Zoe Dixon-Smith
Compliance Consultant. Baker Regulatory, Jersey
Zoe Dixon-Smith is a Compliance Consultant at Baker Regulatory Services.
AML 360° Assessment
Our AML 360° Assessment gives you timely feedback on your anti-money laundering, countering the financing of terrorism and countering proliferation financing (AML) culture and the effectiveness of your current practices. It also provides recommendations on how to protect your Board, colleagues and business from AML related risks.
Problem
Undertaking a robust and effective AML assessment of a regulated financial business takes significant time and resource. As a result, many businesses do not regularly complete this exercise, leaving them vulnerable to regulatory breaches and sanctions. The impact of this is significant for businesses as well as their Directors, senior management and key stakeholders who can be held personally responsible for AML failures within the business.
Solved
Our AML 360° Assessment provides a holistic view of your business’ AML culture and its effectiveness. It was developed by modelling best practice multi-jurisdictional laws, regulatory rules and disciplinary actions.
Once complete, comprehensive reports containing our assessment findings and recommendations are presented to your Board. The report is designed to outline your business’ current strengths and areas which require attention.
Our expert Regulatory Team can then support you in developing and implementing the report’s recommendations to ensure your business is working towards an optimal AML environment.
What is covered in the AML 360° Assessment
- Board Oversight
- AML Management
- Operational Implementation (KYC, PEPs, transaction monitoring, etc.)
- Resourcing (personnel, technology, data)
- Training
- Monitoring and Reporting
Your support, experience and guidance in helping us through being referred to enforcement was invaluable and contributed to a positive outcome, the Board have asked me to convey their appreciation.