Financial Crime Risk Management
Protect your organization from risk by meeting challenges head-on.
The ability to detect and prevent money laundering and other illicit activities is a core component of an effective risk management framework and crucial for compliance. We help organizations of all sizes tackle the most complex AML, compliance, and risk management challenges – and come out ahead. Navigate the risk landscape, build sustainable programs, and meet regulatory obligations with action plans uniquely tailored to your needs.
Identify Gaps
These gaps are most frequently a combination of both operational and technical gaps. We review your compliance policies, procedures, datasets and software solutions so that you can prioritize efforts and resources to address gaps and mitigate associated compliance and crime risks.
Improve matching & reduce inefficiency
By shedding light on blind spots, outdated processes, stagnant data, and avenues for incorporating fresh insights directly into analysts’ and decision-maker’s workflows, you can significantly enhance your capability to pinpoint crucial and undesirable occurrences and connections within your client base, leading to tangible improvements in your overall performance. By avoiding distraction caused by non-productive alerts, immaterial, or outdated risk profiles, you will avoid the false-positive and false-negative indicators of financial crime risk within your organization. Better data and analysis processes will produce more actionable outcomes, while avoiding time wasted on inconsequential results from outdated systems and processes.
Optimize processes & systems
Over time data becomes stale, processes become less effective, client patterns of behavior, relationships and profiles change. Optimizing your organization’s processes, procedures and the technology that supports them, can yield huge savings and generate new opportunities to work with growing and healthy customers, while reducing exposure to financial crime. Looking at how data flows through your organization and to the teams that rely on insights provided by effective analysis, very often we are able to determine where additional data elements can be applied, and reduce others which may mask important clues as to where risk exposures may lie. Small tweaks and improvements in the processes and systems in place within your organization, often yield tangible benefits when they are needed most.
Detect and prevent financial crime
Building new revenue opportunities and meeting company goals often mean exploring previously unknown territory. Understanding what risks may exist within these territories is critical to manage them effectively. Starting with identification of red-flags associated with areas of risk, we work with our clients to develop assessment programs and processes that ultimately improve the capacity to detect and prevent potential financial crime events.
Establish robust AML technology frameworks
Effective AML Programs require an understanding of the relationship between operational tasks, data and analytical solutions, and must rely on strong methodologies for understanding and managing a robust framework for financial crime risk management. Oxonia works with clients to improve existing methodologies and frameworks, or to bring tested and reliable ones when they are not already in place.
