Level of execution

Description of the level of execution component of the bronID Independent Review methodology

The level of execution is an indicator that shows the extent to which you follow the designed policies, procedures and controls, including the ones defined in your AML/CTF Program. Where the technical compliance component focuses on the existence of these policies, procedures and controls, the level of execution review dives deeper into the way the internal AML/CTF framework has been implemented. To ensure clear and comparable decisions, the Reviewer summarises the conclusion in the form of a rating. For each section, there are four possible ratings for execution, based on the extent to which the outcomes and characteristics are addressed: high level of execution; substantial level of execution; moderate level of execution; and low level of execution as presented in the table below:

 

Level of execution ratings

High level of execution

HL

The defined policies, procedures and controls have been strictly followed.

Substantial level of execution

SL

The defined policies, procedures and controls have been followed to a large extend. Minor improvements are needed.

Moderate level of execution

ML

The defined policies, procedures and controls have been followed to a some extend. Major improvements needed.

Low level of execution

LL

The defined policies, procedures and controls have not been followed to a large extend. Fundamental improvements needed.

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