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CDD File Remediations

CDD File Remediations

Nowadays, the majority of organisations struggle to keep their Customer Due Diligence (CDD) files up to standard. To ensure that they still comply with the continuous changes and updated requirements of both local and international regulators.

In some cases, for example based on audit findings and/or regulatory enforcement, it might be necessary to uplift the quality of the files within a specific timeframe. This process is known as CDD File Remediation and certain skills are required in order to achieve a satisfactory result.

KYC File remediation specifics

As part of the remediation process, the BlueMonks specialists will work with an organisation’s stakeholders to: dispose of contradictory data, organise the information that is already available and ascertain any gaps in information, documentation or anything else, in order to be able to determine the customer risk and comply with laws and legislations.

The ultimate goal of this process is the uplift of business practices in the BAU, thus preventing future problems and/or gaps.

What can BlueMonks do for you?

BlueMonks can support your organisation with the uplift of the KYC Files to an agreed standard. This standard is agreed upon within the organisation, as well as with relevant regulators. To achieve a satisfactory result for all stakeholders, the remedial programmes supported by BlueMonks contain the following expertise:

  • Interim management tasks
  • Project management tasks
  • Senior, mid-level and junior KYC Analysts (available on a project basis or for long-term commitments)
  • Quality assurance (in order to confirm and challenge the quality of the existing files or existing remedial programmes)
  • Training and education of the existing staff.
  • Remedial programs

  • File remediation

  • Project management

  • Quality assurance

Interested? let's plan a call or a meeting.

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