April two minute update

April 2019 two minute update.jpg

Upgraded Assets and Liabilities (Trusts)
As previously outlined, the team has been working hard to make managing Assets and Liabilities easier and more robust. New features include:

  • Making the recording of balancing account movements optional.

  • Allowing accounts to be created during the process of recording transactions.

  • A new transaction type for recording capital additions or removals.

  • Improved abilities to modify created records. 

We're ready to go live on Tuesday 7th May. To give users a head start we have made the support site information available now, you can see more here.

We're also running training webinars at the following times:
Thursday 9th May @ 2.30pm - Register
Monday 20th May @11am - Register
Following this a recorded webinar will be made available on our Training Video Platform.
 

New Client Due Diligence reports available
We think that some firms are going to find compiling their first DIA annual reports onerous. For Connectworks users, help is at hand. Two new .csv reports are now available within the Connectworks AML Compliance module.

TheCDD Reportcontains CDD information for each of your clients, including the nature & purpose of your business relationship, address and jurisdiction of incorporation (where required), and any identified risks posed by the client. This report can be used to answer a number of questions required for the DIA’s annual AML/CFT report. See the webinar links below to register for one of our AML/CFT overview webinars and find out more.

TheCDD Status Reporthelps you track the performance of CDD across your client base. It shows the stage of the Connectworks CDD workflow that each client is at, as well as other useful information such as the level of CDD performed and the date to review or repeat CDD.

Both reports can be downloaded from the "I would like to…" menu of a firm’s AML Compliance section (screenshot below).




Special rates for Connectworks users for independent AML/CFT audits booked before 31 May, 2019
Fiducia, AML/CFT compliance specialists, is partnering with Connectworks to offer Connectworks customers an exclusive Independent AML/CFT Audit Package.

Fiducia knows that AML/CFT compliance can be confusing and costly. Costs can also be significantly higher for businesses outside of the main city centres where Auditors have to travel to undertake the Audit. 

To make life easy for your business, Fiducia has designed a special Remote Independent AML/CFT Audit Package.  This package will give you a plain English, super practical report that does not shy away from the reality of what you need to know as a business about your current AML/CFT compliance regime.

Fiducia are able to undertake the audit remotely using screen sharing technology to view the CDD for your clients in Connectworks, therefore passing the savings back to you. 

In June/July 2020 over 5000 businesses will have to have completed their Independent AML/CFT Audit.  Get on top of it and book in your Independent AML/CFT Audit with Fiducia right now to claim this special offer. 

Click here to see what Fiducia can do for you.




Printable CDD checklist
It's a good idea for all of your staff to be aware of what information is required in order to do CDD on clients before you start the process in Connectworks. We've therefore produced a handy, printable CDD Checklist that you can download here


Webinars 
We use GoToWebinar - simply register for this months live sessions below. You are also welcome to visit our Training Video Platform to view recordings of our most popular topics at your own pace. If you would like to arrange a one-on-one training webinar for your firm get in touch with us at enquire@connectworks.com

Trusts overview
For those that haven't seen or are very new to trusts this is a high level overview on all functionality. 45mins. 
Thursday 9th May @ 10.30am - Register 

Companies overview
For those that haven't seen or are very new to companies this is a high level overview on all functionality including annual return processing. 45mins. 
Monday 6th May @ 2.00pm - Register 

AML/CFT in Connectworks
Learn how to manage your AML obligations in Connectworks. 30mins.
Monday 6th May @ 10.30am  - Register  
Thursday 16th May @ 10am - Register

Trust Assets & Liabilities
Learn how to use the new Trust Assets & Liabilities functionality in Connectworks. 30mins.
Thursday 9th May @ 2.30pm - Register
Monday 20th May @11am - Register

Quote of the month 
"The most precious thing that we all have with us is time"
- Steve Jobs