We offer a full set of risk management solutions for financial institutions, financial service providers, and regulated businesses. We tailor our solutions to:
- Your business goals
- Products you offer
- The size of your business
- The available technology
- Your risk appetite
- Your governance structure
- Client demographics
- Your countries of operation, their applicable laws, regulations, licensing and compliance requirements.
We cover the following risk types:
- AML/CTF risks
- Fraud risks
- Sanctions-related risks
- Corporate governance risks
- Data privacy risks
- Risk management requirements under financial licensing regimes and license conditions
- Financial market conduct-related risks
- Resource management risks
- Operational risks, including but not limited to:
- Product promotion
- Customer onboarding
- Customer communication
- Transaction monitoring
- Internal communications
- Reporting
- Incident management
- Third-party risk management
- Recordkeeping
- Conflict of interest management
Our Risk Management Solutions cover:
- Risk Matrix Development: We create detailed matrices categorising risks by type and level, offering a clear visual tool for risk identification and prioritisation.
- Risk Register Design and Maintenance: We assist businesses in mapping their risks along with their mitigating measures, ensuring comprehensive risk documentation.
- Risk Appetite Development: We guide businesses in clearly defining the levels of risk they are willing to accept across various operational areas.
- Control Design and Mapping: We develop and map controls for effective risk mitigation and management, ensuring that risks are systematically addressed.
- Control Testing: We advise on and implement control testing procedures, offering solutions to verify the effectiveness of your risk protection measures.
- Risk Management Frameworks (RMFs): We design and oversee the implementation of a comprehensive risk management framework, tailored to your business needs.
- Enterprise Risk Management: We integrate risk management practices across all aspects of your business operations, ensuring a holistic approach to risk.
- Risk Communication: We assist with clear communication to the the board, executive team, and stakeholders covering the risk landscape and management progress.
- Operational Risk Management: We help you with development, implementation, enhancement and review of your internal controls across the business.
- Regulatory Compliance Management: We help you comply with applicable laws and regulations in a commercially feasible manner, enhancing operational integrity.
Service Coverage
We offer risk management solutions to:
- Investment bankers
- Investment firms
- Fund managers
- Brokers, including forex brokers
- Fintech companies
- Non-bank deposit takers
- Non-bank lenders
- Online casinos and gambling platforms
- E-money issuers
- Money remitters and money transmitters
- Payment gateway providers
- Currency exchange providers
- Derivatives issuers and platforms
- Neo-banks
- P2P lending platforms
- Crowdfunding services and platforms
- Financial advisers
- Investment advisers
- Financial planning specialists
- Wealth managers
- Custodial or depository service providers
- Licensed trustees
- Consumer credit providers
- Building societies
- Savings and loan associations
- Credit unions
- Corporate finance providers
- Finance Companies
- Designated non-financial businesses and professions (DNFBPs), including trust and company formation providers (TCSPs)
Our countries of focus for this service include, but are not limited to:
- Australia
- United Kingdom
- United States
- Singapore
- European Union
- New Zealand
- Prominent formation centres, including:
- Belize
- British Virgin Islands
- Cayman Islands
- Dubai
- Bermuda
- Panama
- Jersey
- Malta
- Mauritius
- Seychelles
- Vanuatu
Risk Assessment and Risk Analysis Service
We offer comprehensive risk assessment services to help organisations identify, quantify, and prioritise risks. Our focus areas include:
- Risk Identification: We can help you identify different risks across the business.
- Risk Assessment Methodologies: We develop tailored methodologies to evaluate both inherent risks (risks without controls) and residual risks (risks after controls are applied). This approach ensures that risks are accurately assessed and managed.
- Risk Evaluation and Categorisation: We help businesses categorise risks into distinct categories based on their potential impact and likelihood.
- Risk Rating and Prioritisation: We help businesses create a risk matrix, prioritising high-risk areas based on real-world conditions.
- Strategic Alignment of Risk and Objectives: Our risk assessments align with your organisation's strategic goals, identifying not just challenges but also opportunities for growth and innovation.
- Risk Mitigation: Based on the assessment, we develop tailored risk mitigation strategies to reduce the probability of risk occurrence and/or minimise potential impacts.
- Integration with Risk Management Frameworks (RMF): We assist businesses in aligning their risk assessment processes with their broader risk management frameworks, ensuring coherent and proactive risk management across their organisations.
- Governance and Culture: We foster a risk-aware culture by defining roles, responsibilities, and governance structures that integrate risk management across all levels of the organisation.
- Continuous Monitoring and Improvement: We focus on dynamic risk assessment, enabling businesses to adapt to emerging risks and maintain effective risk control and compliance.
- Reporting and Communication: Our process includes clear and transparent reporting, ensuring stakeholders have a complete understanding of risk status and activities for informed decision-making.
Risk Appetite
Working closely with your senior management to tailor a risk appetite framework that balances potential risks with growth opportunities, we can help apply a balanced approach to risk-taking and risk avoidance. We help you:
- Defining Risk Tolerance: Clearly define the levels of risk your organisation is willing to accept.
- Strategic Alignment: Align them with your strategic objectives and governance standards.
- Integration: Integrate your defined risk appetite into the risk and compliance management processes, corporate culture and decision-making processes, ensuring consistent adherence to the established risk thresholds across the business.
- Ongoing Monitoring and Adjustment: Facilitate ongoing monitoring of your company’s risk exposure against its risk appetite, helping your risk management strategies remain effective.
Risk Matrix
We develop comprehensive risk matrices to prioritise risks, customising your risk matrix to reflect your specific operational and compliance risk management needs. Our focus areas include but are not limited to:
- Visual Risk Representation: Providing a clear and actionable overview of existing and potential risks, enabling easier assessment, prioritisation, and management.
- Implementation: Integrating the risk matrix into business operations, project management workflows, and strategic planning processes to ensure a consistent and systematic approach to risk evaluation.
- Dynamic Updates: Establishing triggers and procedures to incorporate new data and insights, keeping the risk matrix current and effective.
- Risk Scoring and Prioritisation: Using scoring mechanisms (e.g., likelihood vs. impact) to categorise and prioritise risks, supporting targeted mitigation strategies and efficient resource allocation.
Risk Register
We help businesses establish and maintain a detailed risk register, documenting all:
- Identified risks
- Acceptance decisions
- Mitigations and controls for each risk
- Risk assessment methodologies and guidelines
- Risk assessment results
We can help you utilise appropriate risk management tools to turn your risk register into an effective and dynamic tool linked to:
- Risk re-assessment and internal controls testing calendars
- Task completion tracking systems for status of mitigation actions and task completion
- Internal reporting requirements
- Your record keeping obligations
- External reporting obligations
Risk Management Frameworks
We excel in developing comprehensive Risk Management Frameworks (RMFs) tailored to ensure that your risk management practices are robust and effective. Implementing a solid framework is crucial for systematically identifying, assessing, and mitigating risks, which is essential for maintaining operational integrity and enhancing information security.
Risk Management Framework for Small Businesses and Startups
Getting things right from the get-go is important, particularly when addressing risk management. We develop risk management programs for small businesses and startups, focusing on establishing foundational risk management practices that align with regulatory requirements, allowing adjustment for future growth without risk management becoming a business development blocker.
Risk Management Framework for Company Groups
Having spent years helping company groups with risk and compliance across different regulated products and jurisdictions, we develop tailored RMFs that align with your governance structures, streamline compliance processes, and address group-wide operational, financial, and regulatory risks. Our focus includes, but is not limited to:
- Consistency across entities and jurisdictions
- Alignment with enterprise-wide risk appetite
- Group-wide risk visibility and oversight
- Adaptability to multi-jurisdictional regulations
- Scalability to support business growth
- Timely escalation of significant risks
- Integration with governance structures
- Operational risk management
- A holistic approach to regulatory risks
- Addressing emerging risks, including ESG considerations
Risk Management Framework for High-risk Corporates
With years of experience helping high-risk corporations manage their risks effectively, we have the expertise to develop RMFs that go into the necessary depth to identify, assess, and mitigate key risk categories, including operational, regulatory, strategic, and reputational risks, while enhancing visibility and enabling informed decision-making across the business. Our focus includes, but is not limited to:
- Rigorous Control Testing
- Risk Concentration Management
- Crisis Preparedness and Stress Testing
- Regulatory Compliance Assurance
- Heightened Operational Risk Management
- Traceable Risk Controls
- Real-Time Risk Escalation
- Reputational Risk Oversight
- Governance for Critical Risks
- Integrated Risk Reporting
Risk Management Framework Design
We offer well-designed RMFs that:
- Support risk management strategies, risk identification and assessment processes suitable for a dynamic risk landscape
- Are capable of effective adjustment as your risk appetite and risk composition change
- Establish clear accountability and ownership for managing risks across the organisation
- Work with the organisation's governance structure, reporting hierarchy, and decision-making processes
- Involve key stakeholders to confirm the RMF supports the organisation’s objectives and risk appetite
Risk Management Framework Implementation
Effective implementation of an RMF is key to its success. We assist businesses in the implementation of their risk management frameworks by:
- Integrating necessary risk management technology for customised task tracking, notification systems, and reporting
- Aligning RMF with your control testing and risk assessment schedules
- Drafting necessary supporting documentation, such as risk assessment methodologies and guidelines
- Training staff to perform activities outlined in the RMF
- Providing support to ensure that your RMF is flexible enough to accommodate the real-life risk environment
- Developing clear risk communication plans covering identified risks, controls, and mitigations across all organisational levels
- Tracking the RMF’s performance and incorporating feedback for ongoing improvements
Risk Management Framework Enhancement
Continually improving and enhancing your Risk Management Framework is vital as new risks emerge. We offer customer RMF enhancements to increase its effectiveness and keep your business ahead of potential threats. Our focus areas here include, but are not limited to:
- Emerging Risks
- Business growth and expansion
- Introduction of new products
- Changes in risk ratings, risk appetite, changes in risk profiles
- Auditors' and regulators' findings, including identified deficiencies and breaches
- Internally identified areas of improvement and gaps
- Results of previous risk assessments
- Results of previous internal controls testing
- New compliance requirements, changes to the existing regulatory regime, and adaptations to regulatory compliance guidance
- Changes in available risk management technology
- Integration of updates in risk management standards (e.g., NIST Risk Management Framework for Information Systems, ISO 31000, COBIT, and others).
- Industry benchmark practices
Risk Management Framework Review
Regular CMF reviews can help the business to continuously align its risk management practices with the current risk environment and business owner needs. Our services include a thorough Risk Management Framework review, which evaluates your current risk management strategies and identifies areas for enhancement.
Operational Risk Management
With years of proven success in operational risk management, we focus on the operational risk management process to help you prevent operations-related risk events, business disruptions, reputational and financial losses, regulatory penalties and more. This service includes the following non-exhaustive focus areas:
- Process Mapping: We identify and document critical business processes to uncover vulnerabilities and optimise workflows.
- Controls Mapping and Establishment: We map risks to controls, implement effective mitigation measures, and test controls to ensure they function as intended. Visit our Internal Controls Development page for more information.
- Controls Testing: We conduct systematic testing of your internal controls to verify their effectiveness and alignment with your operational risk management objectives. Visit our Internal Controls Testing page for more information.
- Alignment with Risk Appetite and Frameworks: We align internal controls with your defined risk appetite and integrate them into your overarching risk management framework.
- Risk Escalation Procedures: We establish clear protocols for escalating identified risks to ensure timely intervention and resolution.
- Training and Empowerment: We train your staff to recognise, manage, and respond to operational risks effectively, ensuring everyone understands their role in risk management.
- Key Risk Indicators (KRIs): We monitor KRIs to detect risk trends, assign accountability, and enhance risk oversight.
- Monitoring and Analytics: We deploy monitoring systems and analytics to identify anomalies and strengthen your organisation’s ability to address risks proactively.
- Accountability and Ownership: We define roles and responsibilities to ensure clear ownership of operational risk management tasks.
- Effective Reporting: We develop reporting tools to track risk statuses, mitigation efforts, and outcomes, providing valuable insights for stakeholders.
Compliance Risk Management
We offer a range of compliance management solutions, including but not limited to:
Compliance Risk Management
- Compliance Advisory Service to help your risk and compliance teams and management with various aspects of regulatory compliance. Visit our Compliance Advisory page for more information.
- 2nd Line Regulatory Compliance Management: Full-scale regulatory compliance function leadership. Visit our Regulatory Compliance Management page for more information.
- Compliance Training Solutions: Effective and role-specific training to ensure staff are equipped to manage compliance obligations effectively. Visit our Compliance Training page for more information.
- Vendor Risk Management: Full range of services to help with your compliance obligations related to outsourcing under different laws and regulations. Visit our Vendor Risk Management page for more information.
- Fraud prevention solutions: Helping your business identify fraud activities and manage fraud risks. Visit our Fraud Prevention page for more information.
- Customer onboarding solutions: Helping you streamline customer onboarding while remaining compliant with applicable laws and regulations. Visit our Customer Onboarding page for more information.
- Remediation Services: Targeted support to address identified compliance gaps and align with regulatory standards. Visit our Remediation Services page for more information.
AML/CFT Compliance
- Specialised AML/CFT Compliance Advisory Solution. Visit our AML/CFT Compliance Advisory page for more information.
- Comprehensive AML/CFT Solutions: All-encompassing solutions for AML/CFT compliance management. Visit our Comprehensive AML/CFT Solutions page for more information.
- Internal AML/CFT Compliance Review: confidential review to identify and address gaps and prepare you for an external audit or AML/CFT supervisors’ review. Visit our Internal AML/CFT Compliance Review page for more information.
- Statutory AML/CFT Audit Service: Limited or reasonable assurance audits to meet statutory AML/CFT requirements. Visit our AML/CFT Audit Service page for more information.
- AML/CFT Training Solutions: To help you comply with different aspects of AML/CFT compliance. Visit our AML/CFT Training Solutions page for more information.
3rd Line Compliance Assurance
3rd Line Compliance Assurance Solutions: Compliance Assurance Program development and implementation, independent compliance assurance testing, with effective reporting. Visit our Compliance Assurance Solutions page for more information.
