Assessment of AML: The risk assessment of understanding how vulnerable a company can be to money laundering and terrorist financing. The tools used to screen for sanctions are tuned to specific risks within the company. From the results of the assessment, we can conclude what sort of software to develop or use to address the risks. Sanctions and Fraud Compliance Programs: A sanction violation can be a liability offense in the U.S. to make sure those rules are never breached, there must be a program set for your company to stay compliant.

Policies and procedures: To be regulatory compliant, every financial institution is required to have satisfactory compliance policies and procedures. Our team of Subject Matter Experts can help develop new or optimize existing policies and procedures to better position the firm to a better future state.

Know Your Customer (KYC) – this is a mandatory requirement by the financial institutions to know the exact identity of your client and reviewing their accounts to check for any financial terrorism or laundering.

OFAC, the Office of Foreign Assets Control, this screening holds value on individuals who are on watch lists or denied party lists. The sanction applies to the whole country, government, or jurisdictions and are employed by OFAC to research American international interests and foreign policies.

To ensure that all systems are always running accurately, we will test them for soundness and efficacy of the model design. This will allow us to detect any suspicious or unusual activity. The test includes a review of the following: conceptual soundness, data quality, implementation accuracy, outcome analysis, ongoing model governance, sanctions list management review, sanctions screening and alert review.

Our AML specialist will conduct a thorough historical transaction look back from data acquisition to regulatory filings to ensure that clients are maintaining an efficient and fully compliant monitoring historical review. This process includes data acquisition and analysis, scenario development, generation of alerts and development of procedures, multilevel review, suspicious activity report review and drafting.

Our team of financial experts are well experienced to conduct internal audit for various areas within the bank including IT Technology, Loan Servicing, System Entitlements and more. Internal Auditors provide control effective testing, creation of internal control testing, execution of test scripts and document findings.