Our financial crime compliance and rigorous risk management strategies are the key to ensuring client protection in today's complex regulatory landscape.
Our financial crime compliance and rigorous risk management strategies are the key to ensuring client protection in today's complex regulatory landscape.
As regulations evolve and regulators refocus their priorities, understanding your business’s current state is vital to ensuring you meet your obligations, remain up-to-date with the changing regulatory landscape and horizon scanning for pending regulatory changes and what that would mean for their business.
Our Regulatory Health Check is a complimentary service offered to small and medium-sized companies seeking to sense check and validate their existing framework.
This service is built on our knowledge of the regulated sector and existing regulations, how to best meet these obligations and benchmarking your framework against up-to-date industry best practice and regulatory horizon scanning for future changes.
The health check is a high-level review that engages with key stakeholders to assess the current status and identify strengths, weaknesses, areas for improvement and recommendations for achieving these improvements.
Our Regulatory Health Check is the perfect way for senior executives and board members or new Money Laundering Reporting Officers (MLROs) to get an independent, high-level assessment of their framework.
A review of the client’s current financial crime structure
Policies, procedures and standards reviewed for key regulatory gap analysis
Reviewing Politically Exposed Persons (PEP) assessment criteria, data capture and register
Assessment of existing customer risk assessment model against regulatory and industry standards
Reviewing audit findings to assist with prioritising corrective action plans
Meeting with financial crime and wider staff to understand the company culture towards AML obligations
Review of the Enterprise-Wide Risk Assessment (EWRA) to assist with prioritising corrective actions
Assessment of existing Management Information (MI) reporting suite
Reviewing Customer Screening, CDD and risk assessment methodologies to ensure they are fit for purpose
Benchmarking of framework against industry peers
Reviewing training material and delivery framework to ensure it meets objectives
Targeted, bespoke controls testing to identify gaps
Health Check report outlining the review brief and subsequent findings
Remediation plan to address gaps or shortcomings in framework
Regulatory horizon scanning to map known priorities to Health Check findings
Contact us at [email protected] or fill out the form below and we’ll have one of our specialists reach out to you as soon as possible.
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