IMPLEMENTING AN AML/FCC ENTERPRISE-WIDE RISK ASSESSMENT (EWRA) PROCESS
The best way to build an effective risk-based Financial Crime Compliance program is to have a thorough understanding of the risks presented by products, services and delivery channels, customers types, and geographic locations. A transparent and easy-to-understand EWRA process will enable the institution to identify gaps in its program, for example, with a different lines-of-business or legal entity comparative analyses. A review of regulatory guidelines on effective EWRAs will also be addressed. By taking early and decisive action to mitigate these risks, costly penalties and reputational damage can be avoided.
- Reviewing regulatory guidance on EWRA requirements – within APAC and globally
- Evaluating the use of the EWRA for an effective assessment of the risk of money laundering and terrorism financing to a Financial Institution (FI)
- Discussing how an effective EWRA assessment can provide invaluable insight on a FI’s suspicious activity assessments and reporting
- Demonstrating the need for efficiency and effectiveness through the brief introduction to ACAMS Risk Assessment Methodology & Tool
Ms. Dang has over 25 years’ experience in banking and finance. She was a Bank Examiner at the Federal Reserve Bank of Boston, Manager with
Barclays Capital’s Investment Banking Division in Singapore, Director of Business Development at Citibank’s Global Consumer Banking Group in
Singapore. In her positions as Director of Business Development, Asia/Pacific, for Thomson Financial, and General Manager of Thomson Financial
Publishing, based in Hong Kong, she also developed the first-ever financial-markets news portal for the APAC region, “Thomson Capital Markets
Asia“ (TCMAsia.com), launched in 2001.