After working at KPMG Consulting as a senior manager of the Risk & Compliance business unit, Alberto Armani joined UBI Group in 2012. Since 2014, he has been head of the UBI Banca Group's Anti-Money Laundering Service. He is the September feature of the "La parola A" column.

Responsible for Anti-Money Laundering is a fairly delicate role. What challenges do you face in carrying out this role?
Anti-money laundering is a highly sensitive area, both in terms of its content and the reputational implications it entails. The role is highly challenging, and ongoing exogenous (legislation, market) and endogenous (Group growth) developments require close attention to regulatory updates and the study of the anti-money laundering impact of new products and services demanded by the market. Adding to this the new frontier of cryptocurrencies makes the landscape even more challenging and interesting.

How has the Anti-Money Laundering function changed with the entry into force of the Fourth European Directive? How is UBI Banca adapting to the changes introduced by European legislators?
Legislative Decree 90/2017, which implements the Fourth Directive, introduces important innovations that further define and regulate certain aspects that are crucial to risk management. These include the expansion of the scope of obligated entities and the issues of due diligence with the guidance on beneficial owners and PEPs. In light of this, we also await the implementing measures from the Supervisory Authority, which will certainly allow us to implement the new regulatory requirements. On this front, our Group has already initiated the compliance process, both by implementing solutions in force since July 4th and by developing a project program aimed at implementing interventions.
with a different expiry date.

Training appears to play a key role in updating skills and the related compliance with new regulatory requirements. For example, you have decided to invest in training By choosing the Master's in Anti-Money Laundering at the European School of Banking Management. How and why did you choose our business school?
I strongly believe in training, especially value-added training. That's why I personally prefer to take one less well-structured, comprehensive, and challenging course, rather than participate in training programs that add nothing to my existing knowledge. I was looking for a comprehensive master's degree that would also allow me to engage with external institutions. I researched extensively, including by consulting with colleagues from other institutions. Therefore, the choice of the European School of Banking Management was made deliberately and precisely because it met my expectations.