Monitoring Compliance and Risk Policy

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According to FINMA Guidance 05/2023, what are banks obliged to prepare?

Customer surveys
Marketing materials
Risk analysis (correct)
Financial statements

What must banks determine based on the risk analysis?

Customer satisfaction
Profit margin
Relevance for their own business activities (correct)
Employee satisfaction

In addition to money laundering risks, what other risks must banks capture, limit, and monitor?

Market risks
Reputational risks
Cybersecurity risks
All operational risks (correct)

What does FINMA Circular 2017/1 provide guidance on?

Corporate governance - banks (B) Signup and view all the answers

When did FINMA review risk analyses of over 30 banks?

Spring 2023 (B) Signup and view all the answers

What is the contact information for FINMA?

Laupenstrasse 27, 3003 Bern, Tel. +41 (0)31 327 91 00, <a href="http://www.finma.ch">www.finma.ch</a> (C) Signup and view all the answers

Which one of the following factors is considered in the risk category assessment?

Client segments (C) Signup and view all the answers

What is the possible range of risk tolerance in the assessment?

(Very) high (C) Signup and view all the answers

Which one of the following is NOT a component of the net risk calculation?

Risk-mitigating measures (A) Signup and view all the answers

What is the purpose of compliance with the risk tolerance in the risk analysis?

To determine the risk category (A) Signup and view all the answers

Which one of the following is an example of a key figure in the risk analysis?

Total (D) Signup and view all the answers

What is the purpose of an adequate risk analysis?

To determine the risk category (B) Signup and view all the answers

Which one of the following is NOT a criterion of RC3 (Products and services)?

Criterion 1 of RC2 (C) Signup and view all the answers

According to Article 8 AMLA, banks must take measures to prevent money laundering and terrorist financing in their field of business. One of these measures is the preparation of a risk analysis. What is the purpose of a risk analysis?

To identify, record, analyze, and measure all money laundering risks (D) Signup and view all the answers

What is one of the prerequisites for a risk analysis according to the text?

An adequate definition of a risk tolerance (C) Signup and view all the answers

Which risk categories should be considered in a risk analysis according to Article 25 para. 2 AMLO-FINMA?

Client's place of incorporation or domicile, client segment, products and services offered (D) Signup and view all the answers

What is the purpose of recording the criteria listed in Article 13 para. 2 AMLO-FINMA?

To determine their relevance to the bank's business activity (A) Signup and view all the answers

What is one of the basic requirements for a risk analysis according to the text?

An adequate definition of the money laundering risk tolerance (D) Signup and view all the answers

According to the text, what does a bank need to do to prevent money laundering and terrorist financing?

Take measures required by Article 8 AMLA (B) Signup and view all the answers

According to the 2015 explanatory report, what is one requirement for the risk analysis?

It must be periodically reviewed (D) Signup and view all the answers

What is the relationship between a bank's business strategy and risk policy?

They have a partial dependency (B) Signup and view all the answers

According to margin no. 78 of FINMA Circular 2017/1, what does the compliance function of a bank do?

Conducts an annual assessment of the compliance risk (C) Signup and view all the answers

What does a bank with international branch offices or operating a financial group do according to Article 6 para. 1 AMLO-FINMA?

Conduct a risk analysis at a consolidated level (C) Signup and view all the answers

What does an adequate model of a risk analysis include?

Assessment of risk tolerance (D) Signup and view all the answers

What is the purpose of tracking the development of risks and assessing the resource situation?

To manage, control, report, and monitor risks (D) Signup and view all the answers