EXPERT CONSULTING SERVICES
Streamline your institution with our strategic and innovative approach
Our Mission
Innova Compliance Solutions, LLC is committed to empowering financial institutions to innovate and streamline their processes, ensuring compliance with regulatory expectations while driving operational excellence. Our mission is to provide not only compliance solutions but also strategic insights that help institutions thrive in an increasingly complex regulatory environment.
We adopt a collaborative and client-centered consulting approach, working together with organizations to gain a deep understanding of their unique needs, challenges, and goals. By leveraging our industry expertise, we design tailored solutions that address specific pain points, enhance efficiency, and ensure compliance with confidence.
Transparency and a results-driven mindset are at the core of everything we do. From identifying opportunities for improvement to implementing effective, sustainable solutions, we focus on delivering measurable outcomes that support the long-term success of our clients. At Innova Compliance Solutions, we are not just advisors; we are partners in building a stronger, more resilient financial system.
Consulting Services by Innova Compliance Solutions
Governance framework
Development of the institution's policies and procedures to cover all risks related to Anti-Money Laundering (AML) regulations, as well as Sanctions regulations; Business Plans, Risk Models, Quality Control process, Anti-Bribery & Corruption (ABC) Program, Code of Conduct, Employee Handbook, and any other document needed establish its governance framework according to the country's state and/or federal regulations.
Staff Assessments & Capacity Assessments
A Staff Assessment involves analyzing the Key Performance Indicators (KPIs) of an institution or a specific department, using both quantitative and qualitative data. Its purpose is to identify potential process deficiencies and assess whether human and technological resources are adequately allocated to ensure the institution is equipped to mitigate all risks.
A Capacity Assessment builds on the Staff Assessment by evaluating the efficiency of the resources allocated to manage the identified Key Performance Indicators (KPIs).
Technology Consulting
Data analysis to validate interface between systems; configuration of alerts; design of a Customer Risk Rating Methodology (CRR), tuning and optimization of monitoring systems, and data calibration.
Risk
Construction of an AML & Sanctions Risk Model; coordination, support, and/or analysis and reporting of an AML & Sanctions Risk Assessment.
Independent audits
Innova serves as an independent third party to financial institutions (FIs) to evaluate the efficiency of the AML & Sanctions programs, based on the FI's applicable regulations. Excellent resource for new FIs to validate the Program's controls established to cover all risks prior the launching of the institution, and for active FIs as part of their regulatory requirement.
Expertise in remediation plans, including project management, look-back processes, and progress reports with regulators/auditors.
Due Diligence (DD) processes
Provides support to FIs at the customer onboarding level; periodic Enhance Due Diligence (EDD) reports, including client on-site visits; transactional data analysis and reporting; development of DD forms and; project management during the implementation of new DD processes.