Client Needs & Objectives
As part of the 2017 AML Risk Assessment exercise, our client wanted to:
- Review the methodology and related procedures in order to simplify them and better include generic risk families into the overall design of the questionnaires
- Prepare and ease deployment by assisting the team in the production of the 2017 Risk Assessment including pilot phase, training sessions on processes and tools
- Define a challenge plan and review entities answers by Business Line
- Define, test and select a scoring methodology for each questionnaire
Our approach
Methodology and questionnaires review
- Review the Inherent Risk factors being assessed related to: products and services offered by entities, Distribution channels, Client base characteristics, transactions performed…
- Review the criteria to assess the Control Environment set-up in entities for risk mitigation, such as organization, monitoring & KPIs,
- Review criteria and weightings used to score and any possibility of scoring overrides
Campaign execution
- Update procedures and prepare guidelines and training materials
- Follow up the progress of the Risk Assessment campaign
- Identify gaps and deficiencies and propose remedial actions
