Williams McGuire conducts and documents risk assessments which describe the inherent money laundering and terrorist financing risk facing the Reporting Entity because of their product and service mix, client characteristics, and geographies relevant to their operations, considering: legislative requirements and regulator guidelines; research and statistics from authoritative sources; organizational experience; contemporary money laundering and terrorist financing trends and typologies; and empirical analysis.
Williams McGuire’s risk assessment reports clearly explain the process and findings, and contain menus of risk mitigation options for identified higher risk areas. There are three variations on our typical enterprise-wide risk assessment engagement:
- Consultant conducted: We review organizational information and conduct and document the risk assessment, with input from the organization.
- Consultant led: We design and lead a self-assessment of enterprise money laundering risk, through a series of training and facilitation sessions and questionnaires.
- Product or service specific: We review information about a contemplated or new product or service together with organization information and document the risk assessment, with input from the organization.
Contact Williams McGuire today for more information on how we can help you with your Risk Assessment & Documentation.