Customer’s question: evaluate approach to integrity risk research

Best practice as a reference

One of the Curacao banks wanted to have its methodology for determining the integrity risk for its customers evaluated. They requested us explicitly to compare their current methodology with what we recognize as a best practice approach based on our experiences in the Netherlands.

Our approach

We reviewed all documents used in determining clients’ integrity risk. These included work instructions, forms, and checklists. For a complete picture of the methodology in practice, we openly spoke with the bank’s involved employees and collected the necessary feedback. In our evaluation, we looked at workability, consistency, and effectiveness and how that relates to what we, in the Netherlands, consider to be best practice in the field.

Our team in Curacao carried out the assignment in close collaboration with our consultants in the Netherlands. This partnership was essential due to two important components: the compliance with local laws and regulations and the comparison with best practice in the Netherlands.

Strong recommendations as a result

As our clients can always expect, we have delivered custom work for that client with the highest quality. Our report covered more than a description of the applied methodology and general findings. We also provided detailed findings, including ambiguities (such as missing definitions) and inconsistencies. Furthermore, we presented our client with concrete recommendations for improvements.

Partner for the future

Our approach and the result were decisive for the client to choose Partner in Compliance again for several comparable assignments.