Compliance Monitoring

Compliance management is the process by which managers plan, organise, control, and lead activities that ensure compliance with laws, standards and policies. With the consequences of failing to comply with laws, regulations, and standards having such a high potential cost, compliance is clearly a very big issue for businesses.

Avoid legal consequences and financial and reputational damage, by doing it right the first time. We at Valuence can assist organisations to turn compliance obligations into daily processes and procedures, monitor compliance controls, compliance reporting internally and externally and provide the necessary training.

We offer the following services in relation to Anti-Money Laundering and Countering the Financing of Terrorism:

• Review of the adequacy and approval of AML/CTF policies and procedures

• Assessment and approval of the Risk Management and Compliance Programme (RMCP)

• Evaluation of the adequacy and effectiveness of the risk rating methodology and associated risk assessments

• Assessment of the adequacy and effectiveness of risk assessment and screening processes

• Review of record-keeping and transaction monitoring controls

• Testing of Cash Threshold Reporting (CTR) and Cash Threshold Report Aggregation (CTRA) compliance and other FIC reporting requirements (including International Funds Transfer Reporting and Terrorist Property Reporting)

• Review of processes for identifying, investigating, and reporting Suspicious Activity Reports (SARs) and Suspicious Transaction Reports (STRs)

• Assessment of employee training and AML compliance awareness

• Review of compliance with beneficial ownership, company, and trust disclosure obligations

• Evaluation of the timeliness and accuracy of regulatory reports submitted to the Financial Intelligence Centre (FIC)

• Assistance with clearing and resolving sanction alerts (including Level 1 and Level 2 quality assurance checks)