Can the CO role be reassigned?
Yes, the outgoing CO changes their role, the incoming CO completes CO training, the role is reassigned, and AUSTRAC is notified of the change.
Yes - the CO role can be reassigned when the original CO leaves, retires or steps down. The workflow:
- Current CO changes their own role to "Global Admin" (or another senior role retaining platform access without CO responsibilities). This is done via Account Settings → Users → edit own record.
- The new CO is promoted to Compliance Officer by the now-Global-Admin user. The new CO must have already completed the CO training modules before the role assignment can finalise.
- AUSTRAC is notified of the change of Compliance Officer separately - this is a regulatory obligation under the AML/CTF Act, not a platform notification. The 29 July 2026 initial deadline for notifying AUSTRAC of the CO is the relevant precedent for ongoing notifications.
If the current CO has already departed and the account is locked, easyAML support can assist with the reassignment. The platform requires a CO at all times - you can't operate without one - so support intervention is available for genuinely orphaned accounts.
A good practice is to have a 2IC (deputy CO) already in place before the primary CO leaves, so the 2IC can step up smoothly and the firm isn't scrambling to onboard a new CO from scratch. See "What happens when the CO goes on extended leave?" in Section 21.
For the customer-facing summary covering why a CO is required, who can be one, and the step-by-step reassignment workflow, see HubSpot KB: https://knowledge.easyaml.com/-how-do-i-appoint-my-compliance-officer