In the context of AML audits, which role does the audit manager play?

The audit manager plays a critical role in overseeing the risk assessment process in AML audits. This involves evaluating the organization’s susceptibility to money laundering and terrorist financing, ensuring that appropriate measures are in place to identify and mitigate those risks. The audit manager typically collaborates with various teams to gather information, assess existing controls, and identify areas that require enhancement or further scrutiny. By overseeing this process, the audit manager ensures that the organization is compliant with regulatory standards and effectively managing its risk profile.

In contrast, directly conducting financial transactions is not within the purview of an audit manager's responsibilities, as their focus is on oversight rather than execution of financial activities. Implementing new compliance technologies, while important, falls under the domain of IT and compliance teams rather than the audit function directly. Preparing customer service reports is also outside the scope of the audit manager's role, which is centered around evaluating and ensuring compliance and risk management rather than customer service metrics.