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.*
Risk Evaluation Questionnaire
Pursuant to the AML/CFT regulation, firms authorised to provide a licensable activity fall under the definition of subject persons. Subject persons are required to submit the Risk Evaluation Questionnaire (REQ)on an annual basis to the FIAU. The REQ requires firms to provide information and data including about their business, services, policies and procedures, governance and customer.
FATCA/CRS Reporting
Streamline your FATCA/CRS compliance with RMC Wise. Maltese Financial Institutions must report financial information (depending on the type of financial accounts maintained) on a yearly basis to tax authorities with the aim of combatting tax fraud and tax evasion. This is done through a process of automatic exchange of information (“AEOI”). RMC can assist your organisation with understanding the whole process, from determining the entity’s classification and reporting obligations under both FATCA and CRS regulations. RMC can also assist you with the registration and filing on the AEOI portal, whilst ensuring a smooth process throughout.
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FAQ'S
What services does RMC Wise Ltd provide?
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.
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