1. Risk question framework
Reviews the applicant’s financial crime prevention policies and processes. Designed by subject matter experts to Wolfsberg principles. Can include your own unique questions and other risk areas.
2. Applicant completes e-audit
E-audit provides an efficient and consistent risk assessment process. The applicant completes an online questionnaire and uploads supporting policies and procedures at a time that is convenient to them.
3. Assess applicant risk
Risk scoring system designed by subject matter experts. Applicant responses reviewed by a skilled assessor. Separate quality assurance process to ensure consistency.
4. Carry out onsite review
Only where e-audit results demand closer inspection - and information again stored in a consistent format in Compliancy.CAM. Thoroughness of e-audit reduces the onsite consultancy time as it just has to focus on testing the financial crime prevention controls, interviewing key people, testing AML software and random sample file checks.
5. Provide structured report
Applicant risk scoring including conclusions and recommendations for any improvements. Information remains stored in Compliancy.CAM allowing you to view applicant information, including e-audit answers, uploaded documents and the onsite review.
WHY CHOOSE COMPLIANCY.CAM
We deliver Compliancy.CAM as a managed service, working collaboratively with you to ensure that this is aligned with your own processes, controls and expectations.