Conducting a Financial Crime Risk Assessment
Apply structured, risk-based approaches to assess and manage financial crime risk
Gain practical knowledge and skills of how to design, execute, and maintain an effective financial crime risk assessment. This course explores the regulatory expectations, frameworks, and best practices that underpin a sound risk assessment process, from preparation through execution and documentation. You will examine how organizations identify inherent risk, evaluate control effectiveness, and determine residual risk using structured, risk‑based approaches. By the end of the course, you will develop the perspective needed to apply risk assessment outcomes to strengthen oversight, inform decision‑making, and support ongoing program effectiveness.
Course Content
You’ll learn to
- Describe the categories, the 5-step approach, regulatory frameworks, and best practices for financial crime risk assessments
- Explain how to prepare for the risk assessment, including the roles and responsibilities, approaches, and relevant tools
- Describe the processes for identifying inherent risk, assessing control effectiveness, and calculating residual risk
- Describe the proper method for documenting, updating, and acting upon the risk assessment
Key course topics
- Categories of financial crime risk assessments
- Risk assessment models and approaches
- Risk identification, evaluation, and calculation
- Documenting and validating the financial crime risk assessment
Intended audience
This course is designed for professionals involved in the oversight, design, or execution of financial crime risk management programs, including:
- Mid- to senior-level risk, compliance, and AFC professionals responsible for managing financial crime risk
- Compliance, AML, and BSA officers who develop, implement, or monitor risk management frameworks
- Senior leaders and control function roles, including MLROs and compliance executives, seeking advanced insight into financial crime risk, governance, and mitigation
Course structure
- Online and self-paced
- Four hours of coursework
- Complete within 4 weeks
- 20-question final assessment
- Immediate results and certificate of achievement upon completion
Next Steps
The Conducting a Financial Crime Risk Assessment Certificate is one of four risk management certificates that form part of our ACAMS Certified AFC Risk Manager program. If you complete each of the certificates and pass the proctored exam, you will earn the ACAMS Certified AFC Risk Manager designation. Find out more about becoming certified here.
FAQs
While there are no prerequisites for taking this course, it is designed to support AFC professionals who are mid- to senior-level risk management professionals. It will benefit anyone in an organization who develops, implements, or monitors risk management frameworks.
You have four weeks from the date you purchase the certificate to access the study materials and complete this Conducting a Financial Crime Risk Assessment
certificate course. After four weeks, your access to the study materials will expire. The exact date your access will expire can be found on our LMS. Please contact us if you need to extend your access.
This course is currently available in English.
An ACAMS certificate course is a short, self-paced online course focused on a specific topic within anti-financial crime (AFC). These courses are designed to be completed in about four weeks and include a 20-question final assessment. Upon completion, learners receive a certificate of achievement, demonstrating their understanding of the subject matter.
In contrast, an ACAMS certification program – such as the ACAMS Certified AFC Risk Manager Certification – is a comprehensive, structured program that validates a professional’s knowledge and experience in a broader area of AFC. Certification programs typically require several months of study and preparation, culminating in a rigorous exam of approximately 90 multiple-choice questions. Upon passing, candidates earn a designation, which must be maintained through ongoing education and recertification every three years.
This course is compatible with most operating systems and browsers. The ACAMS Learning Management System (LMS) can be accessed at learn.acams.org. If your access to our LMS portal is blocked, please contact your organization’s IT department for assistance.
Pricing
- Access your self-paced online course
- 400 hours of training webinars live and on demand
- Practitioner toolkits and best practice guides
- Perspectives from 115,000+ global members
- Discounts on all ACAMS products