The Compliance Waterfall
In Episode 5 of Beyond the Check: Brick by Brick, host Rhian Del-Valle is joined by Luke Haddon, MLRO at Keystone Law, Mike Ross, Head of Risk & Compliance at Anderson Strathern, and Jon Parish, Compliance Manager at Credas, to explore one of the most important concepts in modern AML compliance: the Compliance Waterfall.
How should National Risk Assessments influence your day-to-day decisions? How do Sectoral Risk Assessments, Firm-Wide Risk Assessments and Client Matter Risk Assessments all connect? And are firms spending too much time completing compliance processes without fully understanding the risks that should be driving them?
The discussion covers:
✔ The Compliance Waterfall explained
✔ Why Client Matter Risk Assessments should never exist in isolation
✔ Cash buyers, source of funds and conveyancing risk
✔ The relationship between Firm-Wide and Client Matter Risk Assessments
✔ Technology, automation and risk scoring
✔ Building a strong compliance culture
✔ The challenges facing smaller firms
✔ When external compliance support can add value
As Luke Haddon explains during the episode, “Too often people decide a matter is low risk without stopping to think why.”
Whether you’re a conveyancer, compliance professional, MLRO, COLP, risk manager or legal sector leader, this episode offers practical insights into building a more connected and effective approach to AML compliance.
🎙️ Guests:
• Luke Haddon, MLRO, Keystone Law
• Mike Ross, Head of Risk & Compliance, Anderson Strathern
• Jon Parish, Compliance Manager, Credas
Hosted by Rhian Del-Valle, Director of Enterprise & Partnerships at Credas.
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