Regulatory Compliance in Bermuda: A Must-Have for Financial Institutions
As regulatory pressures continue to mount in Bermuda, it has never been more crucial for financial institutions to have a robust compliance program in place. With reputations and assets at stake, organisations must effectively manage the costs and risks associated with complying with new regulations and enforcement activity while still seizing opportunities in today’s fast-paced market.
KPMG Forensic: Your Partner in Regulatory Compliance
The KPMG Forensic team offers comprehensive regulatory compliance services to assist financial institutions in achieving this goal. Whether proactively seeking to improve their program or reactively responding to a regulatory order, KPMG professionals provide expert guidance to address the key areas of compliance program improvement prioritised by the financial community today.
Services
Our services encompass:
Anti-Money Laundering and Anti-Terrorist Financing (AML/ATF) and Sanctions Compliance
- Reviewing existing compliance programs
- Transforming them for the future
- Addressing regulatory inquiries and scrutiny
- Identifying, managing, and mitigating AML/ATF and sanctions risk exposures in line with legislative requirements and industry best practices
Independent Audits and Gap Analyses
- Conducting independent audits of AML/ATF and sanctions compliance programs
- Performing gap analyses of specific components of such programs
Design and Implementation
- Designing and implementing AML/CFT programs, including:
- Policies and procedures
- Business risk assessments
- Customer risk assessments
- Sanctions risk assessments
Remedial Services and Training Programs
- Providing remedial services for AML/ATF and sanctions compliance issues
- Offering training programs aimed at various levels of staff
Regulatory Support
- Assisting with responding to regulatory inspections and requests
- Seconding KPMG employees to fill AML/ATF and sanctions positions within clients’ organisations
Expertise in Anti-Bribery and Corruption (ABC) Risk Management
We also offer expertise in anti-bribery and corruption (ABC) risk management, including:
- Developing effective ABC risk management strategies
- Conducting testing to ensure compliance frameworks are robust and fit for purpose
- Providing support for investigating potential issues
Fraud Risk Management Services
Our fraud risk management services include:
- Assessments of fraud and misconduct risk exposures
- Design of effective ethics and compliance programs
- Anti-fraud training programs
With extensive experience in conducting high-profile fraud investigations, our fraud risk management professionals offer valuable insights to help organisations manage their fraud risks effectively.
Contact Us for Expert Guidance
For the latest insights on regulatory compliance in Bermuda, financial institutions can turn to KPMG Forensic team for expert guidance and support. Contact us today to learn more about our comprehensive range of services.