Ongoing monitoring of a business relationship means—
Ongoing monitoring means with regards to a Business Relationship:
Ongoing monitoring means monitoring by NDIS worker screening units for information about a worker with an NDIS Worker Screening Check clearance during the period of time where the NDIS Worker Screening Check is valid. This includes but is not limited to relevant information from law enforcement agencies, such as charges and court outcomes related to relevant offences, and from the Commission.
Examples of Ongoing monitoring in a sentence
Ongoing monitoring is an essential element of effective KYC procedures.
On-going monitoring and evaluation of the project outputs and outcomes should take place in the context of assessing the impact of the project.
Ongoing monitoring and remedial measures.The LEMP shall also include details of the legal and funding mechanism(s) by which the long-term implementation of the plan will be secured by the developer with the management body(ies) responsible for its delivery.
Our liability under this Bank Guarantee shall not exceed ( value infigures) [ (value in words) ].
Ongoing monitoring includes regular management and supervisory activities, comparisons, reconciliations, and other routine actions.
More Definitions of Ongoing monitoring
Ongoing monitoring means verifying that the setting is in compliance with both the regulation and the new business practice created to maintain compliance. Ongoing monitoring may need to be completed for a limited period of time or for the duration of the setting’s operation depending on the specific violation. 6. Designate responsibility and specific target dates for correction – It is critical that a specific person or persons be accountable for compliance. A general promise that water temperature will be monitored will not be effective – someone must be responsible for doing the monitoring, and must be rewarded or reprimanded based on the quality of his/her job performance. Moreover, specific dates by which correction tasks will be completed are required in order to effectively monitor plan completion and, ultimately, determine full compliance. Can settings dispute a finding on the LIS? Settings may document disagreement with a finding, and/or may document that providing a plan does not constitute admission that the listed violation is accurate. However, settings must provide a plan to correct each violation in addition to any statement(s) disputing the report’s findings. Remember, the Department may not issue any kind of license without a plan of correction. Some settings have expressed concern that the Department will use the plan provided as evidence that the violation existed – in other words, that providing a plan is an “admission of guilt.” The Department cannot do this, since the law requires settings to produce a plan.The Verification Phase During the verification phase, the Department reviews the degree of POC compliance the setting has achieved for each violation. This review determines in large part what kind of license the Department will issue – a regular license, a provisional license, or no license at all. When a setting submits a POC, the setting should assume that the POC is acceptable and begin implementing the plan. Meanwhile, each POC is reviewed by the Department to determine if it is acceptable. If the plan is significantly unacceptable for one or more regulations, the Department will contact the setting by phone or letter to inform the setting of the unacceptable plan. “Significantly unacceptable” means that the plan is fundamentally flawed; in some cases, the Department will partially amend a POC without contacting the setting. In these cases, compliance, or noncompliance with the amendments are not used in the final licensing decision. There are f...
Ongoing monitoring. Entails ongoing, unbiased monitoring of key project factors to identify risks before they derail an IT initiative. • Present Findings – Includes formulating recommendations, presenting findings to stakeholders, and documenting risks and recommendations. ISF uses a structured, proven approach to measure and validate critical project success factors and evaluate overall project status. ISF utilizes a “Red, Yellow, Green” project scorecard to determine the status of the project throughout project implementation. ISF conducts detailed assessments, reviews, and interviews to gather quantifiable data regarding key project components. This is accomplished through verification, validation, and confirmation of measurable, metric driven criteria. Questions are asked using comprehensive checklists to evaluate five critical project components, and then each area is scored based on results. These scores are compiled, status is determined for each component, and then rolled into the overall project status shown below. Clear Methodology - ISF’s proven methodology relies on detailed reviews, constant communication, and straightforward techniques that provide accountability without undermining and overcomplicating the project. Overall Project Status Green Yellow Red Project Components Evaluated and Scored Governance and Project Control Procurement and Contract Compliance Deliverable Compliance Risk and Issue Management Technical Approach and Quality IV&V Work Plan ISF tailors each IV&V project by meeting with the client and relevant stakeholders to review expectations and to identify IV&V objectives and expectations. Once consensus is reached on a satisfactory approach, ISF conducts the relevant tasks from our standard approach previously identified.
Ongoing monitoring. The Customer agrees that BIT24HR. may conduct ongoing monitoring of account activities to ensure compliance with AML guidelines and other regulatory requirements.
Ongoing monitoring means monitoring on a periodic basis based on the risk assessment undertaken in accordance with subsection 9.6(2) of the Act and subsection71(1) of these Regulations, by a person or entity to which section 5 of the Act applies of their business relationship with a client for the purpose of
Ongoing monitoring. All clients will be subject to ongoing monitoring, which includes observing the conduct of the client's account and scrutinizing transactions undertaken throughout the course of business relations. Clients' transactions must be consistent with the client's profile and source of funds. Prohibited Activities: Prime Codex LLC will not keep anonymous accounts, accounts with fictitious names, or accounts with tampered and forged documents. Suspicious Transactions Reporting: Prime Codex LLC shall submit reports on suspicious transactions (including attempted transactions) to the relevant local competent authorities. The Group Anti-Money Laundering Department will be informed of all suspicious transactions. Record Retention All client-related information and documents, transactions, account files, business correspondence, and analysis results shall be retained for a minimum of 10 years. Prohibited Business Relationships Prime Codex LLC shall refuse to establish a business relationship or to terminate an existing relationship with a client if Prime Codex LLC cannot reasonably ascertain the true identity of the client and/or beneficial owners or if the client is unwilling or reluctant to provide any information or document requested by Prime Codex LLC. In particular, the firm will not: ● Accept monies that are known or suspected to be the proceeds of criminal activity. ● Enter into/maintain business relationships with individuals or entities known or suspected to be a terrorist or criminal organization or member of such or listed on sanction lists. ● Enter into relationships with clients from restricted or prohibited countries. ● Enter into relationships with clients operating in sensitive/high-risk/prohibited industries. Risk Analysis Prime Codex LLC has implemented an ongoing AML Risk Analysis to assess the level of risk exposure considering the firm's customers, products, services, entities, and geographic locations risk and to derive appropriate security measures from this analysis. AML safeguards are derived from the results of the AML Risk Analysis.
Ongoing monitoring of a business relationship means the scrutiny of transactions undertaken throughout the course of the relationship (including, where necessary, the source of funds) to ensure that the transactions are consistent with the relevant financial business’s or person’s knowledge of the customer, his business and risk profile and keeping the documents, data or information obtained for the purpose of applying customer due diligence measures up-to-date.
Ongoing monitoring of a business relationship means the scrutiny of transactions undertaken throughout the course of the