AML Compliance

Solution & Benefits Lifecycle Related Regulations

AML Compliance Lifecycle

The AML compliance lifecycle includes the following steps, all automatically enacted by the ProcessGene™ GRC Software Suite:

Lifecycle step AML activity
AML compliance context establishment
  1. Definition of AML compliance related business processes
  2. Delineation of process diagrams (optional)
  3. Definition of assets within the AML scope
  4. Standardization and documentation of AML regulations, policies and procedures
Risk identification
  1. Risk description, identification of risk stakeholders
  2. Risk classification and determination of heat-maps
  3. Risk assessment and measurement
  4. Determination of Key Risk Indicators (KRIs)
  5. Risk tolerance determination
Control determination
  1. Definition of controls to mitigate identified AML risks
  2. Assignment of AML control owners
  3. Scheduling and monitoring AML control execution
  4. Assessment of residual risk levels
Requirement management
  1. Requirement definition
  2. Automated requirement workflow management
  3. Requirement fulfillment monitoring
AML audit and remediation
  1. Definition and scheduling of AML audit plans
  2. Definition of mechanisms for testing ongoing AML compliance
  3. Collection, analysis and storage of AML audit results
  4. Remediation plan definition, execution and follow-up
AML related incident management
  1. Incident recording
  2. AML related incident handling (using scheduled workflows)
  3. AML related incident analysis and reporting
  4. Incident monitoring and follow-up
AML certification
  1. Hierarchal AML certification process determination
  2. Establishment of an automated AML certification process
  3. Monitoring and reporting AML certification status
  4. Archiving AML certification history
Multi-Org management
  1. Determination of a global AML compliance baseline with mandatory components
  2. Establishing a workflow for examining local (subsidiary) variants
  3. Enforcement of enterprise guidelines, regulations and frameworks within subsidiaries
  4. Control AML compliance level both locally (per subsidiary) and globally from a central HQ cockpit

The ProcessGene™ AML Software Users

The ProcessGene™ AML compliance software provides value to the following users:
  1. C-level management (CEO, CFO, CIO, CRO, COO)
  2. Board of directors
  3. Compliance officers
  4. Internal auditors
  5. AML compliance managers



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