Health checks are a crucial part in an organisations defence to help determine if processes and systems are operating to their full potential and identify weaknesses and areas for enhancement.
Health checks take a detailed look at your organisations processes and procedures to ensure adherence to current legislation and regulatory obligations. Following a thorough review, a detailed report is produced outlining findings, including any practical recommendations and actions required to satisfy your obligations.
Both Transaction Monitoring and Name List Screening benefit greatly from regular health checks. Reviewing and assessing infrastructure and processes like workflows, algorithms, watchlists coverage, rules and parameters provide assurances that you’re ‘doing the right thing’.
Conduct reviews using tried and tested Financial Crime frameworks methodologies.
Identifying gaps and recommendations.
Aims to reduce any errors that may be viewed as a compliance gap.
Health checks ensure you are in line with regulatory commitments through independent validation.
Take measures to optimise the processes by incorporating best practices.
Identify Areas Of Concern
Explore New Opportunities