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Risk Assessment

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Risk Assessment
RISK ASSESSMENT PLATFORM

What is the Risk Assessment Platform?

Increasingly, regulations require organisations to take a risk-based approach to their compliance programs. The robustness of the risk assessment has therefore become critical to the governance of compliance programs.

Arctic's risk assessment solution is a cloud-based platform designed to help businesses identify, assess, mitigate and manage AML compliance, bribery, fraud, cyber and other risk domains.

RISK ASSESSMENT PLATFORM

How it works

Risk Assessment Platform is a market-leading solution, purposefully designed by subject matter experts to allow regulated businesses to take control of the enterprise-risk management process.

By combining the latest technology with industry best-practice thinking into an easy-to-use and highly configurable platform, you will be able to understand your risk profile and ensure the most effective controls are applied to reduce your organisations risk exposure.

By answering some simple questions about your business, our step-by-step process provides you with the following outputs:

  • CONFIGURE

    • Bring your own content or
    • Buy content modules
    • Risk libraries - AML/CFT, Anti-bribery,
      Fraud, IT/Cyber and Controls library
    • Select risk rating methodology
    • Calibrate / configure risk platform

  • CONDUCT

    • Define assessment context
    • Conduct risk analysis
    • Conduct controls testing
    • Document risk treatment activities
    • Document actions and issues

  • REPORT

    • Draft executive summary report
    • Draft key findings and observations
    • Make recommendations
    • Seek management responses
    • Edit, review and publish the report

  • ANALYSE

    • Risk dashboards
    • Operational dashboards
    • Breach and incident dashboards
    • Data analyser, benchmark compliance
    • Enterprise data analytics

  • IMPLEMENT / OPERATIONALISE

    • Then simply review and refresh, returning to the first step.
RISK ASSESSMENT PLATFORM

What are the key features?

  • Highly configurable risk assessment framework based on industry standards

  • Import your own risks and controls or use our expert content modules

  • Flexible risk methodology, tailored to your risk-based approach

  • Structured workflow process for assessing risks and controls

  • Breach and incident reporting supports day-to-day operations

  • Action and issue tracking helps manage improvements

  • Enterprise risk analytics across your organisation

  • Flexible deployment options - fully-hosted or deployed on-premise

RISK ASSESSMENT PLATFORM

Why choose our product?

Risk assessments conducted on spreadsheets can make reporting and benchmarking very difficult. Knowing what risks to assess can be a challenge with experts in short supply.

  • Decades of expertise distilled into an easy-to-use platform
  • Modernise your risk management practices using the latest technology
  • Standardise risk based methodologies across the enterprise
  • Reduce reliance on expensive consultants, bring expertise in-house
  • Save time and money, designing risk frameworks, reducing compliance costs
  • Demonstrate sound risk management practices to Regulators
  • Provides peace of mind to the Board of Directors
  • Join our community and have your say on enhancements

DOWNLOAD SOLUTION OVERVIEW

RISK ASSESSMENT PLATFORM

Pricing

If you would like to arrange a full demo or understand more about our hosted, on-premise or private cloud licensing arrangements please contact us to discuss your requirements.

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Client testimonials

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.

Chief Executive Officer, Castle Harbour Securities