AML Risk Assessment methodology and campaign execution (Group level)

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

Client Benefits & Main Results

  • Improved, simplified and updated risk assessment methodology

  • Better inclusion of specificities by entities, Business Lines or operational perimeters

  • Trained teams and updated procedures, tools and training materials

  • On time and completed Risk Assessment exercise

  • Updated scoring methodology ensuring stability with previous exercises

  • Production of relevant analysis and scorecards

  • Communication of results to heads of entities

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