Products & Services
The number and scope of compliance regulations have increased dramatically in the last few years, making banks and insurance companies focus more on how to protect their reputation and this made compliance an ever-complex business, and had a big impact on how the business conduct their business.To be successful, banks should be very serious about compliance, and also serious about process and data quality as at the core of any reliable compliance program is consistent and quality data.
Ideally, a bank’s compliance framework will provide structured procedures, quality management, and matching staff capabilities as part of an all encompassing enterprise compliance and case-management solution.
We in HFFC can assist your organization in meeting demanding regulatory requirements by:
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Minimize Risk
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Protect your business
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Meet your Compliance objectives
We can help banks, as they maintain compliance with heightened regulatory requirements and related issues including:
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Regulatory examination readiness and remediation
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Establishment of Compliance management committees
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Reporting responsibilities to the regulatory authorities
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Conducting compliance gap assessment
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Building effective compliance programs including writing Compliance policy and procedures.
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Examine current processes, prioritize objectives, and determine the optimal Compliance program deployment plan.
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Designing compliance monitoring framework.
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Designing Compliance reports/Dashboard.
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Conducting and delivering Regulatory Compliance training courses.
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Designing a Compliance risk assessment methodology.
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Designing Know your customer profile.
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Coach and train on how to detect Money Laundering activities.
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Build regulatory controls in the Product and services process and procedures.
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Develop Compliance and Anti-Money Laundering policies and Compliance Codes.
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Designing compliance and AML awareness plans and material.
Streamlining operational and back-office business processes to create efficiencies and reduce costs.
During our compliance assessment, we revisit the business processes to ensure the appropriate controls are included, and all the regulatory instructions are embedded in the business processes and procedures, we also ensure that the processes followed are streamlined, efficient and increase service quality and meet customers expectations.
Regulatory examination readiness and remediation
Tightened regulatory requirements make it increasingly important for any issues arising from regulatory examinations to be addressed thoroughly and promptly. We assist banks with remediation issues noted in regulatory examinations. This assistance includes participating in the development of remedial action plans and testing to determine whether issues have been addressed properly.
Compliance & AML training.
Training is becoming an integral component of a modern Compliance training. Banks and insurance companies are required to undertake training programs for their staff, employees, including senior management and directors.
Our training courses address the fundamental questions raised by banks concerning its key compliance educational needs and risks. Our training courses adequately address the bank’s key compliance risks.
We design training courses for executive and senior management, front and back office staff, Treasury, in addition to specialized compliance training for the compliance and AML staff.
We provide six categories of training,
ü Generic training… focuses on laws and regulations that affect all staff, regardless of the function.
ü Regulatory-specific… focuses on key specific SAMA regulations, that all staff working in the business divisions should be aware of, these courses provide a greater understanding of the banking and the consequences of failure to comply with those rules and regulations.
ü Code of Ethics and Compliance Codes…focuses on standards of business conduct and address ethical conflict and situations, such as conflict of interest, gifts, financial integrity.
ü Anti-Money Laundering training for new hires, awareness programs for the back office, and detailed training for branch staff, with cases studies, and how to report suspicious transaction to the regulatory authorities.
ü International & Domestic sanction and how to prepare the needed controls in your procedures and systems.
ü Know your customer, how to prepare a customer acceptance policy and apply enhance due diligence on high-risk customers, in addition to how to prepare a risk assessment on your product and services.
