Conference Day Two: Tuesday, 01 October 2019
Tuesday, October 1st, 2019
Each financial institution has to be aware and have a full view of the financial crime and money laundering risks and know how to combat them. One of the many ways to do this include integrated risk and compliance on top of real-time identity verification, which is far better than the electronic version.
Key question – Do you know how to monitor your clients and identifying who presents a risk?
- Real-time identity verification – more secure and far safer than the usual electronic identity verification
- Anti-money laundering (AML) rules to improve detection and reporting of suspicious activity
Many times operational failures have led to great disasters. One of the keys to a successful reduction of operational failures is to periodically assess the threat skyline from all anticipated risks. Having in place an effective workflow management can reduce the operational risks to a significant level.
Key question – How does operational risk affect key operations of your enterprise in executing your strategy?
- Mismanaging non-financial risks leading to direct losses, including litigation, fines, or even indirect damage of reputation
- Major operational risk failures and the lessons learnt
- How do you improve the management of operational risk?