Well-implemented risk assessment programmes are the best way to help your organisation determine how to focus valuable resources. Oyster Consulting (Bermuda) has the experience and expertise to work with you to gain an in-depth understanding of the risk profile for your organisation and implement actionable steps to improve your controls.
Oyster Consulting can provide the following services:
- Conduct quantitative and qualitative reviews of your products, business practices, policies, technology, and structure.
- Determine the probability and potential severity of risk events.
- Develop a risk matrix to focus your attention on items that deserve the most attention, conduct a cost benefit analysis for implementing mitigating controls, and create efficient and effective solutions to help you manage your control environment.
- AML/ATF risk assessment procedures including KYC procedures and risk rating of client files.
- Explore use of technological tools to assist in the KYC process
- Examine the risk rating process for potential enhancements to ensure proper risk sensitivity
- Ensure robust procedures are in place to establish identity of beneficial ownership
The Oyster Difference
Oyster’s depth and breadth of industry experience provides significant insight when assessing risk. Oyster consultants combine their knowledge to provide a unique point of view of operations, trading, technology, finance and regulation. Oyster can assist you with identifying and ranking the risks associated with the types of business at your firm and, in addition, will provide recommendations for policy and procedural enhancements to achieve industry best practices for efficiently controlling those risks.