With the ever present threat of reputational risk stemming from money laundering and terrorist financing, it has become mandatory for Sagicor Finance to remain vigilant and compliant with regulations stipulated by our regulatory body, the Eastern Caribbean Central Bank (ECCB), along with our own domestic laws governing Anti-Money laundering & Combating Terrorist Financing (AML/CTF).
In order that Sagicor Finance mitigate against the risk associated with AML/CTF, we have successfully engaged the comprehensive services of ComplianceAid providing us the necessary training and education.
Searching for a reputable firm capable of providing the required training to our staff and simultaneously satisfying our AML/CTF compliance mandate, we were fortunate to be exposed to ComplianceAid by the Caribbean Association of Indigenous Banks (CAIB) who themselves had only recently contracted the services of ComplianceAid for delivery of training services to their banking members. Such a contractual assignment in itself confirmed the professionalism, knowledge, qualification, and high degree of competence of ComplianceAid as evident from the resumes of the consultants.
During the preliminary stages of contract negotiations and pre-training arrangements, the consultants were always readily available for discussion and responsive to our queries ensuring that both parties were clear on expectations and responsibilities. These efficiencies continued throughout the training session allowing for an effective delivery of service.
Having engaged the services of the consultants, we experienced not only a transfer of knowledge, but partnered in an interactive, interesting, and explicit session preparing us better in avoiding possible reputational risk to one’s own self and to our firm owing to non-compliance. Without changing the terms of reference to the contractual engagement, consultants were receptive to our request to review and evaluate our current AML/CTF Policies & Procedures providing us a “Gap Assessment” and corrective recommendations.
Acknowledging the constant changing environment in which we do business, and the necessity to be cognizant to the imposing risk within the industry, we would highly recommend the services of CompianceAid to any firm desirous to becoming AML/CTF compliant.
Rae Atkinson – General Manager - Sagicor Finance Inc – St. Lucia