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Fintech & Compliance · AML governance

The AML designated person and reporting to ONPCSB

Designating a person does not transfer all of the organisation’s liability to them or turn compliance into a signature. The role must be built around the entity’s obligations, with access to management, information, systems and a secure reporting mechanism.

designated person ONPCSB reporting
Initial requirementThe obligation is assessed by entity type and supervisory authority
MandateDirect access, authority, confidentiality and resources
ContinuityDeputy, handover and controlled portal access
01

The appointment must comply with the entity’s classification

The statutory obligation, level of designation, internal instrument and any notifications or registrations required by the supervisory authority must be checked. Not all companies and not all roles are subject to the same regime.

The mandate must provide for access to information, management and systems, confidentiality protection, resources and the absence of incompatible conflicts. Management retains its own supervisory responsibilities.

  • designation instrument and role description;
  • direct reporting line;
  • access to files and transactions;
  • escalation and decision-making procedure;
  • deputy and continuity plan.
02

An internal alert must be analysed, not merely forwarded

Teams must know which indicators to report, through which channel and what information to attach. The designated person documents the analysis, requests clarification and decides on the next step in accordance with the procedure and the law.

Access to sensitive files must be restricted. Communications to the client and other teams must be controlled so that the investigation and confidentiality obligations are not compromised.

03

External reporting follows the official format

The reports provided for by Law No. 129/2019 are submitted in the cases and within the deadlines prescribed by law, electronically through the ONPCSB portal, in accordance with the requirements in force. Accounts, certificates, contact details and access rights must be kept operational.

The procedure must distinguish report types, deadlines and situations that may require immediate measures. Registration numbers, confirmations and supporting documents must be retained under controlled conditions.

04

The role must remain operational during absences

Leave, termination of employment or technical unavailability must not block reporting. A deputy, access rules, documented handover and prompt revocation of previous access rights are required.

Performance indicators for the function may track outstanding alerts, analysis times, expired KYC files, training and control remediation, without turning the number of reports into a commercial target.

05

How we work together

  1. 01
    Documents and objective

    We clarify the circumstances, parties, deadline, available documents and desired outcome for organising the AML function.

  2. 02
    Legal review

    We cross-check the documents against the applicable registers and rules, identify the risks and establish what further information is needed.

  3. 03
    Drafting or report

    We prepare the agreement, opinion, procedure or audit report, with practical solutions and clearly traceable responsibilities.

  4. 04
    Review and implementation

    We incorporate comments, deliver the final version and explain the steps, deadlines and evidence to retain.

QUESTIONS

Frequently asked questions

Can anyone in the company be designated?

The applicable requirements, competence, position, access and conflicts must be assessed. A purely formal designation without resources or authority is vulnerable.

Does the director cease to be liable after the designation?

No. Designation allocates operational responsibilities, but management retains obligations to approve, supervise and provide resources.

Can reports be sent by email?

The official format and channel prescribed by the rules in force must be used: currently the ONPCSB reporting portal for reports governed by Order No. 191/2023.

Do you need to organise the AML function and reporting workflow?

Send the documents and relevant context for a legal assessment and a solution tailored to your objective.