Overview
At NOUV, we specialise in providing comprehensive Risk and Compliance services to organisations aiming to establish robust frameworks, effectively manage risks, and ensure adherence to regulatory requirements. Our services empower businesses to proactively mitigate risks, maintain transparency, and achieve operational excellence, enabling them to navigate complexities with confidence and strategic insight.
Internal Audit Function
Regulatory requirements demand a sound internal audit function. Our mission is to enhance and protect organisational value by providing risk-based and objective assurance, advice, and insight. We do this through a systematic and disciplined approach which aims to evaluate and enhance the effectiveness of risk management, control, and governance processes. Our Internal Audit Function follows IPPF (International Professional Practices Frameworks) standards and the IIA (Institute of Internal Auditors) code of ethics.
Internal Audit Performance Assessments
Our consultants perform Internal Audit Performance Assessments which involve reviewing the effectiveness, efficiency, and compliance of internal audit practices to ensure they align with industry standards and best practices. Through the assessment, we examine areas such as risk assessment methodologies, audit planning and execution, quality assurance processes, and reporting mechanisms. This process will help you identify strengths, weaknesses, and areas for improvement within your internal audit function, enabling you to enhance risk management, strengthen internal controls, and provide greater assurance to stakeholders.
Outsourced Risk Management Function
A structured approach to risk management can help to mitigate risk throughout an organisation, but we understand that not all companies can afford to employ risk managers on a full-time basis. This is why we offer Outsourced Risk Management, which involves our team members conducting a preliminary risk assessment exercise. Following this, we outline the risk framework that will be adopted and create a plan that fulfils your specific requirements, objectives and expectations. Throughout this process, we help nurture a more sensitised approach to risk management among your team, communicating the main risk management policies and procedures and fostering internal partnerships to optimise the risk management function.
Risk Management Policies & Procedures
While conducting appropriate reviews of all your company’s processes, our team can assist in drafting adequate risk management policies and procedures. Our primary focus is to foster a risk management culture through tailor-made solutions that address potential quantitative and qualitative risks the organisation faces.
AML/CFT Assurance & Audit
Our team can provide an independent and in-depth analysis of the effectiveness and robustness of your entire AML and CFT compliance programme. This process typically involves a review of all the relevant policies and procedures, followed by an onsite visit and meeting with the relevant personnel across the three lines of defence participating in the programme. Throughout this process, we help you spot weaknesses in your processes and identify reliable mitigants that can be put in place to establish a robust and effective AML and CFT programme in line with regulations. We ensure a holistic approach, which will result in an internal audit report consisting of a thorough gap analysis, recommendations and execution timeframes. We can also formulate testing programmes to ensure that the necessary standards are being maintained.
Customer Due Diligence
Customer Due Diligence reports can provide you with the insight you need to gain confidence in your decision-making when engaging, partnering, or operating with other entities. Through this exercise, we identify risks and protect you from potential regulatory, reputational and financial damage before entering into a new business relationship or carrying out a transaction. Our reports will give you the peace of mind to focus your energy on attracting new business to your firm.
Outsourced Compliance Function
By outsourcing your AML/KYC Compliance Function, you benefit from having an experienced team safeguarding your company rather than a single person. Our diverse team members draw on experience from different backgrounds including banks, real estate companies, corporate service providers and law firms. This enables us to support you by ensuring that all deadlines are met, regulations are abided by, and the overall compliance programme is fit for purpose. We will also recommend changes to senior management to ensure that the programme goes above and beyond.
AML/CFT Risk Assessment
Our team of experts is available to assist companies with anti-money laundering and combatting financial terrorism and regulatory risks. Throughout our years in business, we have helped clients by developing quality risk assessments, drafting AML/CFT and governance policies, and articulating tailor-made business risk assessment (BRA), customer risk assessments (CRA) methodology, and jurisdictional risk assessments (JRA). This has enabled licensed entities, service providers, and subject persons to develop a compliance culture within their organisation, as well as to promote effective change management and re-engineering processes, update internal policies and upgrade systems to mirror the latest requirements in the AML/CFT ecosystem.
AML/CFT Training
Through the NOUV Academy, we can assist companies with the training and upskilling of staff. We offer a range of AML, CFT, and Governance courses that are readily available for interested participants. We also can tailor-make specific courses focusing on addressing the client’s specific needs.
INSIGHTS
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Risk Management
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TEAM MEMBERS
Terrance Norris
Director Advisory – Risk & Compliance
For general inquiry, contact us on info@nouv.com
How can we help our clients?
Our Risk and Compliance services enhance your organisation’s risk management and governance frameworks through services that include Internal Audit assessments, outsourcing solutions, risk management policies, and AML/CFT audits. Through NOUV Academy, we provide specialised training to foster a proactive risk management culture. Our integrated approach is designed to help you achieve operational excellence through strategic risk and compliance management.
Our Risk and Compliance services enhance your organisation’s risk management and governance frameworks through services that include Internal Audit assessments, outsourcing solutions, risk management policies, and AML/CFT audits. Through NOUV Academy, we provide specialised training to foster a proactive risk management culture. Our integrated approach is designed to help you achieve operational excellence through strategic risk and compliance management.