Designing effective anti-money laundering programmes presents organizations with a complex and multi-faceted challenge.
The 4th money laundering directive has placed great emphasis on the deployment of a risk based approach, and this means that organizations need to have the right data, systems and expertise to understand the risks they are exposed to in order to be able to meet their regulatory obligations. Developing the right skill sets, procedures and tools whilst retaining commercial efficiency is difficult.
Shoulder Compliance can provide expertise with the development and implementation of business and customer risk assessment methodologies, data quality and remediation programmes, policies and procedures, assurance programmes, monitoring of outsourced providers, and testing of anti-money laundering technologies such as name and payment screening tools.
The increased use of financial sanctions by governments world wide as a political tool has resulted in their becoming one of the fundamental pillars of financial crime programmes.
With many of the most significant penalties imposed by regulators being the direct result of failure to abide by sanctions programmes, and resultant pressures throughout financial networks, every anti-financial crime programme needs to cater for sanctions compliance. However the complex and fragmented sanctions landscape as well as the significant number of entities which require monitoring makes sanctions compliance difficult and cumbersome. Name screening practices, for example, can create significant workloads without yielding improved compliance outcomes, if incorrectly deployed.
Shoulder Compliance assists clients with the development of effective sanctions policies, tool selection and testing, as well as staff training.
Insider dealing and other forms of market abuse are some of the more challenging financial crimes for compliance programmes to detect and mitigate.
In particular, an effective anti-market abuse programme requires detailed and readily available transaction and market data, appropriate monitoring tools and procedures, and robust corporate culture and controls. Regulators across the globe have been investing heavily in systems and personnel, increasingly gaining the ability to detect and prosecute misbehavior. Private sector operators likewise need to strengthen their compliance programmes in order to demonstrate compliance with the required standards.
Shoulder Compliance provides assistance with the development and/or selection of appropriate monitoring systems, as well as the deployment of market abuse specific rule sets. We also support businesses with the development of appropriate policies, internal governance structures and training plans.
Anti-Bribery and Corruption
Bribery and corrupt practices both have significant adverse impacts on the performance and effectiveness of organizations.
In addition to reputational risk, bribery and corruption can lead to inefficient business decision and practices that lead to deteriorating financial results.
Moreover, regulators are increasingly introducing legislation with extra-territorial application such as the US FCPA and the UK Bribery Act, resulting in greater scrutiny of business practices. Shoulder Compliance assists clients with the development of effective ABC programmes, including third party onboarding processes, personnel training, and investigations.
3 steps to get started
Schedule a no-obligation call with us. We’ll get to know each other, and figure out how we can best enhance your compliance capabilities.
Finding a solution
We’ll provide a tailored solution to your requirements, as well as a fair pricing structure that reflects the volume and complexity of your needs.
You can now focus on running your business, because we’re here to make sure your compliance gets done, and gets done right.
What they've said about us
We take pride in the trust that our clients have shown us over the years. This is what they have to say:
“Shoulder not only understood our business and issued related to it very well but also brilliantly structured the arguments and cleverly used the legislation to support them.”Anna AvraamXcoins
“The attributes that characterise Charles, as a professional and as a person, are integrity, trust and knowledge. I cannot recommend Charles and his team enough - you will not regret working with them”Fran MoisaFounder, FM Search
“The Shoulder team has always been there for us for any support or advice we required. Their commitment and professionalism is second to nobody, whilst their advice is always spot on.”Reuben PortanierPartner Advisory and Compliance, GTG
“The Shoulder team is very attentive to detail and very responsive when I have a query. Keep up the good work and looking forward to doing more business with you all.”Matthew MuscatFranchise Owner, Ben Estates Quad
“Shoulder proved to be a very efficient solution to our compliance and regulatory requirements. I was genuinely impressed by their accuracy on compliance matters and efficient turnaround time.”Katrina AbelaFounder, VAIA Legal