Objectives
The Luxembourg Association of Compliance Officers ("ALCO") aims at bringing together Compliance Officers in order to:
Constitute
Constitute a national representative body;
Work Out
Work out a harmonised approach with regard to laws and regulations;
Engage
Engage in dialogue with relevant authorities.
About ALCO
The "Association of Luxemburg Compliance Officers" for the Financial Sector was created as of 20 December 2000.
Fight against laundering of money of criminal origin and against:
Terrorism financing; integrity of financial markets, respect for ethical principles, all these are now important part of the financial sector today and that influences its activities widely.
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The Compliance Officer function has appeared among credit institutions, PSFs, insurance companies. The Compliance Officer role is to make sure that these institutions comply with the current legislative, statutory and ethical standards.
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Today, the Compliance function in the financial sector is officially recognised, on an international level by the Committee of Basel, and locally in Luxembourg by the CSSF. This function becomes compulsory in all the institutions of the financial sector in Luxembourg.
Training
The concept is based on the principle of modular course units, tests and the validation of the professional knowledge on different levels:
Implementing the regulatory framework of the Compliance Officer in the Financial Sector
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This course covers four topics of Compliance from a practical angle. Each topic is debated in a 2 hour session.
Fundamentals of a Compliance Officer's Function
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This course conveys an understanding of the basics of Compliance and different application areas. The complete module covers 4 different themes, each covered in a 2 hour session.
In order to set up a solid and reliable framework aiming at professionalizing the function of Compliance Officer, the House of Training and ALCO have now jointly developed a complete training program.
Press
20 YEARS ALCO
In order to set up a solid and reliable framework aiming at professionalizing the function of Compliance Officer, the House of Training and ALCO have now jointly developed a complete training program.