The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

How Often Do You Screen Counterparties for Risk?

An interesting recent poll about compliance shows that 45% of firms screen their counterparties for risk on a daily or weekly basis. But a quite significant 39% still screen only annually. A remaining 10% screen monthly or quarterly, and 6% just one-time only at on-boarding.

We can only believe that the frequency with which firms screen their counterparties for risk will increase.

But just what risks are you screening for amongst your counterparties? The same poll revealed 100% were screening for regulatory risks; 78% for reputational risks; and 51% for financial.

The poll was conducted by counterparty data specialists CounterpartyLink, risk intelligence company Regulatory Data Corp. and technology and digital media lawyers Kemp Little LLP following a webinar they ran recently with 115 attendees from a range of financial institutions across Europe. Respondents included compliance officers, financial controllers and chief accountants, on boarding analysts, Money Laundering Reporting Officers (MLROs), heads of legal and more.

Related content

WEBINAR

Recorded Webinar: Entity identification and client lifecycle management – How financial institutions can drive $4 billion in cost savings

A new model in Legal Entity Identifier (LEI) issuance has created significant opportunities for financial institutions to capitalise on their KYC and AML due diligence. By becoming Validation Agents and obtaining LEIs on behalf of their clients, financial institutions can enhance their client onboarding experience, streamline their internal operations, and open the door to new,...

BLOG

FCA Cracks Down on OMS Reporting Errors: Regulated Firms Pay the Price

By Matt Smith, CEO, SteelEye. Certain Order Management Systems (OMSs) have recently come under scrutiny from the FCA because of quality issues around MiFIR reporting. Firms that heavily rely on their OMS for daily regulatory reporting have been found to consistently over or under report their transactions. The responsibility for accurate reporting rests solely with...

EVENT

RegTech Summit Virtual

The RegTech Summit Virtual is a global online event that will be held in June 2021 with an exceptional guest speaker line up of RegTech practitioners, regulators, start-ups and solution providers to collaborate and discuss innovative and effective approaches for building a better regulatory environment.

GUIDE

Entity Data Management Handbook – Seventh Edition

Sourcing entity data and ensuring efficient and effective entity data management is a challenge for many financial institutions as volumes of data rise, more regulations require entity data in reporting, and the fight again financial crime is escalated by bad actors using increasingly sophisticated techniques to attack processes and systems. That said, based on best...