Our approach
Whether your AML needs are self-identified, driven by changing standards, or the result of regulatory inquiry or investigation, Deloitte has the tools and resources to address them in a timely, efficient and high quality manner.
AML Program Consulting
We will assist you with designing and implementing AML programs which are commensurate with the size and nature of your business and risk appetite. This includes developing AML policies and procedures which not only comply with regulatory requirements but also meet industry leading standards.
AML Readiness Assessment
We will assist you with preparing for future regulatory examinations or independent reviews. Our highly experienced and qualified team can help guide you through self-assessments to gauge your readiness for upcoming AML regulatory examinations or independent reviews while identifying areas to enhance your AML program to meet minimum regulatory requirements and expectations.
Independent Testing and Program Gap Assessments
We help our clients by testing the effectiveness of their existing AML program including its people, documentation, processes and technology. We also provide gap analysis services assisting organizations to analyze their current program, highlighting strengths and shortcomings when compared to regulatory and industry requirements and trends.
AML Remediation
Following your AML Readiness Assessment or your Program Gap Assessment, we will assist you with remediating the deficiencies previously identified using a sound project management approach and Deloitte’s risk management methodologies to ensure gaps are remediated.
Independent Assessment Services for those Charged with Governance and the Cayman Islands Monetary Authority
We will assist you with developing and implementing a clearly defined, risk-based AML internal audit program. We are also able to assist you with the execution of the AML internal audit program including testing the program and reporting to those charged with governance, as well as the Cayman Islands Monetary Authority.
Risk Assessment Consulting
We will assist you with developing and implementing effective enterprise, customer and sanctions risk assessment models. With regards to the regulatory requirements around enterprise wide risk assessments, we will assist you with measuring and documenting the AML risks arising from factors specific to each Line of Business (“LoB”), including customer base; products and services; transactions; geographies; and delivery channels. We further capture detail on scope and effectiveness of controls such as policies, procedures, and processes used to manage AML risk. Through these activities, we can provide an analytical assessment of inherent AML risk levels and an assessment of the control processes in place to manage those risks.
Know Your Customer (KYC) Consulting
We will help you effectively manage risk and meet regulatory expectations by assisting you across all the elements of your global KYC program, including: policies and procedures, client risk rating models, KYC operating models and data management, and customer and enhanced due diligence assessments. We also provide a broad range of KYC remediation services, assisting you to uplift customer files to new standards.
Training
We develop and deliver customized training for all levels of employees, management, and Board of Directors.
Transaction Reviews / Lookback Investigations
We will assist you with assessing current transaction monitoring rules and the process to detect, prevent, and report suspicious activity.
Technology Consulting
We have an advanced AML analytics team and a wide range of technology services to assist you with understanding your data to make informed decisions regarding your AML technology as a critical component of a comprehensive AML program. We are also able to help clients manage and stay abreast of emerging technological trends including digital currencies and digital ledgers (i.e. Blockchain).
Sanctions Governance Consulting
Deloitte has experience in providing overall, discrete, and timely advice on sanctions programs risk management and compliance. We have worked with many of the world’s largest financial institutions and have well-established relations with the relevant regulators.