+44 20 3290 0724
DEVON CAPITAL ADVISORS Ltd.
35 WINGATE SQUARE
LONDON
SW4 0AF
+44 20 3290 0724
DEVON CAPITAL ADVISORS Ltd.
35 WINGATE SQUARE
LONDON
SW4 0AF
Testing and Benchmarking
Of AML/AFC, consumer credit and market making to best practice or peers
Our services include
Assessing in detail the status of the client's AML and AFC, Trading or other regulated activities/programs
Compare clients AML and AFC to Best Practice and peer institutions
Provide context on how various regulators may approach or respond
Our AML/ AFC assurance skills include:
Assessment
- Review implementation of comprehensive register of legal and regulatory obligations
- Ensure an adequate governance framework
- Assess AML/AFC compliance controls against regulatory expectations
- Evaluate high-level systems and controls relating to AML/AFC
- Assess “Three Lines of Defense” model
- Ensure staff are matched to legally required skillsets and obligations
- Establish a viable investigation capacity
- Ensure the Board and senior management receive appropriate and accurate information related to AML and AFC
- Review the risk assessment process
- Evaluate “Tone from the top”
- Deep dive to understand what went wrong and why
Remediation
- Overall implementation of comprehensive register of legal and regulatory obligations
- Review organisational structure to ensure appropriate committee structures, management oversight, reporting lines and resourcing for AML/ AFC regionally and globally
- KYC
- Surveillances
- Transaction Monitoring
- Transaction Filtering
- Name List Screening
- Controls testing
- Quality assurance testing
- Monitor implementation and changes to create a positive, ethical culture
- Enterprise Risk Management Framework (ERMF)
- Ongoing management of data issues