Solution

Validation & Final Report

The Validation of Controls is carried out through an on-site or off-site visit by a Senior Consultant in charge of reviewing the existence and quality of the controls that your institution has in place. The review covers all aspects of the Compliance Department, its staff, policies and processes, and the controls established to mitigate the risk of AML/CFT and the risk of violations of Sanctions Programs. Also reviewed are the results of audits, regulatory observations, system validations and any other areas required to be evaluated to have a thorough understanding of the effectiveness of the Compliance function.
The validation results are uploaded to RiskRator® and used to calculate the residual risk score.

The Report of Risk Assessment documents the process for each of the tasks executed to reach the Assessment’s results, the Assessment’s methodology, and the calculations to reach the residual risk of each of the risk categories by risk event, and the final risk profile of the organization.

The Validation of Controls is carried out through an on-site or off-site visit by a Senior Consultant in charge of reviewing the existence and quality of the controls that your institution has in place. The review covers all aspects of the Compliance Department, its staff, policies and processes, and the controls established to mitigate the risk of AML/CFT and the risk of violations of Sanctions Programs. Also reviewed are the results of audits, regulatory observations, system validations and any other areas required to be evaluated to have a thorough understanding of the effectiveness of the Compliance function.
The validation results are uploaded to RiskRator® and used to calculate the residual risk score.

The Report of Risk Assessment documents the process for each of the tasks executed to reach the Assessment’s results, the Assessment’s methodology, and the calculations to reach the residual risk of each of the risk categories by risk event, and the final risk profile of the organization.