Risk-Based compliance - the essential response to risk-based supervision

OuthwaiteHobbs offers risk-based compliance and anti-money laundering solutions to firms who are, or who wish to become, regulated by the UK Financial Services Authority ("FSA"). We believe that the risk-based approach is the essential response to risk-based supervision: this fundamental premise underlies all our work. The partners are experienced compliance and anti-money laundering practitioners whose ethos and values recognise the virtues of good regulation and embrace the commitment to integrity, technical excellence, professionalism, and value-for-money that underpins long-term client relationships.

OuthwaiteHobbs can advise on a broad range of compliance and anti-money laundering issues. Moreover, we can help firms establish the related systems and controls and other operational arrangements necessary to put that advice into practice.

OuthwaiteHobbs can assist firms in all aspects of the authorisation process, including: pre-authorisation advice on permissions and process; preparation of documentation and liaison with the FSA and other interested parties; and post-authorisation support including continuing advice, staff training, compliance monitoring and other services.

OuthwaiteHobbs can assist firms by identifying the risks inherent in their business, by reviewing their senior management arrangements for risk assessment and apportionment, by testing the existence and effectiveness of their systems and controls and by reviewing their arrangements for monitoring and reporting.

OuthwaiteHobbs can advise on all aspects of Anti-Money Laundering regulation and best practice and assist firms in relation to: strategic review and risk analysis; risk management frameworks; staff training and awareness; client acceptance criteria and processes; know-your-customer standards; procedural monitoring and reporting; customer activity monitoring; and policies and procedural documentation.

OuthwaiteHobbs can provide customised manuals, procedures, checklists, questionnaires and other operational aids to compliance for use in all parts of a firm's business.

These documents clearly articulate the rules and procedures they relate to and clearly define all relevant processes and accountabilities.

OuthwaiteHobbs can advise on all aspects of the training and competence regime and on the compliance issues relevant to the management of human resources generally.

We can deliver training solutions on all topics within the FSA's high level standards and business standards. We can also provide bespoke training on other regulatory issues upon request.

Mark Outhwaite
Mark Outhwaite MBA, BA (Hons) has over 20 years banking experience and has held a number of line and strategic positions in international banks in the City. Originally front-office based, Mark has more recently specialised in Risk Assessment and Control, Anti-Money Laundering and Compliance. He has been an active member of the Association of Foreign Banks’ Anti-Money Laundering Special Interest Group and is a frequent writer and an expert speaker on AML issues.

mark.outhwaite@outhwaitehobbs.com
Office: +44 (0) 1279 731176
Mobile: +44 (0) 7788 672263

Christopher Hobbs
Christopher Hobbs MSI has over 20 years financial services experience and has held senior Compliance and Anti-Money Laundering positions in a number of US and European banking and securities institutions. He is a member of the Securities & Investments Institute and has been an active member of the Association of Foreign Banks’ Legal & Regulatory Committee.

christopher.hobbs@outhwaitehobbs.com
Office: +44 (0) 20 7394 0355
Mobile: +44 (0) 7811 215099