MFSA Inspection Support

Regulatory inspections are of course a serious matter. Whether this is a standard check, or a result of a more serious matter, every regulatory inspection must be treated with the upmost professionalism from the regulated business.

During an inspection, the MFSA are going to expect you to be well prepared, able to clearly demonstrate the effectiveness of your systems and processes including Governance, Risk Management, IT Security and Financial Crime Compliance. Of course, expect them to review select clients from onboarding through to transactional monitoring. The regulator is also going to want to talk to the relevant staff, ensuring they are competent.

The regulator is expecting to be able to ask questions and have them answered there and then, the MFSA want to be able to leave without any concerns about the running of your business.

Experience, stability and support.

We are experienced, we've done this multiple times. It may be your first inspection, but it isn't ours. We work closely with you providing as much support and guidance as you request or require in a well organised, structured process.

When working with us, you'll see we are in control of the process and systematically pass on our knowledge and experience during the preparation and audit itself. Our entire aim is to fully prepare you and, if needs be, put things right before its too late.

We know how to work with the regulator, but we also know how to work with you, our client, to ensure you have peace of mind.

Staff should give clear and concise answers to questions without waffle, if the particular member of staff doesn't know they need to know who to refer to.

Staff should also be able to give a clear run through of systems and processes, explaining the areas of interest to the MSFA.

Demonstrating knowledge is important, which is why we prepare your staff to not only show they are competent, but also communicate this is a professional way.

We review all compliance and risk related materials, ensuring these materials are to sufficient standard. The team at Adrenawin have the experience to notice any gaps in the polices and procedures, allowing this to be corrected before the inspection.

Importantly, we make sure that compliance and risk polices and frameworks are implemented in day to day operations, and can be clearly demonstrated to the regulator.

We review your clients, their onboarding files, and their transactional activity without any pre-conceived impressions. We review with the experience of what the MFSA will be looking for, challenging where appropriate so you can be prepared for regulatory questions if they are put to you or your team.

How your company is run from the top has a major impact on the regulator. It could be a new hire is required, such as a specialist Non-Exec, it could be a realigning of roles, or a new committee. Whatever the requirements, we are will positioned to ensure the top of your company is robust.

Your paperwork is always read by the MFSA, in detail. It may be a 200 page document, but you can be sure the MFSA will read it all and ensure what you say is happening, is happening. Where the polices need updating and refining, we have the in-depth knowledge to do this.

We can review your systems, such as IT, AML, KYC and risk to correct or enhance any gaps. If the MFSA have picked up on an area of concern then we can support with remediation of this, bringing in further third parties if required.

The end of the inspection doesn't mean the end of our support. We can provide ongoing improvements and support, ensuring you can always sleep easy at night.