Relationship Approval
Last updated
Last updated
A marking the approval of a by a senior team member, appearing as part of the .
Once the team is happy with the state of a relationship review, it can be advanced to the relationship approval stage. This activates the relationship approval form, which a member with the appropriate can then complete.
If any outstanding work is spotted at the approval stage, a remediation can be raised to alert team members of the necessary change.
Finally, once the approval is completed, the relationship review as a whole is also considered completed.
The relationship approval form consists of the following fields:
Compliance Assessment: A detailed summary of the ML/FT risks posed by the relationship as well as any mitigating circumstances, the use of enhanced due diligence and/or concessions. Including all factors that have formed part of your decision making.
Final Risk Classification: The manual selection of risk classification as the outcome of the review. This will be used to categorise the relationship in terms of risk classification.