successful (and whether your training solution providers are effective) and secondly which AML risk now most deserves your remediation attention.
It is easy to see that i-KYC's risk based AML learning strategy contributes to a learning organisation. Moreover, Talent Act's extensive management reporting provides excellent evidence to all of your stakeholders, including your Banking Supervisor, that you are serious about addressing this important issue.