Assist in developing the compliance culture of your organisation
URN: FSPAML2
Business Sectors (Suites): Anti-money Laundering
Developed by: Skills for Justice
Approved on:
31 Jan 2016
Overview
This standard is about assisting in developing the compliance culture of your organisation. This will be done in conjunction with the senior management at your organisation, as appropriate. You must demonstrate these agreed values to your colleagues, across your organisation, and ensure that policies, programmes and systems support agreed compliance values.
Performance criteria
You must be able to:
1. carry out your role in line with your organisation's strategy for compliance
2. communicate agreed values and assumptions that encourage behaviour which is consistent with your organisation’s overall vision and strategy for compliance
3. put in place policies, programmes and systems to support agreed values
4. challenge behaviours and attitudes that conflict with agreed values
5. confirm that senior management recognise, understand and will promote the importance of making compliance part of the culture of your organisation
6. promote the benefits of a positive compliance culture
7. assist in developing a climate of openness about meeting or not meeting the requirements for compliance
8. encourage an ‘open-door’ policy for staff to seek clarification on compliance matters
Knowledge and Understanding
You need to know and understand:
1. the concept of the compliance culture and the importance of values in underpinning individual and organisational performance
2. your organisation's strategy for compliance and how this affects your work
3. how the culture impacts on your organisation’s vision and strategy
4. values, assumptions and behaviours that are consistent and inconsistent with your organisation’s vision and strategy
5. the needs and interests of key stakeholders
6. methods of communicating values, and supporting the way they are applied in your organisation
7. ways of dealing with messages and behaviour that conflict with agreed values and assumptions
8. benefits of a positive compliance culture
9. why it is important to encourage a climate of openness about compliance
Scope/range
Scope Performance
Scope Knowledge
Values
Behaviours
Skills
Glossary
Anti-money laundering and counter terrorist financing measures
This encompasses all required policies, procedures and systems as well as the requirement for regulated organisations to apply enhanced customer due diligence and enhanced ongoing monitoring on a risk-sensitive basis in certain defined situations and any other situations which an present a higher risk of Money Laundering or Terrorist Financing.
Links To Other NOS
External Links
Version Number
2
Indicative Review Date
31 Jan 2021
Validity
Current
Status
Original
Originating Organisation
Financial Skills Partnership
Original URN
New
Relevant Occupations
Finance, Financial Institution and Office Managers, Financial Institution Managers
SOC Code
2482
Keywords
Anti-money Laundering; Countering Terrorist Financing; compliance; culture; values