Risk Advisory Services

An enterprise-wide risk assessment gives management a complete view of the major risks affecting the organisation instead of looking at each department separately. The assessment can cover operational, market, compliance, legal, reputational, security and financial crime risks, depending on the nature of the business. We consider the likelihood and possible impact of each risk, the controls already in place and the exposure that remains. This helps management decide which risks need closer oversight, stronger controls, additional resources or more regular monitoring.

A business risk assessment looks at the risks created by the way your organisation operates. We tailor each risk review to the organisation’s activities, operating model and information relevant to your risk profile. We then evaluate the existing policies and controls to determine their effectiveness in relation to the identified risks. The assessment management gains a clearer picture of where significant risks lie and where stronger oversight, monitoring, or control measures may be necessary through the assessment.

A financial crime risk assessment helps your organisation understand where it may be exposed to money laundering, terrorist financing, fraud and other forms of financial crime. We begin by examining the existing risks before considering controls. Then we evaluate the effectiveness of current controls in mitigating those risks, and assess how effectively current controls reduce those risks. This process provides a clearer view of the risk that remains. Management can then use risk ratings and other assessment methods to determine where to focus resources, monitoring, controls, or further review.

A sanctions risk assessment looks at where sanctions exposure may arise from your business activities, customers, transactions, jurisdictions and other relationships. We review the risks relevant to your organisation together with the policies, screening processes, escalation procedures and internal controls used to manage them. The assessment helps identify where controls may not fully address the level of exposure faced by the business. Your team also gains a clearer basis for deciding where stronger checks, monitoring, documentation, or escalation may be necessary.

A customer risk assessment helps your organisation decide how much risk different customers present and apply the right level of due diligence. We consider factors such as the customer’s business activity, geographic exposure, transaction volumes, financial behaviour and other information relevant to the relationship. We can also review customer segmentation, scoring methods, and the way customers are classified into various risk levels. This helps your team make clearer customer risk decisions and apply extra checks where needed.

A fraud risk assessment looks at where fraud could happen, how it might occur and whether the controls already in place provide enough protection. We identify possible fraud scenarios, consider how internal or external parties could exploit weaknesses and review the measures currently used to prevent or detect them. Each risk can then be considered based on its likelihood, possible impact and the organisation’s risk tolerance. This helps management decide where existing controls are sufficient and where stronger countermeasures or process changes are necessary.

A payments risk assessment reviews the risks connected to payment products, transaction processes, systems and third-party relationships. This can include operational, fraud, credit and liquidity risks as well as risks linked to card payments, electronic transfers, mobile payments and payment technology. We also look at relationships with payment providers, processors, acquirers and other third parties where relevant. The assessment helps identify weaknesses in the payment process and indicates where controls, technology, monitoring, or third-party oversight may be needed.

Internal Audit gives management an independent view of whether risk management, governance and internal controls are working as intended. The review can cover AML/CFT risks, policies and procedures, control effectiveness, compliance monitoring, financial records, fraud controls, reporting and other areas included within the agreed scope. We look at how controls work in practice and whether there is enough evidence to support them. Findings are then clearly reported so management can understand what needs to be corrected, improved or monitored more closely.