A risk assessment is the process of identifying and evaluating potential hazards in the workplace concerning the day-to-day running of a business organisation. It is a legal requirement that involves identifying company's risk taking timely measures to control hazards and mitigate risks and compile a record of risk assessment to be compliant with firm's policies and procedures.
To create a Business Risk Assessment or Firm Risk Assessment report :
Launch AML Centre>Firm Wide compliance. Open Firm Wide Risk Assessment tab> New.
You are provided with a variety of risk factors identified under
Client: Access risks relating to your new and existing clients with in the firm.
Geography: Access risk that would relate to the geographical location your clients are based in.
Products and Services: Identify risk on the products or services that your firm provides to the clients.
Transactions: Access risks on the firms transaction with the clients.
Delivery Channels: Identify the risk associated with the methods of interaction with clients.
Go to Reports to generate a Firm Wide Risk Assessment Report.
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