Compliance Risk Assessment and Gap Analysis

• Analysis of the obligations required by AML & CFT regulations and supported by the Compliance function for integration with what is defined by internal policies on the identification of possible risks of non-compliance.

Design and implementation of risk models based on internal policies and risk indicators issued by the Bank of Italy and by sector associations (ABI, Assofin)

• Definition of highly customized models for calculating, attributing and managing a customer’s risk profile and for detecting suspicious behaviour through the generation of system red flags.
• Definition in conjunction with the compliance function of a control system with a different depth of micro-capillarisation based on business needs (from the pure statistical model to a regulatory phenomenon system).
• Name detecting and monitoring list
• Integration, within the risk models, of internal monitoring lists and international standards (FACTIVA, DowJones, etc.) for the purpose of detecting potential critical issues on customers (PEP, PPE, Sanctions, Fraud), on transactions (betting , Cryptocurrencies, etc.) and on counterparties
• Design and production of specialized reports to support Compliance analysis, for monitoring the operations and performance of the Function (e.g. KPI, red flag volumes) and for the preparation of information flows (towards the Supervisory Body, for example and Bank of Italy)
• Impact Simulation on a variation of the rules (e.g. threshold, calculation logic) on the risk profiles and on the volumes of red flags that would be generated by the system
• Design of flexible and customized workflows designed on the basis of the organizational model adopted by the Compliance Function that guarantee the segregation and traceability of the controls carried out
• Design of customized interfaces based on user experience that facilitate the performance of the operational activities of the Compliance Department
• Support in the definition and collection of the functional requirements of the Compliance Department and their transmission to the IT Department.
• Support to the Compliance Department for Program Management of IT transformation projects.