Risk Assessment & Methodology
This service is critical for:
Start-ups and New Registrants: Businesses developing their first AUSTRAC-mandated Risk Assessment from the ground up.
Entities Facing Change: Organizations undergoing significant shifts, such as new product launches, market expansion, mergers & acquisitions, or rapid growth, that render their existing risk assessment obsolete.
The Proactive Compliant Entity: Businesses whose risk assessment is a static, 'tick-box' document rather than a dynamic, living framework that actually informs business decisions and resource allocation.
Those Preparing for an Audit: Entities that need to demonstrate that their entire AML/CTF program is built upon a robust, well-documented risk assessment.
Our Process:
We believe a risk assessment should be a practical business tool, not a theoretical document. Our methodology is collaborative and comprehensive:
Business Model Deep Dive: We start by immersing ourselves in your operations to understand your customers, the services you provide, delivery channels, and geographies.
Framework Design: We design a tailored risk assessment methodology and scoring matrix that reflects your specific business environment and risk appetite.
Data-Driven Analysis: We work with your data to identify, assess, and categorize your inherent ML/TF risks, considering likelihood and impact.
Control Environment Mapping: We analyse your existing controls to determine your residual risk—the risk that remains after your current mitigants are applied.
Documentation & Integration: We produce a clear, defensible report and, crucially, help you integrate the findings into your AML/CTF Program, ensuring your controls are directly targeted at your highest risks.
Tangible Outcome:
Engaging us for yours: risk assessment provides:
The Foundation of Your Program: A fully documented, AUSTRAC-compliant risk assessment that justifies every subsequent control and policy you implement.
Strategic Clarity: A data-informed understanding of your true risk hotspots, allowing you to allocate compliance resources wisely and efficiently.
Confidence in Decision-Making: A clear framework to evaluate new customers, the services you provide, and strategic opportunities through a proven risk lens.
Audit & Regulatory Ready Documentation: A robust document that demonstrates a mature, risk-based approach to compliance to any external reviewer.