Risk assurance is the process of conducting an analysis on the effectiveness of policies, procedures and controls your institution has adopted in regard to Anti Money Laundering (AML), Countering Financing of Terrorism (CFT) and Countering Proliferation Financing (CPF). Finovate Research Consulting consultants can conduct a risk assurance analysis to determine the effectiveness of the adopted systems by evaluating the following;
● Reviewing whether the institution’s AML/CFT/CPF policies, procedures and controls are aligned to the country’s legal and regulatory framework. This will evaluate the compliance level of the institution’s AML/CFT/CPF framework to regulatory requirements.
● A review of how your institution is implementing policies, procedures and controls and their effectiveness in meeting AML/CFT/CPF objectives. This will evaluate the actual utilisation of the policies and procedures adopted by the institution in combating Money Laundering (ML), Terrorism financing (TF) and Proliferation Financing (PF).
Finovate Research Consulting will develop a report with findings and recommendations following the independent review which will highlight areas of good performance and deficiencies. The report will also recommend on how the deficiencies can be remedied.