- SERVICES AND SOLUTIONS
Services and solutions
In order to manage the integrity risks within a customer lifecycle management cycle, it is very important that organizations have a complete and integral overview of their client relationships. From identity related data and behavioral intelligence to checking payment transactions, organizations must record these data in CDD files and continuously monitor and review these in accordance with legislation. There is no one-size-fits-all format that determines the organizational set up of CDD activities within an organization. There are differences in a central or decentralized approach, differences in roles and responsibilities and differences in outsourcing or internal implementations. How can you integrate CDD into the existing business?
McMorla & Co advises you in the best fitting approach. We do this by offering guidance, advice and support with;
- the complete setup of the KYC end-to-end framework with a focus on continuous improvement and quality upgrade.
- efficient design of the onboarding process and effective application of the initial due diligence phase (IDD).
- the design of the outreach process towards customers and stakeholders.
- the application of the most effective screening tools.
- the establishment of a robust transaction monitoring system.
- classifying the risk rating as specifically as possible and determining a sound risk model.
- determining a risk-mitigating framework and determining the right risk appetite for the organization.
- creating a robust governance model with an effective positioning of the first line of defense with regard to the second and third line of defence.
- the implementation of policy into practical manuals within the customer lifecycle management cycle.
- implementing ESG policy (Environment, Social and Governance) and sustainability objectives with a correct connection to the KYC framework.
