Business Risk Management Framework
We start from asking questions about the institution’ concerns, assessing compliance vulnerabilities and what and when can possibly go wrong, or if already exposed, help to manage the crisis, taking following vulnerabilities within Business Risk Management Framework into account:
- Global economic uncertainty and tightening regulatory regimes in most jurisdictions: Government risk, elections and existing political and economic implications on regional businesses
- Company financial performance and market exposure
- Liquidity and credit risk, likelihood of high gearing and default
- Existing ethics and Code of Conduct (marketing and fair dealing principles)
- Fiduciary Risk
- ML & Financial Crime practices
- Operational risk including legal, financial and compliance risks
- Reputational Risk: investigations, regulatory warnings and reprimanding if any, media scrutiny, customer complaints levels
- Disclosure and Transparency standards in corporate governance.
We Help Rectify and Prepare for New Opportunities
We scan and report on recent announcements reinforcing regulatory position on virtual assets, watching closely FATF progressing AML concerns and imposed global cryptocurrency licensing proposals to take effect by mid-2019. The regulations will affect “virtual asset service providers” infrastructure, affecting the definition of who is subject to the regulations. This and other valid concerns are discussed with our progressive and forward-thinking clients, thinking ahead and “outside of the box”.
We assist with your efforts to avoid falling short of constituting a complete, robust ERM process. We are here to answer your questions “Where do we start?”, “How to”? We provide management with practical advise for building a strong foundation for an effective tailored ERM program to achieve immediate, tangible results.
We are committed to advise effective ways to implement General Data Protection Regulation (GDPR), what controls to have to protect customers personal data, getting a consent to use personal data in an appropriate manner. The regulation calls for extensive record keeping, assuring privacy safeguards and security settings into existing systems, making data accessible upon request, and having the ability to completely erase a subject’s data upon request. As a process, compliance with the regulation will be data and document intensive.
We offer in house compliance training targeting a multitude of subjects adapted to relevant audience.