Advised a global digital assets trading platform

We are delighted to have supported a global digital assets trading platform with MAS payment services license in Singapore

Our Business Risk team was engaged to develop policies and procedures for the client's operations, including:

• Compliance Management – AML/CFT, MAS Notification and Incident Management and Reporting, PDPA, Business Continuity Plan and Disaster Recovery Plan, Outsourcing, Regulatory Change Management, Document Retention, User Protection, Regulatory Reporting
• Operations – Sales, Marketing, Trading, Trading Operations, Complaint Management and Procurement.
• Human Resources (HR) – HR Management, Fit and Proper and Accountability and Conduct, and Payroll Processing.
• Finance – Budgeting, Delegation of Authority, Credit Management, Accounts Receivable and Collection, Accounts Payable, CAPEX, Month-End Closing, and Treasury. 
• Corporate Governance – Fraud and Whistle Blowing, Conflict of Interest, Anti-Bribery, and Enterprise Risk Management. 

Value added

Prior to the development of the policies and procedures, our Business Risk team conducted various walkthroughs and interview sessions with the respective business functions to better understand operational procedures. During this process, the team holistically assessed the risk across various business units involved in key in-scope processes, identifying several areas for improvements based on market leading practices. This helped to enable better risk appreciation within the company. 

The client’s senior management team has also expressed appreciation for the practical recommendations suggested in correspondence to the observations raised.