Additional Services

Compliance Officer Professional Coaching

ComplianceAid offers coaching and mentoring services for Anti-Money Laundering Compliance (Reporting) Officer (MLCO/MLRO). We work one-on-one with FI/DNFBP Compliance personnel to ensure they have the required skills and knowledge to develop, implement and maintain a risk-based AML/BSA/OFAC/CFT/CFP/FCP Compliance Program. Our SMEs provide valuable guidance on how to develop and maintain strong communication and reporting lines with the Board of Directors/ Business Owners who are ultimately responsible for the AML/BSA/OFAC/CFT/CFP/FCP Program of a regulated entity.

KYC Remediation/Look Back

ComplianceAid assist Financial Institutions and Designated Non-Financial Businesses and Professions with meeting their regulatory Know Your Customer (KYC), Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) obligations under AML/BSA/OFAC/CFT/CFP/FCP laws and regulations. Our team will work your FI/DNFBP personnel to ensure all customers’ files are up to date and in line with regulatory standards. A strong KYC Program is vital for regulated entities to ascertain they are not engaging in business with customers who may be involved in criminal activities; money laundering, fraud, corruption, human trafficking or terrorist financing.

Enhanced Due Diligence (EDD)

Seeking to do business with potentially high-risk customers or to be involved in large, financial transactions, which may give you pause? ComplianceAid with the benefit of the extensive expertise and experience of our team and strategic partners is the company to undertake your Enhanced Due Diligence (EDD) instructions. Our EDD investigations are robust, far reaching and provide a significant level of detailed scrutiny of your prospective business partners and/or any potential deals with the utmost discretion and in the strictest confidence. ComplianceAid’s EDD reports are thorough and reliable and cover identification and verification of new parties, physical and official address checks, adverse media, negative profile, financial transactions, money deposits, source of funds, source of wealth and ultimate beneficial owners.

Regulatory Exam Preparation

ComplianceAid assist Regulated Entities with preparing for their independent and external AML/BSA/OFAC/CFT/CFP/FCP Audit. Our team of SMEs provides assistance to ensure an Institution AML/BSA/OFAC/CTF/CFP/FCP program entails all the key components identified by the country regulators as crucial for an effective Anti-Money Laundering (AML), Bank Secrecy Act (BSA), Office of Foreign Assets Control (OFAC) & Countering the Financing of Terrorism (CFT) program.

Advisory and Intelligence Services

The increasingly onerous demands on a country’s limited resources in a fast paced and ever changing global regulatory and donor environment, require a detailed, and accurate appreciation of the global political, economic, and financial G 7 and G20 agenda. ComplianceAid capacity to interpret and articulate the implications of these international imperatives and to formulate cogent responses on a rolling basis, as evolving circumstances dictate, would be valuable in protection of national interests.

Enterprise Risk Management (ERM)

ComplianceAid assist Financial Institutions (FIs) with formulating a comprehensive Enterprise Risk Management framework consistent with international best practices thereby, minimizing the effects of risks on the FIs’ capital and earnings. Using modern techniques ComplianceAid empower our clients to successfully pursue their corporate strategy and objectives of generating and safeguarding value for the benefit of their owners, management, employees, customers, regulators, and the public at large.
ComplianceAid will ensure that clients develop and sustain a collaborative, proactive work environment that is laser focused on identifying, assessing, mitigating and monitoring the nature, extent and likely impact of potential risks and opportunities, be they strategic, reputational, financial or operational, and determining and deploying appropriate responses, in real time.

Corporate Governance & Ethics

Working closely with your Board of Directors and management ComplianceAid will assist you to build and maintain a strong, responsible corporate profile based on high levels of adherence to all internal and external laws, regulations, principles and processes for the oversight, operation, regulation and control of your business, in the best interests of its shareholders, directors, management, customers, suppliers and government regulators. ComplianceAid also assists businesses to embrace and hold officials accountable for the adherence to accepted standards of morally decent and ethical behaviour in their day-to-day operations, as part of its corporate culture.

Internal Control & Fraud Prevention

ComplianceAid has expertise and extensive experience in guiding management in the establishment, operation, monitoring and reporting on internal control systems that can easily adapt to new organizational priorities, evolving risks and changes in the economic and business climate, and ensure that your corporate objectives are being achieved. ComplianceAid will assist your organization to develop internal policies and procedures that will protect the assets of the enterprise from being dissipated or devalued through mistake, fraud, theft, embezzlement or misappropriation by senior officers or junior employees.

Business Continuity Program (BCP)

Every company should have a Business Continuity Program (BCP), and the COVID-19 pandemic is just another reminder to us of the importance of ensuring our BCP is up to date and addressing, managing the risks to your respective entities. At ComplianceAid , we assist companies with developing, enhancing, and implementing policies, procedures, systems of preventive controls, and recovery from potential threats to a company.

FATCA/CRS/QIs

ComplianceAid offers guidance and resources to assist Financial Institutions with meeting their obligation under the Foreign Account Tax Compliance Act (FATCA) and the Organisation for Economic Cooperation and Development (OECD) Common Reporting Standard (CRS) and Qualified Intermediary (QI). We have developed methodologies to help assess, design and implement for a successful FATCA/CRS integration program. Each program is tailored to the specific needs of the Institution. Our services include development/enhancement of FATCA/CRS policies and procedures, training, audit advisory services and solutions.

Each of these programs are tailored to the specific needs of FIs.

• FATCA Portal Registration
• Reporting Certification & Withholding Issues
• Resolution & IRS Representation in all FATCA issues
• FATCA, CRS & QI Help Desk
• FATCA Policies, Procedures & Client Documentation
• FATCA, CRS & QI Training & Implementation Workshops
• FATCA Audit Plan & External Periodic Reviews of Compliance
• Annual FATCA Regulatory Updates

De-Risking

ComplianceAid assist Financial Institutions with identifying and obtaining Correspondent Banking Relationships (CBRs). At ComplianceAid we assist FI’s in meeting specific regulatory obligations in connection with maintaining their correspondent relationships. ComplianceAid also provide re-risking services by ascertaining Institutions have in place good compliance structures, strong internal processes, systems and a robust AML/BSA/OFAC/CFT/CFP/FCP Program.

General Data Protection Regulation (GDPR)

ComplianceAid will assist your entity to understand and comply with the European Union’s (EU) General Data Protection Regulations (GDPR) which is the legal and regulatory framework for the collection, processing and anonymization of personal information from individuals who live in the EU and the flow of that personal data outside the EU. The attendant guidelines are applicable to all websites that attract European visitors and entail mandatory assessments of data security and notification and disclosure obligations in the event of breaches. ComplianceAid will confidently guide your enterprise through the complexities of these EU regulations and towards compliance.