Not just a nice to have...

How can you mitigates risks you don’t know that you have? How can you deploy resources effectively in your business without assessing your exposure to the risk of financial crime? The simple answer is that you can't.

The Financial Crime Risk Assessment is the first step a firm must take when drafting policies and procedures to protect itself and its customers from the risk of Financial Crime. This process is a collaborative one involving the business areas, the control functions and senior managers.

For details of what a robust Financial Crime Risk Assessment should contain, download our guide.

How do I start a Financial Crime Risk Assessment? What financial crime risk should be covered? What about reporting and remedial action? For the answers to these questions, download our guide

How can CCL help?

As consultants CCL can help to facilitate this process. We can start with a standard template of the types of risks the industry in which you are operating in is exposed to and then start the discussions internally about the relevance of the relevant risks to your Firm, the controls you have in place and other risks which may be specific to the business you undertake. Each risk assessment is a bespoke document and one that senior management sign off on and which is maintained up to date by your Risk Officer and MLRO.

Undertaking this type of risk assessment will guide you as to what policies and procedures are required, what risks your control functions should be concentrating on, and what gaps there are currently. Only once this process has been completed can you really finalise your control framework.

We have a dedicated team of experienced compliance consultants who can provide expert assurance and peace of mind. Get in touch to see how we can help your Firm.