NZ AML/CFT Compliance Officer study plan

Map each core obligation under the AML/CFT Act 2009 (CDD, suspicious activity reporting, prescribed transaction reporting, record keeping, compliance programme) to the specific section that creates it

Distinguish the roles and powers of the supervisor (RBNZ, FMA, DIA) from those of the Police Financial Intelligence Unit

Explain the three phases of the AML/CFT regime and which obligations were introduced or extended in each

Identify which entities are reporting entities under the Act and which are not

Sequence the standard CDD steps in correct order and state the timing rule for when CDD must be completed

List the identity information required for individuals, and for each customer type (company, trust, partnership, sole trader)

Differentiate simplified CDD from enhanced CDD by the conditions that trigger each

Apply the beneficial ownership threshold and explain how it interacts with the CDD on the customer entity

State the circumstances that require ECDD and the additional measures ECDD demands

Verify beneficial ownership for a layered ownership structure by tracing through intermediate entities to natural persons

Select acceptable verification methods for each identity element and justify why one method is stronger than another

Identify red flags that indicate a nominee director or concealed controller

Explain the requirements for relying on another person to conduct CDD and for outsourcing CDD

State the rules for when CDD cannot be completed and what the reporting entity must do

Build a risk assessment that scores customers across the statutory risk factors (product, delivery channel, country, customer type)

Classify a set of sample customers into low, medium, and high risk tiers with written justification

Design risk-based controls that scale CDD intensity and monitoring frequency to each tier

Explain how an entity-level risk assessment differs from a customer-level risk assessment and how they connect

Set trigger events that require refreshing customer due diligence and specify a review cycle per risk tier

Distinguish rule-based monitoring from behaviour-based monitoring and give a use case for each

Draft threshold and structuring detection logic for a cash-intensive customer base

Describe how to investigate and document an alert from first trigger through disposition

Explain how transaction monitoring feeds back into the risk assessment

State the threshold for forming a suspicion and the timeframe for submitting a suspicious activity report

Differentiate a suspicious activity report from a prescribed transaction report and list the prescribed transaction types with their thresholds

Apply the prohibition on tipping off and identify the exceptions

Describe the PTR obligations for international wire transfers and the information that must accompany them

Outline what happens to a suspicious activity report after submission and the reporting entity's continuing obligations

List the components a compliance programme must contain under the Act and the standard they must meet

Designate accountability for AML/CFT at the governing body level and describe the compliance officer's reporting line

Specify record retention periods and the format records must be kept in

Plan an internal audit and staff training cycle with frequency and content

Explain the supervisor's inspection process and the consequences of non-compliance

Synthesize all domains by working through five integrated end-to-end case scenarios

Diagnose and close personal weak spots identified from earlier weeks' deliverables

Rehearse timed responses to exam-style questions across every domain

Verify recall of all key thresholds, timeframes, and section references