Sectors

Compliance and management systems for Banking in Angola

Financial institutions answer to the regulator, to correspondent banks and to external auditors at the same time. The compliance system has to withstand all three.

Risk and compliance team reviewing monitoring indicators at a financial institution (illustrative image)

Sector challenges

Pressure on correspondent banking relationships, anti-money-laundering and counter-terrorist-financing requirements, and rapid channel digitalisation put operational and technology risk on the same level as credit risk.

Applicable standards

ISO 37301 for the compliance management system, ISO 37001 for anti-bribery, ISO 27001 and ISO 27701 for information security and privacy, ISO 22301 for business continuity, and ISO 31000 as the risk management framework.

Compliance and ESG

Beyond regulatory compliance, ESG criteria are increasingly required in lending and portfolio assessment. That means a formal policy, reliable client data and the ability to demonstrate the process, not merely declare it.

Audit needs

Independent internal audit of the compliance programme, control testing on critical processes, information security audits, and live testing of continuity and recovery plans.

Typical problems we solve

An extensive compliance manual with no evidence of execution; an outdated risk matrix; a continuity plan never tested; segregation of duties compromised by understaffing.