• Take a look at the heart of the AML/CFT Health Check

    The main assessment screen is at the core of the AML/CFT Health Check and is where the main compliance assessment is performed.

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The world’s first dedicated online AML/CFT compliance assurance monitoring solution

Track compliance against obligations, manage actions, issues and risks and obtain big data analytic insights on compliance data!

Main AML/CFT Health Check Assessment Screen

About the AML/CFT Health Check

The main assessment screen is at the heart of the AML/CFT Health Check and is the primary place where the status of the AML/CFT compliance program is assessed against each compliance obligation.

The main AML/CFT Health Check Assessment Screen is used for:

  • Navigating around AML/CFT obligations
  • Quick links to other AML/CFT Health Check features
  • Assessing the compliance rating against regulatory obligations
  • Soliciting responses from across the organisation
  • Adding or linking items (actions, issues and risks)
  • Adding attachments as supporting evidence
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Group is the term used to describe the chapter heading of the AML/CFT obligations.

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Category is the term used to describe the chapter sub-heading of the AML/CFT obligations.

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Regulatory line item is the term used to describe the AML/CFT compliance obligations that must be met.

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The (i) symbol indicates that there is some additional guidance / information related to the regulatory line item which once clicked will be revealed.

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The Reference and Sub-Reference fields provide the linkage back to the AML/CFT obligations which provides full traceability of the independent review process back to specific compliance requirements.

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The Response field is either free-text or yes/no and can be used by the organisation to provide a self-assessment of whether current systems, procedures or controls meet the required AML/CFT standards, prior to the audit teams verifying this during the formal audit process.

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The Compliance Rating field is reserved for the auditor who based on their professional assessment of the organisations compliance with AML/CFT obligations will form a view about whether this meets the compliance expectations or not.  This is typically achieved through performing control tests, desk based interviews, system walkthroughs, document reviews or other means.

The terminology used in the Compliance Rating section is configurable by Company Administrators, which has the effect of changing the data analytics across the AML/CFT Health Check platform.

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The Comments field is also reserved for the auditor so that they can document the rationale for assessing the compliance rating in the way that they have and for documenting observations and suggested actions that the organisation could take to close noted compliance gaps.  The auditors comments are date/time stamp and a full audit trail is retained.

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The Management Response field is reserved for the organisation being audited and is typically used to provide a response to the auditors comments, where required.  This field can also be used to solicit responses from other users across the organisation, which creates an item for the attention of the assigned user.  Again, comments are date/time stamp and a full audit trail is retained.

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The Item column is used for either creating new items (i.e. actions, issues or risks) which are required to be undertaken to close any identified AML/CFT compliance gaps or for linking previously created items.  These are then tracked within the real-time Operational Dashboards.

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The Attachments column is used to attach any related documents, for example, control test inputs and outputs or supporting documentary evidence that provide additional information related to the AML/CFT obligation assessment.

Creating a full audit trail

The AML/CFT Health Check contains a full audit trail of:

  • Comments
  • Management Responses
  • Recent Activity
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A full history of Comments is retained with the name of the person making the comment and the date / time stamp when the comment was made, which provides full transparency of the internal workings of the independent review.

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A full history of Management Responses is also retained with the name of the person making the comment and the date / time stamp when the comment was made.

Field level change tracking is also available by clicking the Recent Activity button which displays information on every change within the current AML/CFT Health Check.

Navigating around the AML/CFT obligations

Most AML/CFT rules, guidance and laws expands to hundreds of different compliance obligations, so we designed the navigation bar at the top to make it really easy to search and navigate around the AML/CFT Health Check based on the following search criteria.

  • Keyword(s)
  • Compliance Rating
  • Management Response Owner
  • Attachment
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Enter keyword(s) to search on.

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Filtering by Compliance Rating will return only the AML/CFT obligations with the selected rating, for the selected Group / Category.

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Filtering by Management Response Owner will return only the AML/CFT obligations with the selected end user, for the selected Group / Category.

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Selecting the Attachment tick box will return only the AML/CFT obligations with attachments, for the selected Group / Category.

In addition, the navigation bar allows users to jump around the AML/CFT obligations by filtering these by Group (i.e. chapter) and Category (i.e. sub-chapter).

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The Group dropdown displays all of the chapters of the AML/CFT obligations based on regulatory guidance of the countries AML regime being assessed.

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The Category dropdown displays all of the sub-chapters of the AML/CFT obligations.

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Reference Documents links to users to any internal documentation loaded to support the independent review process, for example, guidance to auditors on auditing AML/CFT Programs, links to regulators websites or other guidance etc.

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Audit Checklist links the user back to the audit checklist where supporting evidence can be requested and attached.

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Recent Activity links the user to a full audit trail of everything that has happened within the AML/CFT Platform for the current AML/CFT Health Check.

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Create Draft Report links the auditor to the report writing capability within the AML/CFT Health Check.

Alternatively, users can navigate through the AML/CFT obligations methodically using the First, Previous, Next and Last buttons in the footer of the main assessment page.

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Returns the user to the Context section, where general comments can be added about the context of the AML/CFT Health Check which appear in the final report.

Quick links to other AML/CFT Health Check features

The buttons on the main search navigation bar include:

The AML/CFT Health Check contains a feature allowing users with Company Administrator level access to add documents or document links to the application which are then accessible to all end-users associated with the Company account.

For example, this could be used to upload regulatory guidance, internal policies and procedures, such as internal audit standards, control testing worksheets and so on.

The Audit Checklist feature within the AML/CFT Health Check provides a list of suggested documents that could be requested as supporting evidence to accompany the independent review.

There are over 100 out-of-the-box suggested documents that can be requested by internal auditors.

In the next release of the AML/CFT Health Check we plan on enhancing several features in relation to the Audit Checklist feature including:

  • Ability to create customise Audit Checklist templates
  • Ability to solicit supporting document requests from external third party users
  • Ability to create customised emails which will send a unique link to external third party users
  • Email notification to auditors when external third party users have uploaded documents into the audit checklist

Once the AML/CFT Health Check assessment has been completed a draft or final report can be written and published as a PDF snapshot, this includes:

  • A cover page providing key details of the AML/CFT Health Check (i.e. name, industry sector, review periods etc.)
  • Context behind the AML/CFT Health Check (i.e. nature, size and complexity of the business)
  • Executive summary comments (i.e. executive comments, key observations from the AML/CFT Health Check)
  • Key Actions and Issues and any associated commentary
  • Key Risks and Controls and any associated commentary

Link existing items / add new items

The AML/CFT Health Check allows users to either create new items (e.g. actions, issues and risks) or add existing items and link these directly to a regulatory line item. This is a great way of tracking and managing activities that have been identified to close any gaps identified against a particular AML/CFT compliance obligation.

The detail that sits behind each item can easily be viewed either via the ‘hover’ feature which provides a description of the item title or by clicking the hyperlink, which will take users directly to the item of interest.

Finally, the Operational Dashboards feature provides real-time analytics on the status of all items (e.g. open, in-progress, on-hold or closed) at any given point in time which can be downloaded to a PDF and easily shared with colleagues.

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