FNSAML814 — Design customer due diligence policies and procedures

1 Design processes for customer identification

• 1.1Design processes to collect identification information and documentation from different categories of clients
• 1.2Design processes for determining ultimate beneficial owner of assets or funds where client is a trust or fund or wealth management company
• 1.3Design a separate process for verifying client information and documentation
• 1.4Establish procedures for retention and retrieval of information and documentation from clients
• 1.5Design an assurance or oversight process to ensure all collection, verification, retention and retrieval processes comply with relevant AML/CTF rules and regulations
• 1.6Design processes for risk rating clients based on evaluating their characteristics, including jurisdiction and nature of business or occupation, with a financial crime specific risk framework

2 Design processes for identifying and monitoring customer behaviour

• 2.1Devise a process for determining a customer’s source of wealth
• 2.2Specify a control for identifying source of funding for a transaction, where required
• 2.3Design a process for analysing products used by a customer and considering how that may impact their risk profile
• 2.4Establish a procedure investigating the entities and individuals with whom a client is involved and whether this impacts their risk profile
• 2.5Determine risk indicators that may apply to specific customers who represent an increased risk to organisation
• 2.6Determine specific monitoring, approval and review controls applicable to different client categories based on risk that they represent for organisation

3 Design governance processes and controls for customer due diligence processes

• 3.1Determine assurance governance procedures for client identification and money laundering and terror financing (ML/TF) risk processes
• 3.2Determine oversight framework for customer due diligence procedure
• 3.3Design a governance framework for customer due diligence policies and procedures
• 3.4Design a process for ensuring that client risk assessment is consistent with organisation’s risk appetite
• 3.5Specify processes for ensuring that customer due diligence policies and procedures are updated to reflect changes in regulation and organisational risk appetite
• 3.6Design and document escalation procedure, including escalation triggers and to whom issues will be escalated
• 3.7Design and document exemptions policy and procedure

What does an assessment tool for FNSAML814 need to cover?

To satisfy the Principles of Assessment and Rules of Evidence, an assessment for FNSAML814 needs to address all 31 unit components: 3 elements with 19 performance criteria, 2 performance evidence requirements, 4 knowledge evidence requirements, and the foundation skills. A coverage matrix mapping each question and task to these components is what an auditor looks for.

How does Auditori generate an assessment tool for FNSAML814?

Auditori pulls the current release of FNSAML814 from training.gov.au and generates a complete package: candidate assessment, assessor guide with model answers and observation criteria, and a coverage matrix mapping every component. A suitably qualified person then reviews and approves the draft in a built-in workflow — consistent with ASQA's guidance on AI use in VET — before export as branded PDF and editable Word.

Is the first assessment tool really free?

Yes. Every new account includes one free credit — enough to generate the complete assessment tool for FNSAML814 — with no card and no subscription required. After that it's pay-as-you-go per unit.

Can I check my existing FNSAML814 assessment instead of generating a new one?

Yes — upload your existing assessment or learner guide and Auditori maps it against every element, performance criterion, PE and KE of FNSAML814, showing exactly what's covered and what's missing. Mapping costs a quarter of a credit.