What We Do

We offer consulting services to help our clients meet regulatory expectations and build a strong compliance program. We conduct effectiveness reviews to test the implemented AML controls. We also offer advisory services to our clients, helping them find the right technology solutions and vendors to automate their AML procedures and controls.

Advisory and Consulting

Effective AML and financial crime prevention policies and procedures are paramount to the sustenance and growth of any regulated entity. This requires staying up to date and having a deeper understanding of the regulations. In addition, it is essential to have experience in the implementation of policies and procedures that conform to regulatory expectations. Often times, Founders and CEOs find it hard to keep themselves abreast with the latest changes in the regulatory landscape and best practices within the industry as day-to-day operations and business growth take up most of their time. That is where we come into the picture, we offer tailored advisory and consulting services that help these regulated businesses remain compliant and contribute to fighting financial crime.

Engagements can vary based on multiple factors, such as the regulated entity’s size, the stage of its business, and its specific needs. For instance, these engagements can be:

  • One-time projects such as developing or updating AML compliance regime documents or clearing backlogs of ongoing monitoring activities
  • Periodic engagements such as conducting monthly ongoing monitoring activities, quarterly self-assessment of the implemented controls, or conducting periodic training for staff members
  • Ongoing engagements such as managing end-to-end compliance programs by performing the role of a Compliance Officer/Manager.

We Provide
Tailored Solutions that Cover

Policies & Procedures

Risk Assessments

Training

Ongoing Monitoring

Regulatory Reporting

Self-Assessments

Finding a Banking Partner

Prepare for FINTRAC Examination & Audits

Audit and Testing

Under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (“PCMLTFA”) and its Regulations, reporting entities have an obligation to conduct an effectiveness review of their AML compliance program. To help regulated entities comply with this requirement, we offer effectiveness review services to assess the state of compliance to PCMLTFA and associated Regulations and test the implemented controls.

Our Audit Approach Consists of Five Steps

Define current state

Gain an understanding of the operations, systems, and compliance framework.

Evaluation of Compliance Framework

Evaluate the compliance structure, documented risk assessment, policies, procedures, and training regimes.

Key controls testing

Establish the period of analysis and test controls and transactions.

Close out and draft reporting

Closeout and draft reporting – validate findings, propose recommendations, and prepare a draft report.

Final reporting

Conclude on findings, recommendations, and finalize the report.

RegTech Solutions

In today’s world of financial services where a high degree of consistency and accuracy is required and where large amounts of data is to be analyzed regularly, automation is not just a choice, but a need. We have partnered and work with some of the leading names in the regtech space that offer innovative and affordable solutions to unique challenges faced by the regulated entities in preventing financial crime and money laundering. These solutions include, but are not limited to, automating customer identification, risk assessment, ongoing monitoring, regulatory reporting, sanctions screening, and adverse media screening activities.

We start by assessing the process automation requirement, which once identified, is followed by an intense evaluation to identify the right vendor/technology partner. Through our experience and industry connect, we help in finding a solution that is cost effective and is the right fit for our clients.

The assessment process may also involve a review of clients existing technology solutions and modifying them to comply with current regulatory expectations and industry standards.

We also assist in finding e-learning solutions for your staff members.

Our Service Delivery Approach

Clear Understanding

Detailed discussions with clients to understand expectations.

Assessment of Current Situation

Reviewing existing policies, procedures, and controls. Map them with regulatory expectations and industry standards.

Project Planning and Management

Ensuring clear-cut deliverables, transparent timelines, and regular performance reviews.

Project Delivery and Knowledge Transfer

Efficient project delivery coupled with knowledge transfer for sustained compliance.