Compliance and Anti Money
Laundering Seminar
2nd Annual Compliance and Anti Money Laundering Seminar
23 March 2010 – Riyadh, KSA
Panel Session: Compliance Risk Assessments - purpose & mechanics
Susan McAll, Lloyds Banking Group
THE BENEFITS OF COMPLIANCE RISK SELF
ASSESSMENT
 Compliance Risk and Self Assessments are a core
component of a risk management framework
 Line management own the assessment and are
reporting on the operating effectiveness of their key
controls
 The assessment frequency is tailored to the inherent and
residual risk level and the business’s risk appetite
 Control failings are identified and remedial action taken
and monitored
 Allows control design to be re-considered and updated
THE BENEFITS OF COMPLIANCE RISK SELF
ASSESSMENT
An effective compliance risk self assessment process will
help financial institutions:  To satisfy their customers
 To satisfy their shareholders
 To satisfy governments and the regulators
 To grow their business and achieve strategic and
business objectives
 To manage their current business risks