Risk Assessment

Risk Audit are conducted by Legal RM staff in conjunction with the industry leading client screening solution, Datanomic dc:Director and delivers a quantified assessment of compliance risk, based on screening a sample of an organisation’s customer database.

The auditors use Datanomic’s powerful Compliance Screening software and your preferred Sanctions & PEP Screening list.

Risk Assessment Image
Highlights of a Risk Assessment include:
  • A report stating the number of Politically Exposed Persons (PEPs), financial criminals, other criminals, terrorists, disqualified directors etc in the sample and statistical projections of your possible overall exposure;
  • Full Sanctions & PEP Screening list profiles for selected matches;
  • A complete list of your customer matches with the screening list profile ID which enables you to conduct further investigative checks;
  • A presentation of the findings of the Risk Audit, which will be co-developed and delivered with the project sponsor, to an invited audience of your Executive Management and Compliance team;
  • Hard copies of the documentation: Risk Audit report, selected screening list customer profiles, Microsoft Powerpoint presentation;
  • An estimate of the implementation costs and resource requirements for Compliance Screening of your full customer database.

Implementation

  • The Risk Audit is conducted either on site at your premises or off-site at Legal RM’s offices.
  • dn:Director works with all national, regional or global sanctions and watch lists (e.g. Bank of England Sanctions List, OFAC, Home Office List of Terrorist Organisations) as well as open source watch lists and databases from 3rd party intelligence providers. Your own black lists or other denial lists can easily be included through the simple configuration.
  • The full screening list datafile is used to screen against the sample of your clients.
  • Datanomic Compliance Screening software is deployed for the duration of the Risk Audit.
  • There is no software or data to install in your environment – the hardware used in the Risk Audit is provided by Legal RM.
  • We will screen 10% of your customer database or 100,000 records, whichever is the greater.
  • The Risk Audit is conducted under a mutual Non-Disclosure Agreement.