AML SORTED | tealcompliance

A lot of firms we work with have a MLRO who also has other management

responsibilities and quite often fee earning targets.

  • We hear from them that they feel the burden of compliance, but they are often

  • frustrated as:

  • Keeping up to date with all the changes is difficult

  • Interpreting the rules and regulations law firms are bound by can be difficult because they are vague

  • They are never sure their systems properly manage the risks

  • It is a struggle to engage the staff, training is often boring

  • People don’t follow the policies and procedures

  • It feels like people make simple and obvious mistakes

  • Some people won’t do what is asked of them – everyone we speak to tells us this.

We have designed our AML Sorted service to support MLROs by introducing a programme of work which will ensure your firm has all the resources it needs to comply and most importantly it is followed by your team. Through training, effective policies and regular auditing firms will have confidence their compliance is working.

While using our service, firms will have regular training and policy reviews, reports to the Management Team about compliance and access to our helpline for guidance on any issues which arise. We work in partnership with our clients to make sure their compliance programme works to benefit the firm and their clients.

Our service is delivered over two years, starting with a diagnostic gap analysis which includes a review of your policies and procedures and gaining an understanding of how compliance works within your firm. From this we can plan a scheme of work to ensure that appropriate training is delivered, that policies and procedures are up to date and accurate and design a testing regime to ensure continued compliance.

Elements of the service:

  • Diagnostic Gap Analysis

  • Masterclasses for AML Staff

  • Briefing for Management Team

  • Finalise the Design of Compliance Framework

  • Policies updating/writing

  • In house or Remote Staff Training

  • Induction training

  • Quarterly Review

  • Quarterly report to the Management Team

  • Quarterly newsletter for staff on Compliance

  • Annual Audit

  • Annual presentation to the Management Team

  • Access to our Ask Teal service for the MLRO

Additional services

There are optional additional services which the firm will be able to access at a 30% discount as a Compliance Sorted client.

  • Outsourced Client Due Diligence Services

We can provide a team to carry out your client due diligence enquiries

  • Compliance Staff Holiday Cover

Our team of Associates can provide remote holiday cover

  • Compliance helpline for all staff

We can extend the helpline to all staff providing a first response service, only escalating issues to the MLRO

A lot of firms we work with have a COLP who also has other management

responsibilities and quite often fee earning targets.

We hear from them that they feel the burden of compliance, but they are often

frustrated as:

  • Keeping up to date with all the changes is difficult

  • Interpreting the rules and regulations law firms are bound by can be difficult because they are vague

  • They are never sure their systems properly manage the risks

  • It is a struggle to engage the staff, training is often boring

  • People don’t follow the policies and procedures

  • It feels like people make simple and obvious mistakes

  • Some people won’t do what is asked of them – everyone we speak to tells us this

We have designed our Compliance Sorted service to support COLPs by introducing a programme of work which will ensure your firm has all the resources it needs to comply and most importantly it is followed by your team. Through training, effective policies and regular auditing firms will have confidence their compliance is working.

While using our service, firms will have regular training and policy reviews, reports to the Management Team about compliance and access to our helpline for guidance on any issues which arise. We work in partnership with our clients to make sure their compliance programme works to benefit the firm and their clients.

Our service is delivered over two years, starting with a diagnostic gap analysis which includes a review of your policies and procedures and gaining an understanding of how compliance works within your firm. From this we can plan a scheme of work to ensure that appropriate training is delivered, that policies and procedures are up to date and accurate and design a testing regime to ensure continued compliance.

Elements of the service:

  • Diagnostic Gap Analysis

  • Masterclasses for Compliance Staff

  • Briefing for Management Team

  • Finalise the Design of Compliance Framework

  • Policies updating/writing

  • In house or Remote Staff Training

  • Induction training

  • Quarterly Review

  • Quarterly report to the Management Team

  • Quarterly newsletter for staff on Compliance

  • Annual Audit

  • Annual presentation to the Management Team

  • Access to our Ask Teal service for the Compliance Officer

Additional services:

There are optional additional services which the firm will be able to access at a 30% discount as a Compliance Sorted client.

  • Compliance Staff Holiday Cover

Our team of Associates can provide remote holiday cover

  • Compliance helpline for all staff

We can extend the helpline to all staff providing a first response service, only escalating issues to the COLP 

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