transaction monitoring assurance

Transaction Monitoring Assurance

SQA Consulting are experts in transaction monitoring. We know what good looks like and we can tell you how your TM shapes up.

At SQA Consulting, our team is battle-scarred from implementing, operating & reviewing transaction monitoring (TM) systems & frameworks.

Effective TM is essential to be able to know if your customers are using your services, systems or products for illicit activity. Our team can help firms understand the strengths & weaknesses of their TM systems & the wider processes & controls that should work together to provide a robust control environment.

We use our TM Maturity Model to check how a firm’s TM framework measures up to the benchmarks that a regulator might expect. This includes:

  • Policies & Procedures
  • Alert Management, Escalation, Investigation & Workflow
  • Governance & Management Information
  • Quality Control, Quality Assurance & Compliance Oversight
  • Resourcing, Training & Communications
  • Systems & Business Continuity

TM rules are at the heart of any automated TM system. How can a firm know if their TM rules will protect them & identify suspicious activity? We can produce a heat map showing how a firm’s set of rules measure up to the firm’s financial crime risks.

This will identify risks which aren’t addressed by the rules & rules that don’t address any of the rules. A firm can use this analysis to strengthen the TM rules & reduce irrelevant alerts.

Find out how we can help you with transaction monitoring by getting get in touch at aml-prevention.services@sqa-consulting.com 

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