Jupiter Asset Management is a specialist, high conviction, active asset manager who help their clients achieve their long-term investment objectives through a range of actively managed strategies across equities, fixed income, multi-asset, and alternatives. Jupiter Asset Management is listed on the FTSE250 Index and has £55.3bn of assets under management (as at 30-June-2022).
The Objectives
- To standardise the approach to conducting business-wide risk assessments across various Jupiter Asset Management legal entities
- To increase the efficiency of conducting AML risk assessments and producing timely reports to Senior Executives
- To apply more consistency in the methodology across different legal entities within the Group
- After using AML Accelerate initially on one legal entity, Jupiter Asset Management expanded its use to multiple legal entities within the Group in the UK and other International countries.
The Solution
AML Accelerate has enabled Jupiter Asset Management to:
- Provide a full audit trail by recording the risk narrative and decision-making methodology against the appropriate risk factors, risk categories and risk groups;
- Document and assess the effectiveness of mitigating controls against each risk factor;
- Allocate individual risk ratings to each customer type, business, product, channel and jurisdiction;
- Keep a record of approvals by the Board through publishing and adopting each risk assessment when appropriate. Board reporting on the risk assessment outcomes using the sliding scale which visually gives a concise representation of Jupiter Asset Management's risks.
The Result
Jupiter Asset Management now benefits from having a more standardised approach to conducting AML risk assessments and is easily able to expand this to other legal entities in a timely and cost-effective manner and has realised the following benefits:
- Jupiter Asset Management has enhanced its overall ability to produce risk assessments in a timely manner in a way that uses a consistent and robust methodology, workflow and enterprise-wide reporting framework
- Jupiter Asset Management is also in a better position to be able to identify and assess both the inherent risks and develop an appropriate and proportionate control framework to mitigate and manage the identified risks.
Client Testimonial
"For Jupiter Asset Management, the key benefits that we have realised through using Arctic Intelligence's AML Accelerate solution has been the efficiency and speed of conducting ML/TF risk assessments and writing reports, as well as, the ability to adopt more consistency in our AML risk assessments across different legal entities within the Group."
Senior Advisor AML/CTF