ANTI -MONEY LAUNDERING

SupervisorTechnology

AML360's SupTech solution isdelivered with a 'ready-to-go', sectorspecific, firm wide risk assessment.The proforma assessmentincorporates international anddomestic sector risks of moneylaundering and terrorist financing.Before finalising the firm widebusiness risk assessment, eachProfessional Body Supervisor (PBS)has access to our AML complianceprofessionals who can further assistthe PBS to critique and tailor to theirspecific requirements. In doing so,the PBS can support their members'adoption of a risk-based approach. When the member's profile issubmitted, the member will receive afull risk report, supported with PBSguidance material. The member's profile will also beduplicated to the PBS register. Theregister includes filters for high levelor deep analytics data mining.

The filters provide the PBS theability to carry out advanced dataanalysis, so that they can focusefforts and resources on thehighest risks. By adopting thisstyle of supervision, the PBS canensure measures to reducemoney laundering areproportionate to the riskspresented. The register provides heat mapsdefining risk ratings across themembership base. This can beused for peer analysis oridentifying compliance hot-spotsthat are increasing risk exposureto regulatory objectives.

ANALYTICS

"Each supervisory authority mustdevelop and record in writing riskprofiles of each relevant person inits own sector" - Regulation 17(4)MLR 2017

AML360 is a group of AML/CFTcompliance experts, academics andformer senior government adviserswho have developed algorithms tomeet best practice standards of the‘risk-based approach’ to AML/CFTcompliance. AML360 has evolvedinto a global comprehensive, end-to-end, digital solution for professionalbody supervisors.

WHO IS AML360?

WHO IS AML360?

AML360 is a hybrid SupTech andRegTech solution. It provides a PBSwith the tools to undertake sectorwide analysis, as well as providingmember benefits such as a firm widerisk assessment, client screeningand risk profiling, client accountmonitoring, geography risks andcase management. In doing so, thePBS is able to promote consistencyin standards and best practice.

WHAT DOES AML360PROVIDE?

Our consultants will work with yourprofessional body to ensureconfigurations are adequate andmeeting requirements of the MLR2017. A complete end-to-endframework can be developedwithin 48 hours.

TIME FOR SETUP?

Supervisory Technology(SupTech) provides benefits inanalysing large data, enablingoversight and identification of riskto be effortless. Because largedata can be analysed in seconds,use of SupTech is highly efficient. Use of SupTech allows day-to-dayworkflows to be automated. Byeliminating manual process,AML360's SupTech reduceshuman resourcing commitmentby at least 80%. Reducing human resourcingresults in reducing operationalcosts. This cost benefit isapplicable to the PBS and to itsmembership base.

BENEFITS OF SUPTECH

Often when regulations impact on asmall to medium sized firm, in-house personnel lack subject matterexpertise and the operationalsystems to fully commit and meetregulatory expectation. This resultsin the firm unintentionally failing tomeet regulatory expectation. Notmeeting regulatory expectationcreates a legal and financial risk. With AML SupTech, professionalorganisations can offer theirmembers a solution to anti-moneylaundering compliance, either aspart of their membership license oras an adhoc service that can bepurchased. This is one of the benefits ofAML360's technology. It is bothSupTech and RegTech, giving thePBS many options to grow theirmembership base and generaterevenue.

MEMBER BENEFITS

If membership groups have aninternational presence, AML360SupTech is adaptive to alljurisdictions.

AML360 is more than just asolution for AML compliance. It is adigital regulatory toolkit for allprofessionals, whether a lawyer, anaccountant, a broker or real estateagent, a remittance agent orbanking professional. The platform can be used toschedule client meetings, add filenotes to meetings, set taskpriorities and calendar reminders,manage client onboarding(screening and profiling) and meetall appropriate requirements formanaging the end-to-end clientcycle relationship. Suchrequirements include - onboarding,profiling, monitoring, reporting,updating, and off-boarding. When audits occur, all relevantdata is in a centralised data portal,saving significant time for auditpreparations.

DIGITAL TOOLKIT

GLOBAL REACH

The PBS register provides the firmrisk profile of each member, alongwith the full risk report and a casemanagement feature. The case management feature canbe used to determine the frequencyand intensity of on-site and off-sitesupervision. Additional tools available include acompliance review used by the PBSto monitor and measure adequacy ofmembers' AML defences. Thiscompliance tool is completed by themember and relies on bothqualitative and quantitative data. When a compliance hot-spot or 'redflag' is detected, the tool automatesguidance notes for the member firm,assisting to strengthen any identifiedweaknesses.

AML360 simplifies monitoring byusing colour coded riskindicators. This allows results tobe interpreted instantly, alongwith an ability to prioritisesupervisory action based on amember firm's risk level. Allrelevant data is contained withinthe red flag notification on thePBS membership register –allowing determinations to bemade quickly on matters thatneed to be escalated. Escalatedmatters can be ‘pushed’ throughto the enhanced monitoringregister, where actions, tasksand updates can be tracked andmonitored through to resolution.

DATA AT YOUR FINGERTIPS

"Each supervisory authority must adopta risk-based approach to the exerciseof its supervisory functions, informedby the risk assessments carried out bythe authority under regulation 17" -Regulation 46(2)(a)

Collaborate with andguide member firms

Risk BasedApproach

Firm Wide Assessment

Meet RegulatoryRequirements as a PBS

Reduce costs of humanresourcing

AML360 SUPTECH

AML360's SupTech managesdata by collating, analysing,measuring, recording andreporting, in a single,simultaneous action. With the use of this risk basedtechnology, a PBS will beadequately resourced toprovide evidence-basedunderstanding of the differenttypes of firms it supervises.

STREAMLINED

With a SupTech frameworktailored for AML/CFTcompliance monitoring, PBSmanagement reportingbecomes effortless. Seniormanagers can easily maintainand keep on top of risk andcompliance data. Heat mapsand data tables can bedownloaded into PDF format forexternal reporting purposes.

MANAGEMENTREPORTING

Employing qualified AMLcompliance professionals on afull-time basis can be expensive.When using existing staff to fillAML compliance roles, thesepersons often struggle withprioritising dual roles.Consequently, AML complianceis often lagging and before long,the reputation of the PBS is atrisk of criticism from the OPBASand HM Treasury. With the AML360 SupTech,specialist subject matterexpertise is embedded into thesystem, with access to key dataavailable on a 24/7 basis.Additional to a helpline, eachPBS has direct access to anAML compliance professional,as well as receiving ongoingupdates on domestic andinternational standards. SupTech is the perfect choicefor a PBS to meet regulatoryrequirements for promotingconsistent, good quality andtimely decisions.

SAVING COSTS

Your choice of supervisorytools is tailored to your sector,with due consideration givento the cost-effectiveness andproportionality of the differentoptions.

SECTOR PACKAGES

You can set staffpermissions to match therole of personnel. Permissionlevels include Exec, Admin,User or View. Each level hasvarying authorities, includingediting, deleting, and closingactions.

PERMISSIONS

The AML360 SupTech solutionhas been designed by formerAML regulatory supervisors,academics and AMLprofessionals, with a focus onthe risk based approach.

QUALITY SOLUTION

amlsuptech.co.uk

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