Regulations evolve—so must your approach to meeting them risk_management_person_company_advisory_complex_green.png

The rapid evolution of regulatory requirements, business standards and best practices presents unique challenges for companies across industries who must grow and protect their organisations. With money laundering risks and regulatory focus on the increase, organisations must evaluate existing compliance programmes and proactively address any potential vulnerabilities. While many organisations attempt to alleviate issues by directing more employees to the problem, the answer is often identified by working smarter and optimising current processes. 

RSM’s Regulatory and Compliance practice includes experts who understand both the changing regulatory climate and the challenges and goals at all levels of your business. More specifically, we have a mix of professionals who live and breathe AML on a regular basis. Our experience makes us uniquely qualified to holistically assess your compliance needs and helps you put in place the people, processes and protections you need to move forward with confidence.  

In addition, our team may work with you to: 

  • Carry out a Gap Assessment in which we will evaluate the current state of your Compliance Programme, benchmarking against regulatory expectations and industry standard practices, with the aim addressing any identified deficiencies by enhancing or introducing adequate controls; 
  • Audit all aspects of your Compliance Management System (CMS) and suggest improvements for governance, monitoring, training and testing; 
  • Carry out independent validation of your AML models and systems, including sanctions screening, suspicious activity monitoring and customer risk scoring;    
  • Gain an understanding of the overall operations, including any changes thereto, understand the risk appetite of the entity, and classify risk scenarios in order to assist in carrying out a Business Risk Assessment (BRA); 
  • Conduct independent testing of all main functional areas and AML software and systems; 
  • Draft anew or revise/amend written AML policies or procedures, Know Your Customer (KYC) processes, sanctions screening and risk assessments. 

 

If you would like to know more about our AML & CFT services, please do not hesitate to get in touch with us at your convenience. You can do so through our online form, or via the contact information for our internal audit specialists on the right-hand side of this page.