25 Questions
According to FINMA Guidance 05/2023, what are banks obliged to prepare?
Risk analysis
What must banks determine based on the risk analysis?
Relevance for their own business activities
In addition to money laundering risks, what other risks must banks capture, limit, and monitor?
All operational risks
What does FINMA Circular 2017/1 provide guidance on?
Corporate governance - banks
When did FINMA review risk analyses of over 30 banks?
Spring 2023
What is the contact information for FINMA?
Laupenstrasse 27, 3003 Bern, Tel. +41 (0)31 327 91 00, www.finma.ch
Which one of the following factors is considered in the risk category assessment?
Client segments
What is the possible range of risk tolerance in the assessment?
(Very) high
Which one of the following is NOT a component of the net risk calculation?
Risk-mitigating measures
What is the purpose of compliance with the risk tolerance in the risk analysis?
To determine the risk category
Which one of the following is an example of a key figure in the risk analysis?
Total
What is the purpose of an adequate risk analysis?
To determine the risk category
Which one of the following is NOT a criterion of RC3 (Products and services)?
Criterion 1 of RC2
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
What is one of the prerequisites for a risk analysis according to the text?
An adequate definition of a risk tolerance
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
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
What is one of the basic requirements for a risk analysis according to the text?
An adequate definition of the money laundering risk tolerance
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
According to the 2015 explanatory report, what is one requirement for the risk analysis?
It must be periodically reviewed
What is the relationship between a bank's business strategy and risk policy?
They have a partial dependency
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
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
What does an adequate model of a risk analysis include?
Assessment of risk tolerance
What is the purpose of tracking the development of risks and assessing the resource situation?
To manage, control, report, and monitor risks
Test your knowledge on monitoring compliance with business strategy and risk policy. Learn about the importance of documenting risk analysis, reviewing it periodically, and obtaining approval from the board of directors or top management. Understand how these practices contribute to the development of effective risk policies and business strategies.
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