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To share information, ideas and experience relating to all aspects of op-risk management and compliance with Basel II
Automating Know Your Customer (KYC) and Know Your Business (KYB) checks are vital for payroll service companies. In the fast-paced, ever-evolving world of finance, the role of payroll service companie...
In March 2022, the Prudential Regulation Authority’s (PRA) Operational Resiliency Rules came into force. The rules, which impact UK banks, building societies, and financial services firms, mandate tha...
“I am confident and incredibly focused on my work. I can guarantee that I will never miss any kind of anomaly or issue within the compliance processes of your company. I will work tirelessly 24 by 7 a...
Any compliance officer will tell you that financial safety is the first benefit associated with regulatory compliance. Compliance officers are requested to issue reports to ensure they’re complying wi...
Customers are at the centre of any business, yet very few firms truly understand who their customers are. It is known that one of the biggest challenges in this industry is the ability to identify the...
In today’s world it is vital to adopt a continuous KYC (cKYC) approach rather than the inefficient costly periodic client reviews and remediation projects, to understand your customers' risk profile t...
Since the early 2000s, several industry and government agencies have expanded their compliance rules that address companies’ risk management plans, policies, and procedures. Image: What to Know: Sup...
The recent internet outage caused by a fault with cloud computing service Fastly, which took down thousands of websites in multiple countries, was a painful reminder of the importance of operational r...
On the 29th March 2021, the UK supervisory authorities publicised the final policy statements surrounding operational resilience. These had been in the pipeline since 2018, when the original discussio...
MetricStream’s Yo McDonald discusses how businesses can identify biases when evaluating risks, how it affects processes, and the steps businesses should take to mitigate bias. Evidently, risk evaluati...
When I think about the next couple of years for the UK banking industry, this nightmare scenario comes to mind. A milkman is going door-to-door collecting empty bottles. As he peers ahead through the ...
2021 will be a challenging but critical year for financial organisations wanting to deliver change within client onboarding and client lifecycle management (CLM). Covid and the fear of a global recess...