PRACTICAL GUIDE · 3 MIN READ
Review the relationship as it is today
A file that accurately described a relationship at onboarding may no longer reflect its activity. Compare the current operating reality with the information held.
Define what triggers a review
Changes in ownership, control, markets or transaction patterns can be a reason to revisit the profile. Define responsibilities and agreed review intervals according to the relationship and its risks.
Record the follow-through
Screening only helps when potential matches and exceptions are reviewed and decisions are documented. Keep unresolved information requests visible to the people responsible.
Connect compliance and banking
Current records can help a business respond coherently to bank questions. The appropriate controls and any legal obligations should be assessed for the specific business and activity.
General information to help prepare a business discussion. The relevant institution determines its requirements, approvals and product terms.
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