Pa 2 Assist’s Post

Regulatory compliance in financial services firms does not solely concern compliance people. Everyone within a regulated firm needs to understand the context and regulatory perimeter in which their firm is operating and within which their daily role is executed. #facts #compliance #regulatorychange

#BFSI #2 👩💻 A #Compliance Officer (The rule-followers) A #Compliance Officer ensures that a company follows #laws and internal rules while working across different functions. 🔸 By #collaborating with various departments, they ensure #compliance is integrated into every aspect of the business. 🔸 Acting as a link between the company and #regulators, they navigate compliance issues, protecting the organization from legal violations and penalties With their expertise, #Compliance Officers help create a safer, more accountable business environment. Image source: Internet #finance #compliance #RTA #banking #legal

As regulators continue to crack down on misconduct with higher fines, compliance officers are under far more pressure to prevent such behaviour. According to a recent report by the Thomson Reuters Institute, regulatory compliance has become a top strategic priority for many legal departments around the world 💯 📌 An effective compliance officers in this dynamic era should: • Connect with customers personally. • Understand where they fit in the bigger picture of the organisation. • Work closely with other departments. • Solve crucial problems. • Possess critical thinking, creativity, and understanding skills. ➡️ Are you looking for more compliance insights? Contact me for more details. #complianceexcellence #complianceofficer

Is your current approach to compliance truly working for your firm? Would you prefer a more streamlined, efficient process to ensure client due diligence and AML compliance? At Amiqus, we work with 9 out of the top 10 volume law firms across Scotland and hundreds more across the UK, helping them simplify their AML compliance and client onboarding processes. Let's connect to explore if Amiqus could be the right fit for your firm: https://bit.ly/4glXYpv #AntiMoneyLaundering #Compliance #LegalTech #LawFirms

How can you avoid #AML fines using legal technology? - Pre-supervise daily processes - Increase visibility - Integrate systems and data - Regularly view and offer software training Discover an easier way to stay AML compliant and how legal tech can simplify the process: https://ow.ly/CWZ350QwEGH #legalsoftware #legaltech #lawfirm #SMEfirms #compliance Teal Compliance ILFM (The Institute of Legal Finance & Management) The Law Factory LLP

Sounds like the life of a compliance officer!! Happy Monday all. Make it a great week. #regulatorycompliance #mememonday #mondaymotivation #compliance #cco #finra #sec #complianceofficer #compliancematters #compliancemanagement #compliancesolutions #complianceservices #complianceprofessionals #rrmp

𝗩𝗖𝗢: 𝗧𝗵𝗲 𝗚𝗹𝘂𝗲 𝗧𝗵𝗮𝘁 𝗛𝗼𝗹𝗱𝘀 𝗜𝘁 𝗔𝗹𝗹 𝗧𝗼𝗴𝗲𝘁𝗵𝗲𝗿 Together, let's explore the crucial role of Virtual Compliance Officers in the compliance process. #Compliance #VirtualComplianceOfficer

𝗩𝗖𝗢: 𝗧𝗵𝗲 𝗚𝗹𝘂𝗲 𝗧𝗵𝗮𝘁 𝗛𝗼𝗹𝗱𝘀 𝗜𝘁 𝗔𝗹𝗹 𝗧𝗼𝗴𝗲𝘁𝗵𝗲𝗿 Together, let's explore the crucial role of Virtual Compliance Officers in the compliance process. #Compliance #VirtualComplianceOfficer

I love doing CDD on corporate clients …… said no one ever 🙄 Anyone carrying out client due diligence checks on companies will know how painful this process is right?! Never mind the fact that this information is rarely publicly available, even when you ask the client to confirm who the beneficial owners are, half the time they don’t understand what you’re asking them for! Plus the money laundering regulations specifically state that you can not solely rely on the Persons with Significant Control (PSC) or the confirmation statement at Companies House. So how can you make this process less painful? As a starting point ➡️ see what you can find through publicly available sources, check companies house, websites, google searches ➡️ if you use an electronic verification provider see what information they can offer - for UK companies they’ll be able to gather all the information for you and you can then send it to the client to confirm if that information is correct. Remember also the Legal Sector Affinity Group (LSAG) guidance has provided clarity on what you should be doing to “verify” beneficial owners, meaning you should now be carrying out the same verification checks on a beneficial owner as you would an individual client. So it’s important you know what your firm’s policy and procedure is in respect of this. #CorporateCDD #IFeelYourPain #UBO