Strengthening Risk Management Protocols: A Must for Bermuda’s Financial Institutions
Regulatory Pressures Intensify Compliance Risks
As regulatory pressures continue to mount, it has never been more crucial for Bermuda’s financial institutions to have a robust risk management framework in place. With the industry facing an increasingly complex and fast-changing landscape, organisations must be able to effectively manage the costs and risks associated with complying with new regulations and enforcement activity while seizing opportunities in the market.
KPMG Forensic Team: Expert Assistance for Financial Institutions
KPMG’s Forensic team provides expert assistance across a broad spectrum of regulatory compliance services, helping financial institutions proactively improve their programmes or reactively respond to regulatory orders. Our professionals offer guidance on addressing key areas of compliance programme improvement sought by the financial community in today’s marketplace.
Services Offered
Our team offers a range of services designed to help Bermuda’s financial institutions navigate the complex regulatory environment, including:
- Anti-Money Laundering and Anti-Terrorist Financing (AML/ATF) and Sanctions Compliance: Independent audits, gap analysis, programme design and implementation, remedial services, training programmes, and assistance with regulatory inspections and requests.
- Anti-Bribery and Corruption Compliance: ABC risk assessments, policy design, training programmes, and support for investigating potential issues.
- Fraud Risk Management: Assessment of fraud and misconduct risk exposures, programme design, and anti-fraud training.
Expertise in AML/ATF and Sanctions Compliance
Our expertise in this area helps clients identify, manage, and mitigate their AML/ATF and Sanctions risk exposures in line with legislative requirements and industry best practices. Our team is well-equipped to provide guidance on:
- Programme design and implementation
- Remedial services
- Training programmes
- Assistance with regulatory inspections and requests
Expertise in Anti-Bribery and Corruption Compliance
Our team offers insights gained from extensive experience in conducting high-profile investigations, providing assessment of fraud and misconduct risk exposures, programme design, and anti-fraud training. Our expertise includes:
- ABC risk assessments
- Policy design
- Training programmes
- Support for investigating potential issues
Importance of Proactive Risk Management
With increasing regulatory pressures and compliance risks on the horizon, Bermuda’s financial institutions must be proactive in strengthening their risk management protocols to protect their reputation and assets. KPMG Forensic team is well-positioned to provide expert guidance and support to help organisations navigate this complex landscape.
Conclusion
In today’s fast-paced and increasingly regulated environment, it is essential for Bermuda’s financial institutions to have a robust risk management framework in place. By partnering with KPMG Forensic team, financial institutions can proactively improve their programmes, respond effectively to regulatory orders, and mitigate compliance risks.