Compliance & Reputational Risk Management For Family Offices

Key compliance concepts & tools for UHNW families and their family offices.

What you'll learn

Understand the Foundations of Compliance for UHNW Families

Assess Reputational and Debanking Risks

Apply Risk Mitigation Strategies in Family Office Operations

Navigate PEP Classification and Its Implications

Integrate ESG and Sustainability into Compliance Frameworks

Design Governance Structures to Support Compliance

Requirements

Understanding of Family Offices and Banking.

Description

Welcome to our short course on Compliance & Reputational Risk Management for Family Offices (short course). Key compliance concepts & tools for UHNW families and their family offices.Compliance & Reputational Risk Management for Family Offices is a short course designed to equip Ultra-High Net Worth (UHNW) families and their family offices with the knowledge and tools necessary to navigate the complexities of global compliance and protect their reputation.This course contains the use of artificial intelligence. We used A.I. to ensure smooth reading of the extensive notes for each slide. Many slides will however require that you pause the video and read quietly. Our fully-scripted notes are also provided as a PDF, which can be read as a booklet of the entire course.We will outline several critical concepts and tools that are essential for UHNW families and their family offices:Anti-Money Laundering (AML): A set of procedures, laws, and regulations designed to stop the practice of generating income through illegal actions. For UHNW families, this means having robust internal controls to prevent their wealth from being used for illicit activities.Know Your Customer (KYC): The process of verifying the identity of clients to assess potential risks of illegal intentions for the business relationship. This is a crucial component of compliance for family offices, as banks and other financial institutions will perform extensive due diligence on them. The course includes a timeline of KYC evolution.Politically Exposed Persons (PEP): Individuals who are, or have been, entrusted with a prominent public function, as well as their family members and close associates. In this lecture, I will highlight that a UHNW family from an emerging market is more likely to be classified as a PEP, which can lead to increased scrutiny and compliance burdens. Finally, I will addresse the targeted risks and what being a PEP means for a family office.In this course I will highlight how, while UHNW families often focus on wealth preservation and growth, they must also manage significant reputational and compliance risks within their international footprint.This course consists of 3 lectures:What is Compliance?Why is it an issue for UHNW Families?Mitigating Debanking & Reputational Risks.Enjoy our course!And do not forget to take the MCQ at the end.

Overview

Section 1: Compliance & reputational Risk Management for Family Offices

Lecture 1 What is Compliance?

Lecture 2 Why is Compliance an issue for UHNW Families?

Lecture 3 Mitigating Debanking & Reputational Risk

Section 2: Resources: Article and carousel

Lecture 4 DoS and Debanking Report

Lecture 5 Debanking Carousel

Bankers,Wealth Managers,Trustees,Lawyers,Fund Managers,Family Offices,Family Advisors,UHNW