The culture of compliance starts with the quality of the AML/CTF program design and effective implementation. We design and implement robust AML/CTF programs tailored to your business, ensuring compliance with regulatory requirements and industry best practices. Our programs are customised in accordance with your business' nature, size and complexity and are designed to ensure practical operational implementation of your program.

Arrow AML conducts comprehensive risk assessments to identify and mitigate financial crime risks. Our experience in financial crime typology development ensures we can identify the relevant financial crime risks in your business to ensure your risk assessment and program is aligned to these risks in accordance with regulatory requirements. We design and test effective risk controls, ensuring your AML/CTF program remains operationally effective.

Arrow is experienced in implementing risk assessments using the Arctic Risk Assessment platform or can provide design of a stand-alone risk assessment in accordance with the nature, size and complexity of your business.

We deliver solutions for uplifting and remediating your AML/CTF Program. This includes addressing recommendations arising from independent reviews or gap reviews. We are experienced in outlining optimal approach to remediate following an incident or issue. Our change management services guide you through the implementation of new processes, frameworks and improvements, ensuring a smooth transition and sustained compliance.

Our transaction monitoring services include gaps review to assess your transaction monitoring program based on criteria of: completeness; aligned to your risk assessment; and appropriate for your business given the nature, size and complexity. The transaction monitoring uplift process will reflect on the design, calibration, and optimisation of automated rules and manual processes. We provide advice relating to design or assurance of transaction monitoring programs as well as implement downstream processes to ensure effective enhanced customer due diligence and suspicious matter reporting processes are in place. Training and process reviews can be provided to enhance the effectiveness of your monitoring program, ensuring timely detection and reporting of suspicious activities.

Arrow AML offers independent reviews and assurance testing of your AML/CTF programs. Reviews are conducted in a transparent and cost-efficient manner with a personalised touch. Reviews provide an assessment of the operational effectiveness of your compliance measures, and articulate clear actionable insights and recommendations to enhance your financial crime risk management, in accordance with your nature, size and complexity.

Other assurance activities include governance framework design and review of functions within your business which is particularly useful for small-medium reporting entities who have small teams and are unable to effectively and independently review team activities at arms length.

We provide ongoing compliance consulting and advisory services, offering flexible, bespoke advice on Financial Crime Risk & Compliance. Our expert guidance helps you navigate complex regulatory landscapes, ensuring continuous compliance and strategic risk management.

Ongoing compliance advisory includes:

• consultancy for a defined project scope of work.

• resources outsourcing for any of your AML/CTF policy or operational functions.

• ad-hoc advisory.

• flexible package of hours to provide AML Compliance Officer support.

  (This is often suitable for small-medium reporting entities who require specialised expertise, over-flow, or back-fill of resources, or to provide support for a generalist-type AML Compliance Officer).

We have expertise in integrating and optimising financial crime systems and processes. We have experience working with a number of different vendor solutions across the AML/CTF spectrum.

Systems integration advisory includes guidance on appropriate settings for: Screening, KYC, Biometrics, Transaction monitoring, Reporting, GRC and Risk Assessment systems. Our approach ensures seamless integration with existing processes, and alignment to your organisation's risk appetite, AML/CTF program, regulatory requirements, and operational needs.

We recognise that AML/CTF processes do not occur in a vacuum. We can provide specialised advice to identify opportunities in designing efficient and robust KYC and AML/CTF processes which seamlessly integrate with your customer onboarding processes. Our focus is on helping to minimise customer onboarding friction while ensuring comprehensive compliance and enhancing customer experience.

We are adept in providing expert guidance for preparing Annual report submissions for AUSTRAC. We also provide preliminary or ongoing advice in regulatory engagement matters including actioning regulatory enforcement or compliance letters, preparation for AUSTRAC meetings, or assistance to respond to other regulatory or law enforcement requests for information.

We can provide customised training services that align with your AML/CTF program requirements and organisational needs. 

• Role-based training (design and delivery)

• Customise computer-based training modules

• Board & Senior Manager training

• Financial crime operational team training

• Typology identification and suspicious reporting

• Advisory & assurance of training program and completions