How to build a Business Risk Assessment Methodology

A robust Business Risk Assessment (BRA) forms the foundation of an effective AML/CFT framework and is a key regulatory expectation for all subject persons. However, many organisations struggle to develop a methodology that is tailored to their business model, supported by clear rationale, and capable of demonstrating a genuine risk-based approach.

This practical session explores the key components of designing and implementing an AML/CFT Business Risk Assessment methodology. Participants will gain an understanding of how to identify and assess money laundering and terrorist financing risks across customers, products, services, delivery channels, and geographic exposure, while ensuring alignment with Malta's National Risk Assessment and applicable regulatory requirements.

The course will also examine common weaknesses observed during regulatory examinations, including generic risk assessments, unsupported risk weightings, and inadequate linkage between identified risks and mitigating controls. Participants will learn how to develop a structured and defensible methodology that supports informed risk management decisions and strengthens the overall AML/CFT control framework.

By the end of the session, attendees will have a clearer understanding of the principles, governance considerations, and practical steps required to build and maintain an effective Business Risk Assessment methodology.

The Speaker

Stephanie Mangani is an Anti-Money Laundering specialist with over 13 years of experience in the financial crime area within the financial industry, and is the founder of MS Squared Compliance providing consultancy and outsourcing services in the financial crime area. Stephanie has 5 years’ experience in the UK working on various AML projects at leading banks. Stephanie holds a B.Com (Hons) in Accounting from the University of Malta and a distinction in the ICA Diploma in AML. Stephanie held the roles of an MLRO, Compliance Officer and Data Protection Officer at different financial institutions.