Creating a Risk Matrix That Works for You.

Verifying all customer data is less feasible than ever in today’s globalized market, so compliance officers are opting increasingly for a risk-based approach to reducing operational exposure. A risk-driven strategy enables businesses to assess the real-world dangers they face and helps them to avoid sanctions. But many institutions are puzzled by how to craft the tool that is vital to such assessments, a risk matrix. The matrix must be easily shared internally, be transferable across business lines, and incorporate vital questions about customer profile, product line and expected behavior. The session will explain how to design a risk matrix, and will take the confusion out of risk-rating so you can lead your company to a new level of sophisticated compliance.

The Experts:

Micah Hallock, CAMS
Micah is a manager in the Corporate Governance Services practice area of Cohn Consulting Group, a division of J.H. Cohn LLP and has extensive experience in anti-money laundering risk, primarily in the financial services industry. Prior to this, Micah was a consultant with both Protiviti and Arthur Andersen LLP. In this role, he served as the project manager for a number of risk assessments for financial institutions of various sizes utilizing a risk methodology that was aligned with the various bank regulatory groups and based on the BIS Basel accord. Micah supervised AML reviews and enhanced due diligence reviews for several foreign branches and domestic banks in the US. He developed comprehensive risk management programs for banks with total assets in the $1 to $5 billion range. In addition, Micah spent five years as a bank examiner for the Office of the Comptroller of the Currency.

Heli Leesment, CAMS
Heli is currently responsible for global AML Compliance strategies and initiatives for RBC Financial Group. Some key initiatives Heli has developed at RBC include: RBC's AML risk assessment program, the AML Country Risk Assessment model, the Client Due Diligence and Anti-Terrorism Policies, the AML Detection System and Control List Filter Solution, an AML training program, and RBC's annual self-assessment to Senior Management and Board. She was also instrumental in the development of an enterprise global AML Client Risk Scoring Methodology and System. Heli received her law degree from the University of Windsor, and after that time, she commenced working for RBC Financial Group and has held several compliance, legal and risk management positions within RBC since then.

Recorded: August 16, 2006

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