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Monitoring and Reporting

Compliance Consultancy Central Compliance Monitoring and Reporting

monitoring and reporting for financial institutions
Business monitoring and reporting is a continuous exercise that can save time and financial resources and ultimately improves organisation processes and operations.


As a financial institution falls under the scope of AML/CFT regulation, it must take appropriate measures to monitor on an ongoing basis financial relationships and transactions involving a high risk of money laundering or terrorist financing in order to identify suspicious dealings.
Appropriate actions can be either manual or automated processes, or a combination of both, depending on your organization's means and corrective needs. They also depend on the size of your business and the risks you are exposed to.
Business Monitoring and Reporting chart

How to efficiently monitor data ?

You do not necessarily have to create or purchase an electronic system. You can use and build on your available resources and business processes.
Your company's policies and procedures must determine what type of monitoring needs to be performed in certain high-risk situations, including the detection of suspicious transactions.
The professional business vision linked with critical analytics on past performance should help to design enhanced workflow mechanisms. Historic qualitative data might be the key to identifying figures that will help get a sense of what is at stake and properly evaluate previous methods.

The technical or operational aspect is also essential. Should you lean on experienced colleagues with standard desktop utility software? It depends on the scale of your structure. For more prominent firms, the necessity of combining operations with security often leads accountable managers to delegate the development of a monitoring system to an experienced technical team.
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