Legl: Conducting Effective Matter Risk Assessments

As part of their AML firm visits in 2021, the SRA highlighted that many firms were not effectively managing their matter risk assessments. They found that in 33% of cases either there was no record or the assessment was considered incomplete or inconsistent with the firm’s practice-wide risk assessment.

In this session, we will be exploring:

• challenges firms face which result in incomplete, inconsistent or missing risk assessments
• an overview of the regulatory requirements
• how firms approach and capture AML vs wider matter risks
• best practices for driving towards 100% compliance through an integration of CDD, risk assessments, MLRO oversight and payments