Contrivance Database Design
The Contrivance Database is hosted in the cloud on a Microsoft SQL server distributed cluster for reliability, speed and security. Wherever you are in the world we are able to provide fast updates to your browser. There are three main areas in the Contrivance database which allow for the assimilation of interrelated data required to accommodate Enterprise Wide risk reporting. 1. The Objective Centre The Objective Centre captures information on different types of business unit
You only hear about tragedies
When it comes to those outside the circles of risk management, they only hear about the tragedies. What would be deemed newsworthy is generally only something materially significant, even though it is often only transitory. If an event is not spectacular enough or if it lacks 'Paparazzi Potential', very few people pay that much attention at all. This is not the way uncertainty unfolds. A class of randomness that is generally persistent for what it's worth and this fleeting so
Lines of AML Defence
If you were to assess whether a single bank staff member responsible for monitoring and controlling Anti-Money Laundering activities is effective in their job function, you could perform this assessment by asking the staff member six dependently and serially linked questions. Do you know what Anti-Money Laundering is? Have you attended formal training on AML? Do you believe AML is part of your job function? Have you read the AML policy for your institution? Do you know the di
The Auditor's Toolbox
We have been receiving a lot of requests for more information on our Auditor's Toolbox masterclass [LINK], taking in exactly what it is, the benefits of the program and the difference between this workshop and the Risk Based Audit training that we deliver. Firstly, the Auditor's Toolbox is not a toolbox in the literal sense, don't think of it as a plumber's bag loaded with spanners and hammers but more so a reference to the types of collective processes, models and techniques
Basel AML Report 2016
The free Basel AML Index report for 2016 was published [LINK] a couple of days ago and it seems on the surface that this year's scores appear to be inline with last years numbers, overall that is. Each country's index score is calculated from 14 indicators dealing directly with AML/CFT regulations, corruption, financial standards and the political disclosure of the country. When countries are presented in a ledger award system such as the Basel AML report, it is tempting to c
