FastwitConsult’s Post

Our fully booked off-the-record roundtable discussions were extremely successful. They offered unrivalled opportunities to discuss with peers and benchmark best practice. 📍The Financial Crime Summit - London - Strengthening Financial Crime Risk Management through Innovation, Collaboration, and Technology 📆 5 September 2024 #1LoD #FinancialCrime #FinCrimeSummitLDN

We are excited to sponsor The Financial Crime Summit held by 1LoD - Intelligence for Risk & Control Practitioners in #London on September 5! Learn more: https://lnkd.in/dcYd9gRq Gavin Proudley will speak on the panel discussion on Aligning Transaction Monitoring (TM) Systems and Adverse Screening for More Effective Case Management. Join us in enhancing financial crime risk management through innovation, collaboration, and technology. Will you be there? #1LoD #FinancialCrime #FinCrimeSummitLDN #AdverseScreening #RiskManagement

Financial institutions reliance on third-party service providers, some of which support their critical operations, has been growing, posing risks to financial institutions and, in some cases, financial stability. We have developed a toolkit to enhance risk management and oversight of third-party service providers to financial institutions. The toolkit incorporates feedback from our public consultation. It aims to reduce fragmentation in regulatory and supervisory approaches across jurisdictions and different areas of the financial services sector and facilitate coordination among relevant stakeholders. Thank you to everyone who provided feedback. Find out more: https://lnkd.in/dJ4xExGz #FinancialStability #ThirdPartyRiskManagement #OperationalResilience #Regulation

The Financial Stability Board (FSB) has published a toolkit to help financial institutions improve the management of their outsourcing and third-party relationships. It helps identify critical services and establish thorough risk management processes across the lifecycle of third-party services, which includes planning, due diligence, selection, contracting, monitoring and termination. The FSB document is in line with the requirements of the Digital Operational Resilience Act (DORA), which all financial institutions in EU must comply with by 17 January 2025. The FSB toolkit may therefore be used as an information resource for the implementation of the Digital Operational Resilience Act. #DORA #thirdpartyriskmanagement #outsourcing #financialregulation #ICTgovernance

𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐜𝐫𝐢𝐦𝐞𝐬 𝐚𝐫𝐞 𝐨𝐧 𝐚 𝐫𝐢𝐬𝐞!! As an #internal_auditor I know how challenging it is to detect and prevent financial crimes in the complex and dynamic global financial system. That's why I always look for the latest strategies and technologies that can help me enhance my financial crime risk management capabilities. Some of the strategies and technologies that I find most effective are - #internalaudit #auditors #financialcrime #digitalera

Great guidance publication yesterday on 3rd party risk from Financial Stability Board (FSB) and how to consider risks through a useful toolkit incorporating feedback they received, applicable across all financial services, and updated to incorporate the more tangled web of external providers we now all manage . #riskmanagement #thirdpartyrisk

When you trust us at Speaks Financial Group (SFG) to handle your payment processing, you're not just gaining a service, you're adopting a shield against chargeback and fraudulent activities.🛡️💼 We utilize advanced technology and proven strategies that work around the clock to keep your business protected. Our comprehensive reporting and robust risk management systems consistently ensure your payment environment is secure. 🔒 With SFG, chargebacks don't stand a chance! Equip your business with peace of mind and let's win the good fight against potential financial risks. 💪🏽💼💙 #SFGSecurity #FinancialShield #RiskManagement #PeaceOfMind

Happy to have contributed to the Financial Stability Board (FSB)’s important work on third-party risk management by financial institutions and #oversight by financial authorities. The toolkit uses an holistic approach broadening the scope from the well-known old #outsourcing to third-party service relationship. It also sets common terms and definitions and fosters collaboration between authorities. Find out more: https://lnkd.in/dFwYz68m #FSB #operationalrisk #thirdpartyrisk #policy #businesscontinuity #operationalresilience #thirdpartyriskmanagement #supplychain #criticalservice #thirdpartyservicerelationship #supervision

Risk scoring is a pivotal process in assessing the likelihood of clients engaging in illicit financial activities. It enables institutions to allocate resources effectively, adhere to regulations, and mitigate the risks associated with financial crimes. But what do you need to build a risk scoring program that truly works? Join Holly Sais Phillippi and Michael Ramsbacker on June 5th at 12pm EST as they explore the key factors in creating and maintaining a strong risk scoring model for your organization. Register: https://lnkd.in/gR233AnD #aml #riskmanagement #riskscoring #amlcompliance

How can you get greater visibility into direct and indirect entity relationships to combat financial crime effectively? Enhance your detection and investigations with powerful Network Risk Analytics. Learn more: https://okt.to/SCpbBE Risk Analytics.pdf #AML #NetworkAnalytics #EntityRisk #CorrespondentBanking