Updating service quality & risk management system
- The Board approves a new management approach, that processes development and sets risk mitigation as a constant task for all major departments.
- Starts an internal reform to update service quality and risk management processes.
- Major areas for improvement – client risk data management, operational risk management, strengthening remote customer identification, internal rules and procedures, growing internal functional teams.
- In cooperation with a third party, Wallter provides more attention to retrospective transaction analysis.
- A new automated risk evaluation system has started its operation.
- In June – July, the Board approves a new policy on customer onboarding procedure and new risk calculation rules. Also, approves two plans: one for seminars and competence building on money laundering and financing of terrorism and the second to strengthen its transaction monitoring procedures and AI tools dedicated to transaction monitoring. Moreover, it is appointed a new Board member responsible for AML/TF risk mitigation measures.