Financial services firms can be easy victims of financial crime.

Challenge

Financial crime is a constant threat to regulated financial services firms.

Firms and their clients can be directly targeted by criminals or be used to launder the proceeds of crime. Financial firms trade on their reputations for stability and security, so it is especially important that they protect themselves against crime.

Maestro-Solution

GRC-Maestro helps firms protect their business and their clients from financial crime by implementing a comprehensive governance environment appropriate to their specific risk profile.

Using GRC-Maestro, firms can evidence full compliance with statutory/regulatory rules, best practices and internal controls:

Management Information

Are Senior Management receiving the Financial Crime information they need to safeguard the business, including periodic reports and are material issues escalated as they are identified? There needs to be a specific focus on the reporting and controls over remote offices which represent a greater financial crime risk.

Crime Risk Assessment

Ensure the firm's Financial Crime risk has been assessed and been periodically updated to reflect changes in the business structure (operations and products), geographical locations and emerging types of crime. The assessment should be undertaken by an experienced and qualified professional.

Policies & Procedures

The firm's Financial Crime Policies/Procedures need to reflect the risks identified in the Financial Crime Risk Assessment. Each Policy/Procedure needs to be periodically reviewed, updated and implemented to reflect changes in the firm's Financial Crime risks.

Resourcing & Monitoring

The firm's Financial Crime Risk Assessment needs to determine the firms Policies/Procedures and the resources dedicated to countering the risks identified.
By periodically monitoring a firm's Financial Crime, it is possible to assess the accuracy of the Risk Assessment, the adequacy of Policies/Procedures and resourcing.

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