Poor AML Governance is the root cause of almost every AML disaster! 

Challenge

The prevention of money laundering and terrorist financing has united the financial regulators in taking firm and resolute action.

Firms have been shut down because of poor Anti-Money Laundering (AML) management while the fines have escalated to a level where they can exceed profits.

Maestro-Solution

GRC-Maestro helps ensure banks have the processes, checks, controls and management oversight required to ensure banks are fully compliant.

AML Governance is built on senior management having comprehensive and accurate information for them to oversee their bank’s anti-money laundering efforts:

AML Risk Assessment

Reviewing the risk of each business line, customer base and geographic location of the business and customers. The Risk Assessment is the foundation of every firm's AML Management Framework.

AML Strategic Plan

Each bank should periodically update their AML Strategic Plan to address the risks identified in the AML Risk Assessment. The AML Strategic Plan includes an assessment of resourcing (people, systems, data) and the management oversight required.

AML Board Reporting

The Board of Directors, or a sub-committee, needs to include a line item in their agenda to review the latest AML Status Report. Each Status report has to cover the material changes in the bank's AML status as well as a record if there is nothing to report.

GRC-Maestro

Prove Compliance – Evidence your Governance, Risk & Compliance (GRC)

Automate GRC – Run manual checks and processes automatically

Low Cost – Quick and easy to use + low pricing