Monitoring Compliance and Risk Policy
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Questions and Answers

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?

    <p>Corporate governance - banks</p> Signup and view all the answers

    When did FINMA review risk analyses of over 30 banks?

    <p>Spring 2023</p> Signup and view all the answers

    What is the contact information for FINMA?

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

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

    <p>Client segments</p> Signup and view all the answers

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

    <p>(Very) high</p> Signup and view all the answers

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

    <p>Risk-mitigating measures</p> Signup and view all the answers

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

    <p>To determine the risk category</p> Signup and view all the answers

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

    <p>Total</p> Signup and view all the answers

    What is the purpose of an adequate risk analysis?

    <p>To determine the risk category</p> Signup and view all the answers

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

    <p>Criterion 1 of RC2</p> 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?

    <p>To identify, record, analyze, and measure all money laundering risks</p> Signup and view all the answers

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

    <p>An adequate definition of a risk tolerance</p> Signup and view all the answers

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

    <p>Client's place of incorporation or domicile, client segment, products and services offered</p> Signup and view all the answers

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

    <p>To determine their relevance to the bank's business activity</p> Signup and view all the answers

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

    <p>An adequate definition of the money laundering risk tolerance</p> Signup and view all the answers

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

    <p>Take measures required by Article 8 AMLA</p> Signup and view all the answers

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

    <p>It must be periodically reviewed</p> Signup and view all the answers

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

    <p>They have a partial dependency</p> 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?

    <p>Conducts an annual assessment of the compliance risk</p> 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?

    <p>Conduct a risk analysis at a consolidated level</p> Signup and view all the answers

    What does an adequate model of a risk analysis include?

    <p>Assessment of risk tolerance</p> Signup and view all the answers

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

    <p>To manage, control, report, and monitor risks</p> Signup and view all the answers

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