AML audit plays an important role in evaluating the internal control and risk management system of the obliged entity. The need for AML audits is rapidly growing not only for internal use (e.g. assistance in detecting flaws in AML procedures which can be unnoticed while performing daily routine tasks) but also for external use (e.g. AML audit reports are requested by correspondent banks or other business partners, supervisory authorities, etc.).
Continuous AML audits and relevant auditing programmes show the maturity and credibility of a financial market participant. It is of the utmost importance to understand the AML audit practice and general requirements applicable to such an audit before planning it.
The importance of complying with AML requirements is particularly relevant as recent cases and fines prove that regulators do not tolerate AML non-compliance. In this webinar, we have gathered professional AML and internal audit experts to share their experience and knowledge on the subject matters.
The following topics shall be addressed during the webinar:
- Introduction to AML audit from a legal perspective
Aurelija Balčiūnė, Managing Associate at COBALT Lithuania
- AML Audit: burden or opportunity?
Andrius Merkelis, Head of AML working group at FINTECH HUB LT / Head of AML/MLRO at mano.bankas
- Internal audit department establishement and first year challanges
Karolis Grikšas, Internal Auditor at Wallter
- Pros and cons of de-risking in industry wide and obliged entity perspective
Edgars Pastars, Specialist Counsel at COBALT Latvia
TIME: 6 April 2022, 2 pm
VENUE: online event http://cobaltstream.zoomtv.lt/
LANGUAGE: English
TICKETS: The webinar is free of charge
REGISTRATION:
IMPORTANT: You must register for the streaming link, as the webinar will only be available to registered participants.
You will be able to access the live broadcast by clicking on the following link: http://cobaltstream.zoomtv.lt/
SPEAKERS
Aurelija Balčiūnė is a Managing Associate at COBALT Lithuania. She has specialised in banking, finance (including AML & Compliance, Aviation and Aircraft Finance), M&A as well as Trademark Law for over 10 years. She has broadened her professional experience while working as an in-house lawyer at the group of aviation companies, trainee at the Civil Aviation Administration. During her legal practice, Aurelija Balčiūnė has counselled international banks and companies on AML & Compliance and other regulatory matters, M&A transactions (including those involving financial market participants), acquisition of debt portfolios, financing transactions and various security arrangements. Furthermore, Aurelija has an extensive experience in a full scale of aviation transactions.
Edgars Pastars is Specialist Counsel, Certified Anti-Money Laundering Specialist (CAMS) and Head of AML at COBALT Latvia and among the most highly respected public law experts and the co-author of several key books on constitutional law. Edgars has extensive constitutional litigation experience. He is regularly called upon by the Constitutional Court to provide expert opinion on relevant procedural matters. Moreover, he has acted for a range of clients in administrative proceedings, the Cabinet of Ministers and the Ministry of Transport among them. He has been among the drafters of numerous laws, regulations and legislative amendments (in the area of construction, banking, finances, real estate, employment, anti-money laundering and the responsibility of state officials), being the one to initiate new and non-customary solutions (e.g. regulation of companies important for national security, adjustment of the UK JMLIT regulation to Latvia). Edgars has worked extensively on matters closely related to banking and finances, by advising on legal, compliance (Moneyval evaluation), risk management, capital market (covered bonds, securitization, pension funds), consumer crediting and payments (including PSD2 implementation) and has represented Latvia’s financial sector at the European Banking Federation and Europol working groups.
Andrius Merkelis is a Head of AML working group at Fintech Hub LT association which comprises more than 50 Lithuanian fintech companies and an expert in AML and CTF area with 15 years of experience in banking and Fintech areas. He is CAMS and advanced CAMS-Audit certificate holder who over the years actively participated in numerous AML-related initiatives and inter-institutional working groups dealing with AML, CTF and Fraud prevention issues.
Karolis Grikšas is an Internal Auditor at Wallter. Karolis Griksas joined Wallter with more than 7 years of experience in Big 4 companies. As a CISA certified professional he was working with companies from banking, insurance, e-commerce, telecommunications, pharmacy, retail, logistics and manufacturing industries. At Wallter he is responsible for the management of internal audit department, communicating with board management, and engaging and/or coordinating non-fiancial audit projects or consultations. Internal audit departent is established and operating based on the guidance of globally acknowledged standards issued by the Institute of Internal Auditors.
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