Quantivate Blog

The U.S. Treasury Department’s anti-money laundering unit is changing leadership, as Kenneth Blanco stepped down on April 9 after being the director of the department since late 2017. Michael Mosier, a counselor to the Treasury’s deputy secretary, stepped in as director on April 11 and faces the challenge of implementing regulations associated with an anti-money laundering law that was passed in January of this year. This law was designed to create a registry of…

The events of 2020 made it clear that risk management is critical to an organization’s survival. There are many factors, both internal and external, to consider when cultivating a risk culture within your institution. In this series, we have discussed how to engage and empower your organization’s people in Part 1 and other important internal factors in Part 2. In this article, we’ll dive into the external factors you should consider for a risk-aware…

Quantivate’s own Director of Product Management, BJ Hillabush, offers a fun take on risk and compliance management through the eyes of popular Disney movie characters. As a member of the product team at Quantivate, I spend a large portion of my time speaking with governance, risk, and compliance (GRC) professionals. One thing has become abundantly clear to me: being a risk executive is not an easy task. The…

“Failed to establish and implement automated systems to monitor and report activity” and “unreasonably relied on manual review.” These were the words of the U.S. Securities and Exchange Commission (SEC) in an alert to financial institutions signaling that it is ramping up enforcement of anti-money laundering (AML) compliance requirements. It would seem that financial services firms using manual methods for compliance management and monitoring are not only punishing themselves with cumbersome ways of managing…

The events of 2020 made it clear that risk management must not only be a priority at the management level, but also interwoven into the culture of the whole organization. There are many factors to consider when building a risk culture within your organization, both internal and external. Part 1 of this series discussed the most critical aspect of this initiative, the people. In this article, we’ll dive into the other internal factors institutions need to consider.   Internal Factors for Building a Risk Culture…