Conducting an Initial Risk Review for Escalations

Summary

Learn how to perform the initial risk review when an onboarding or transaction is escalated to a Compliance Officer.

When to Use This

Follow these steps immediately after an escalation is assigned to you, to assess the situation and document your findings.

Step-by-Step Instructions

1. Open the escalated onboarding or transaction file.
2. Review the specific risks that triggered the escalation.
3. Conduct your risk assessment (e.g., investigating the source of funds).
4. Enter your findings and rationale into the review text box (for example, "I have investigated the source of funds and everything looks okay").
5. Add any supporting documents optionally.

Common Questions

What should be included in the review notes? You should clearly state what you investigated and your rationale for determining whether the risk is acceptable or not.

Troubleshooting Tips

Cannot find the details of the escalation? Ensure you are looking at the specific onboarding record that triggered the alert, as the potential risks should be listed there for your review.