Frequently Asked Questions
What is Management Oversight?
Last Updated 8 years ago
A Risk Assessment and Customer Due Diligence can be Non-Compliant for a number of reasons which could include: insufficient independent data being available to confirm the Client's Identity or the Client appears on a Financial Sanctions or other alert data source.
You will need to be an Administration User to resolve Non-Compliant Risk Assessment results using our Management Oversight tools:
- Search your CDD Records for the Client in question.
- Select the Non-Compliant Risk Assessment from the Client's CDD Record.
- You will see summary of the Risk Assessment result.
- Under the Warnings & Alerts section it will be clear why the Risk Assessment is Non-Compliant, with one or more sections highlighted.
- Use our Management Oversight tools below to update the data and status of this Risk Assessment.
- Select "Resolve Assessment Result".
Resolving a Risk Assessment results enables you, using additional information obtained from the Client, another professional, AML Search V4.0 Support or your own investigations, to satisfy warnings and alerts and update the Risk Assessment accordingly.
You will be presented with a selectable option for each warning or alert.
You will also be able to record the reasoning behind your decisions to resolve the warnings and alerts. Additionally, if you have used any additional documented information, you have the option to upload copies of the documents to fully evidence your decisions.
if you are unable to satisfy all of the Warning and Alerts now, you can return to the Risk Assessment later with additional information and Resolve the Assessment Result again, your changes will be saved. AML Search maintains a complete audit trail of all user actions.
There is no additional charge for using Management Oversight tools to resolve Risk Assessment results or the updated Risk Assessment.
Once complete, the full Client Data will then be Risk Assessed again, and the result of the Risk Assessment will be updated in the CDD Record.
You will need to be an Administration User to resolve Non-Compliant Risk Assessment results using our Management Oversight tools:
- Search your CDD Records for the Client in question.
- Select the Non-Compliant Risk Assessment from the Client's CDD Record.
- You will see summary of the Risk Assessment result.
- Under the Warnings & Alerts section it will be clear why the Risk Assessment is Non-Compliant, with one or more sections highlighted.
- Use our Management Oversight tools below to update the data and status of this Risk Assessment.
- Select "Resolve Assessment Result".
Resolving a Risk Assessment results enables you, using additional information obtained from the Client, another professional, AML Search V4.0 Support or your own investigations, to satisfy warnings and alerts and update the Risk Assessment accordingly.
You will be presented with a selectable option for each warning or alert.
You will also be able to record the reasoning behind your decisions to resolve the warnings and alerts. Additionally, if you have used any additional documented information, you have the option to upload copies of the documents to fully evidence your decisions.
if you are unable to satisfy all of the Warning and Alerts now, you can return to the Risk Assessment later with additional information and Resolve the Assessment Result again, your changes will be saved. AML Search maintains a complete audit trail of all user actions.
There is no additional charge for using Management Oversight tools to resolve Risk Assessment results or the updated Risk Assessment.
Once complete, the full Client Data will then be Risk Assessed again, and the result of the Risk Assessment will be updated in the CDD Record.