Migration of historic risk assessments

When setting up a Xama account, we encourage all our users to bring across as much of their AML data as possible. It’s an excellent opportunity to evaluate how complete and up to date your existing data is and deal with any gaps that may exist.

A really important part of this migration is to create historic risk assessments.

When you do create a historic risk assessment:

• You do not want to spend time completing a full risk assessment each time
• You want to record enough information to get the full value out of the reporting and dashboards that are available within Xama

In order to do so, we have created the Data Migration – Historic Risk Assessment template.

The template allows you to confirm that all AML related information has been migrated to Xama and then also to record the risk, as per your previous risk assessment, across the main categories of risk.

By recording the risk for each category as well as the overall risk you are populating all the information needed to consolidate risk information into the charts dashboard which is really useful for composing your firm wide risk assessment.

To finalise the historic risk assessment you can add the historically completed risk assessment as a document to the risk assessment. This might be a word document, PDF, Excel sheet or even a screenshot. This would help you keep track of all documents in one central location.

Once you have added the template to your list of available risk assessment templates, we always encourage our users to reflect on the questions and decide whether there is value to add additional questions. For example, you may want to create a checklist of what data you want to migrate for each client and contact as part of the template.

If you have any questions about data migration or using the template, please reach out to us.