Financial crime risk assessment is the cornerstone of financial crime prevention as it is the underlying tool for identifying, quantifying, documenting, monitoring and managing financial crime risks both horizontally across the entire business, as well as vertically down to any one individual customer relationship.

The inherent risks of operating in certain geographical areas or with particular customer types need to be understood. For global financial institutions with diverse portfolios this can be challenging. We can help organisations:

  • Build processes to gather key data elements, such as percentage of customer making cross border US payments.

  • Where effective or where the key data is not readily available, we use our technical expertise to extract and manipulate data into a format that can be used in inherent risk calculations.

  • Use specialised risk assessment software or in-house applications to process the key data elements, calibrate the inherent risk matrices and report on the findings.