Compliance Risk Assessment

Oben has produced a comprehensive Compliance Risk Assessment (“CRA”) solution, bench-marked against the ISO 19600 standard.

We will provide you will all of tools and guidance needed to produce your CRA, including:

  • Risk taxonomy –a set of proposed compliance risks including risk descriptions and a reconciliation with your compliance obligations;
  • Control mapping tools –tools allowing you to map your existing controls against your compliance risks. Our mapping tools cover the latest published versions of all JFSC Codes of Practice and the AML/CFT Handbook;
  • Risk assessment tools and guidance –guidance for rating controls and assessing compliance risk at an inherent and residual level and templates to perform the risk assessment;
  • Risk appetite statement – a draft compliance risk appetite statement for consideration and adoption by relevant legal entity boards; and
  • CMP methodology – a risk treatment methodology by which compliance risk exposures will be prioritised for treatment as part of the CMP or other interventions.

If you would like to discuss this topic further, please do not hesitate to contact a member of the Oben Regulatory team.

What Our Clients Say

The discussion topics are excellent and the forum, I would say, is an absolute essential for key persons

Given the volume of regulatory change, we had a need to provide additional AML training to our Compliance team and Directors. We wanted the training to be interactive and practical to ensure that the underlying legal obligations were brought to life. We brought in Oben as they have an excellent blend of legal, regulatory and compliance experts with extensive real life experience. We weren’t disappointed. Oben delivered practical and informative sessions which were tailored to our business needs, delivering real value.

We instructed Oben to completely redesign our AML/CFT Policy and Manual at a critical point in our business’s development. This was quite a sizable undertaking. During the process we were massively impressed by the depth of legal and regulatory knowledge exhibited by Alex, Jamie and Nicola. They worked fabulously well as a professional team and the work was of the highest quality. We particularly liked how they judged their points of consultation with us perfectly; determining what were the critical stages of the Manual’s development and when there was a judgement call to be made in respect of policy. Overall we found the experience of working with Oben professionally and personally rewarding as we find them to be a very clever and approachable bunch of people.

Oben have expertly advised us on complex issues relating to governance, AML/CFT and regulatory matters in the context of our Jersey headquartered and multi-jurisdictional international financial services business. They were able to do this through their expert team who have the right experience necessary to navigate through such complexities. They supplemented their advice with important board support and training. Given our confidence in Oben, we will continue to use their advice to support us in the development of our future-proof operating model.