Risk Assessment Platform

Digitise and automate your enterprise-wide risk assessment in 6 easy steps

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What is the Risk Assessment Platform?

Your Smart Enterprise-Wide Risk Assessment Solution

Arctic's Risk Assessment Platform is purpose-built for larger, complex organisations that must identify, assess, mitigate and manage financial crime risks. Our subject matter experts have developed risk and control libraries for a range of financial crime risk domains including money laundering and terrorism financing, sanctions, proliferation, bribery and corruption, fraud, market abuse, modern slavery, wildlife trafficking and correspondent banking. We've also developed content modules for Enterprise Risk Management and ESG risk, and have more in development.

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Discover the Game-Changing Risk Assessment Platform!

Traditionally, financial crime risk assessments have been conducted using spreadsheets, with GRC platforms serving as a repository of risks and controls - they are simply not designed for a financial crime use case.

Arctic’s multi-award-winning risk assessment platform can digitise spreadsheet-based approaches and automate the inherent risk assessment by ingesting data via APIs or file uploads into customisable risk models, saving considerable time and money, as well as being far more robust, repeatable and reliable. We also white-label our platform for risk consultants.

Compliance. The smart way.

In a constantly changing regulatory environment where the consequences for non-compliance can be catastrophic, why rely on spreadsheets or GRC solutions not built to conduct financial crime risk assessments when you can experience the power of the Risk Assessment Platform?

How mature is your approach to risk assessments?

Enterprise-wide risk assessments (EWRA) have traditionally been performed using spreadsheets, but these are no longer fit for purpose and now there is a much better way to digitise and automate this process regardless of where you are on the maturity curve.

We’ve helped hundreds of companies move away from spreadsheets by deconstructing excel-based financial crime risk assessment models and importing them into our platforms, instantly digitising the process.

And for organisations that have already digitised their approach, we’ve gone one step further and built a data-driven risk assessment feature so you can ingest data directly from your systems directly into our Risk Assessment Platform, either through API data feeds or file uploads, driving huge efficiency gains.

So, where are you on the financial crime risk assessment maturity curve? Why not take our survey below and find out?

Take the EWRA Maturity Assessment Survey Today

It takes less than 3 minutes.

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Digitise and automate your enterprise-wide risk assessment in 6 easy steps

Digitise

For organisations looking to move away from spreadsheet-based approaches and digitise the entire enterprise-wide risk assessment process.

Step 1

Configure the risk methodology

Step 2

Import your risk model content or use ours, apply weightings and answer set thresholds and import the control library

Step 3

Align risk assessments to your organisational structure

Step 4

Assess inherent risks and control effectiveness and automatically calculate the residual risk rating

Step 5

Generate real-time dashboards and reports

Step 6

Document gaps and action plans continuously strengthening your financial crime control framework

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Automate

For organisations looking to save time by moving towards a data-driven, objective approach by ingesting data into the assessment.

Step 1

Use our expert-built content, or bring your own

Step 2

Automatically create API data sets from risk models

Step 3

Align risk assessments to your organisational structure

Step 4

Ingest data via API data feeds or file uploads

Step 5

Assess the design and effectiveness of controls

Step 6

Generate real-time dashboards and reports

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How the Risk Assessment Platform helps with financial crime and non-financial crime risk management

Customise risk assessments with an adaptable platform

The Risk Assessment Platform is a highly-configurable platform that can be tailored to your organisation’s risk assessment methodology, risk and control libraries relevant to your business and execute these across multiple countries, operating groups or business units, producing real-time dashboards and reports, aggregated across your enterprise

Leverage expert-built risk and control content modules, bring your own or build a hybrid

We have built a suite of financial crime and non-financial crime risk modules, consisting of hundreds of risk indicators and associated controls, for a range of topics including; money laundering and terrorism financing; sanctions; bribery and corruption; fraud; modern slavery; human trafficking, correspondent banking and enterprise-risk management. You can either use these, import your own risk and control libraries or build a hybrid.

Digitise and automate your financial crime risk assessments

Gone are the days when enterprise-risk assessments could only be conducted every 1 to 2 years, primarily because excel-based approaches are fundamentally flawed. Now you can digitise your excel-based financial crime risk model and also automate the ingestion of data directly from your systems directly into our Risk Assessment Platform, either through API data feeds or file uploads, driving huge efficiency gains.

Experience the power of the Risk Assessment Platform Today!

Simplify your approach to financial crime risk management through digitisation and automation and spend more time managing risks, strengthen your defences and protect your business against financial crime.

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Prepare and protect your organisation with our expert-designed risk and control content modules

Arctic’s subject-matter experts have developed baseline risk and control libraries which our clients can further configure or they can build their own or build a hybrid.

Financial Crime Risk Domains

AML/CTF Risk

We’ve developed several AML/CTF Risk Modules including a data driven risk model that contains over 450 individual Risk Indicators across Environmental, Business, Customer, Product and Service, Channel, Transaction and Country Risk Groups.

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ML/TF/PF Sectoral Risk

We’re developing industry specific ML/TF/PF risk and control modules for a number of financial services, gaming, gatekeeper professionals and high-value goods dealer sectors, which our clients can use as a starting point or validation point for structuring ML/TF/PF risk assessments.

Coming Soon

Sanctions Risk

We’ve developed a Sanctions Risk Module with over 100 individual Risk Indicators across Environmental, Business, Customer, Product and Service, Channel, Transaction and Sanctions Risk Groups.

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Proliferation Financing Risk

We’ve developed a Proliferation Financing Risk Module that contains hundreds of individual Risk Indicators across Environmental, Business, Customer, Products and Services, Channel, Transaction and Country Risk Groups.

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Bribery & Corruption Risk

We’ve developed an Anti-Bribery and Anti-Corruption Risk Module that contains over 450 individual Risk Indicators across Environmental (Internal and External); Business; Employee; Customer; Product, Service and Transaction; Channel; Service Provider and Country Risk Groups.

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Fraud Risk

We’ve developed a Fraud Risk Module that contains over 150 individual Risk Indicators across 10 Risk Groups including; Customer Account Fraud; Falsifying Work Papers; Fraud in Hiring Contractors and Consultants; Procurement Fraud; Financial Fraud, Personnel Fraud; Management Fraud; Fraud involving Assets or Stores; Information Systems and Other Frauds.

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Anti-Facilitation of Tax Evasion Risk

An Anti-Facilitation of Tax Evasion Risk Assessment is a systematic process that helps organisations operating in these sectors, to identify and assess the potential risks and vulnerabilities to being wittingly or unwittingly involved in tax evasion schemes. Our platform helps them to assess the design and operational effectiveness of their control frameworks, to ensure that tax evasion risks are mitigated and managed.

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Market Abuse Risk

A Market Abuse Risk Assessment helps organisations identify and assess the risks of insider trading, market manipulation, and other deceptive practices that undermine market integrity. Our platform enables businesses to evaluate the effectiveness of their controls and implement measures to detect and prevent market abuse.

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Modern Slavery Risk

We’ve developed a Modern Slavery Risk Module that contains over 100 individual Risk Indicators across 5 main Risk Groups including; Business Operations; Vendor Operations; Products, Supply Chain and Services and Due Diligence.

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Wildlife Trafficking

We’ve developed a Wildlife Trafficking Risk Module that contains Risk Indicators across 3 main Risk Groups including Customer; Business and Transaction.

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Correspondent Banking Risk

We’ve developed a Correspondent Banking Risk Module for AML/CTF and Sanctions that’s based on the Wolfsberg Correspondent Banking Due Diligence Questionnaire (CBDDQ) and contains over 150 individual risk indicators across 60 Risk Factors and 14 Risk Groups.

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Other Risk Domains

Enterprise Risk Management

We’ve developed an Enterprise Risk Management (ERM) Risk Module that contains over 150 individual Risk Indicators across 60 Risk Factors and 4 Risk Groups - Strategic; Financial; Operational and Regulatory.

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ESG Risk

We’ve developed an ESG (Environmental, Social and Governance) Risk Module that contains over 150 individual Risk Indicators across 60 Risk Factors and 4 Risk Groups - Environmental, Social and Governance Risk.

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Empower your business with the Risk Assessment Platform. With a complete picture of your enterprise-wide risks, you’ll be able to make informed decisions and strengthen your defences against financial crime.

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Industries we support

The Risk Assessment Platform has been tailored to address ML/TF risks across multiple sectors, including financial services, gaming and wagering, gatekeeper professions, high-value goods dealers, professional services and many other industries.

How does it work?

The diagram below visualises recognised industry best risk assessment practices overlaid against the features within the Risk Assessment Platform that supports these processes.

Arctic Intelligence_BuyersGuide_1infographics

Highly configurable so you can tailor the platform to suit your needs

Digitise and automate by ingesting data via API or file upload

Import your own risk and controls or use our expert-built risk domains

Track, monitor and report on actions, issues and incidents

Flexible risk methodology, tailored to your risk-based approach

Real-time dashboards and analytics, with exportable reports

Auditable workflow process for conducting risk analysis and controls assessment

Fully hosted in a secure cloud and supported by AML experts

Key features

To help you manage your enterprise-wide risks, whatever the risk domain you’re assessing

Why choose the

Risk Assessment Platform?

Fully configurable risk analysis and controls assessment platform
Expert-built content modules with hundreds of risks and controls
Digitise spreadsheet-based approaches, improving quality
Automate risk assessments by ingesting data, improving efficiency
Real-time analytics, approval workflows and fully auditable
Save time and money, reducing compliance costs

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Book your free Discovery Workshop today!

Unlock the future of efficiency with our exclusive, no-cost Discovery Workshop. This personalised consultation is designed to help us understand your current approach to financial crime risk assessments, so that we can recommend how we can help you to digitise, automate and generally improve your risk assessment processes through Arctic Intelligence’s multi-award-winning risk assessment platforms.

Current state assessment (methodologies, risk models and tools)
Understand goals, objectives and timings
Demonstration of the Risk Assessment Platform
Define next steps

Companies we've helped

TradeMax switched from spreadsheets to software, for AML / CTF Risk Assessments. This is a critical function and Arctic Intelligence helped us to meet our obligations efficiently and effectively. Now that we are aware of Arctic Intelligence, why would anyone use spreadsheets to conduct AML / CTF Risk Assessments?

KEVIN CHU, COMPLIANCE MANAGER, TRADEMAX AUSTRALIA

I’ve established ML/TF Risk Assessments and Programs for a number of companies and have come to regard AML Accelerate as the ‘Gold Standard’. Given the entry point pricing, intuitive process and constant evolution aligned to such a dynamic regulatory landscape, I would thoroughly recommend the platform for start-ups and enterprise groups alike. The importance of using such high quality tools in supporting financial crimes risk management cannot be overstated.

Stu Hallows, CRO, Paytron

Risk Management is a priority at Bendix and we understand the first step towards managing risk is having an efficient Risk Assessment program that identifies and assesses inherent risks posed by the environment in which the company operates and the products it deals in. We were on the search for a program that could support us in identifying risks under various categories, points towards risk control mechanisms, and documents the process for regulators. ‘AML Accelerate’ fitted the bill and we are glad we chose it for the purpose. In our opinion, the idea of software assisted Risk Assessment and Documentation is a revolutionary concept brought to fruition by Arctic Intelligence.

Chief Compliance Officer, Bendix Foreign Exchange and Payment Solutions

Very impressed with the technology and how easy it was to navigate. I did not have any prior training with the platform, however it only took a couple of pages to understand how it works.

Craigs Investment Partners

If you think compliance is expensive, try non-compliance. Paying for the right tools, systems and resources always pays off!

Legal & Compliance Officer, Unity Bank

Following a full compliance review, we selected the Arctic Intelligence AML Accelerate platform to assist us with our AML compliance. We needed an efficient and user-friendly way to keep on top of our in-house procedures, risk assessments and the ever-evolving regulatory responsibilities.