Assisting with the identification and understanding of financial crime threats and vulnerabilities which our Client is exposed to.
RMC Wise provides tailored AML/CFT risk management and compliance solutions based on a thorough understanding of the risk profile and objectives of our Clients. RMC Wise promotes a proactive approach to detecting and preventing risks of money laundering with a view to protect the reputation of our Clients and to strengthen stakeholder trust.
We offer our Clients compliance solutions customised in line with their business model and meet local and international regulations and standards.
RMC Wise offers access to a dedicated MLRO or to AML/CFT compliance support to a number of financial participants including Asset Managers, Self-Management Schemes, MiFID Firms, Depositaries, Company Service Providers, Insurance Companies, Virtual Financial Assets Service Providers, Electronic Money Institutions, and Payment Institutions.
Money Laundering Reporting Officer (MLRO) Role
As part of our commitment to AML compliance excellence, we offer access to a dedicated Money Laundering Reporting Officer (MLRO). Individuals are selected from the RMC Team to join our Client’s firm and act as MLRO, as well as provide AML/CFT Compliance Support in accordance with their needs and regulatory requirements. All the members of our team are known to the MFSA and have been approved to hold the role of MLRO across various industries.
AML/CFT Compliance Support
RMC Wise offers advice and support on a project-based or periodical basis to help our Clients detect, measure, manage and report risks of money laundering, terrorist financing and sanction breaches. In an environment of ever-changing regulation and evolving threats, we help our Clients to detect and measure their risks through the implementation of a comprehensive risk assessment methodology. To manage and mitigate the identified risks and vulnerabilities, our team of expert professionals will establish risk-based and effective policies, procedures controls and measures, thus protecting the reputation of our Clients and avoid financial and regulatory sanctions.
AML/CFT
Compliance Services
Risk Assessment and Management
Establishing internal controls, policies and procedures which are commensurate to the type and level of risk identified in the risk assessment.
Liaison with Regulators and Authorities
Acting as the main point of contact between the firm and regulatory bodies and auditors.
Providing regular reports to senior management and the board of directors on AML/CTF activities and issues.
Monitoring transactions and activities for potential signs of money laundering or terrorist financing, Investigate and Report suspicious transactions and activities.
Customer Risk Assessment and Due Diligence
Conducting thorough customer risk assessments and performing customer due diligence.
Providing ongoing training to employees on AML/CTF policies, procedures, and regulations.
RMC WISE
FAQ'S
What services does RMC Wise Ltd provide?
RMC Wise Ltd offers a range of services including but not limited to *Risk Management*, *Regulatory Compliance*, *Financial Services Consultancy*, *AML/CFT Compliance*, *Internal Audit*, and *Regulatory Reporting Services.*
What is Risk Management, and how does RMC Wise Ltd approach it?
Risk Management involves identifying, assessing, and prioritizing risks to minimize, monitor, and control the probability or impact of an event that may or may not have a negative outcome on the Company. RMC Wise tailors risk management solutions based on a thorough understanding of each client's risk profile, business model and overall objectives, offering services such as governance, policies & procedures, enterprise-wide risk assessments, outsourced risk management functions, and cyber risk support.
What is Regulatory Compliance, and why is it important?
Regulatory Compliance ensures that a business adheres to external rules and internal controls imposed by regulatory bodies. It aims to protect license holders and their clients, ensure fair and transparent markets, reduce systemic risk, and combat financial crime. The Compliance Function advises and assists personnel in complying with legal and regulatory obligations, regularly assessing the effectiveness of measures and procedures in place. This is done through the effective implementation of a risk-based Compliance Monitoring Programme (CMP).
How does RMC Wise Ltd assist with AML/CFT Compliance?
RMC Wise Ltd helps businesses meet their Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) obligations by providing services such as risk assessments, customer due diligence, ongoing monitoring, transaction reporting, and AML training. They assist firms in implementing robust frameworks to prevent financial crime and comply with regulatory requirements.
What Internal Audit services does RMC Wise Ltd offer?
RMC Wise Ltd provides independent Internal Audit services to its clients. Internal Audit is crucial for ensuring the efficiency, security, and compliance of an organization. It provides independent assurance that a company’s risk management, governance, and internal control processes are functioning effectively. Moreover, Internal Audits help identify weaknesses, improve operational efficiency, and ensure compliance with regulatory requirements, reducing the risk of fraud and financial mismanagement. Our services include reviewing compliance with regulatory requirements, evaluating operational risks, and offering recommendations for process improvements to ensure organizations operate efficiently and securely. This is done through the effective implementation of a risk-based Internal Audit Plan.
RMC WISE
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