Category Archives: Sanctions Compliance Program 101

The most frequent questions we receive on sanctions training How should our training be structured? Training is an essential component of your SCP to ensure that employees understand your company’s risk appetite, compliance structure, and policies and procedures used to achieve compliance. We often see that organizations and suppliers of training materials focus on explainingContinue reading “Sanctions Compliance Program- Training”

The most frequent questions we receive on testing and auditing In essence, testing and auditing are variations of the same answer to the question, is our program working as intended and as needed? Testing and auditing are the means for your organization to evaluate the effectiveness of your sanctions compliance program in practice. In termsContinue reading “Sanctions Compliance Program- Testing and Auditing”

The most frequent questions we receive on internal controls: Policies, instructions and procedures as internal controls  Internal controls are multiple different actions and tools working together to form a comprehensive package of measures which are the means to minimize the sanctions risks to your company. There should be an inherent interplay between the findings ofContinue reading “Sanctions Compliance Program- Internal Controls”

The most frequent questions we receive on risk assessment: What is a risk assessment? A risk assessment is the means of identifying areas in your organization’s operations where there is inherent risk for potential sanctions violations or misconduct. Effective risk assessments are conducted regularly or as an ongoing exercise using a defined risk-based methodology thatContinue reading “Sanctions Compliance Program- Risk Assessment”