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Risk Assessment Platform

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

Risk Assessment

Client - Suncorp
BOQ 140X60
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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 financingsanctionsbribery and corruption, fraud, modern slaverywildlife trafficking and correspondent banking.  We've also developed content modules for Enterprise Risk Management 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?

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Take the EWRA Maturity Assessment Survey Today

It takes less than 3 minutes.

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.

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

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.

Sanctions

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.

Anti-Bribery & Corruption

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.

Fraud

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.

Modern Slavery

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.

Wildlife Trafficking

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

Correspondent Banking

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.

Coming Soon

In the future, we are planning to build industry best practice AML/CTF risk models for key industry sectors, as well as, for other financial crime-related risk domains such as Tax Evasion (FATCA/CRS) and Cyber Crime.

If you are a subject matter and want to work with Arctic in any of these areas please get in touch.

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.

Coming Soon

In the future, we are planning to build other non-financial crime risk models such as ESG and Climate Risk.

If you are a subject matter and want to work with Arctic in any of these areas please get in touch.

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.

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.

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  • 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

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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

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

Awards we've won

How much does your business-wide financial crime risk assessment cost?
Could you save with a technology first, human led approach?

Use our cost and savings estimator to find out.