Issue 580 (Week ending 10/05/2023)

Complying with the Individual Accountability Framework (IAF) is a complex and time consuming process, but it's one that cannot be overlooked. One of the key pillars of the new IAF from the Central Bank of Ireland requires regulated entities to regularly certify the Fitness & Probity of persons in areas of decision-making responsibility across their management teams in Control Function & Pre-Approval Control Function roles (CF and PCF roles).

This can be time consuming and costly for the organisation to manage themselves. CRIFVision-net are experts in this area and would be delighted to help.

We have created an online-solution that will help you manage all of your Fitness & Probity checks in one central dashboard where you can periodically run checks on persons in scope for the IAF in seconds. You can also activate monitoring so you will be notified if anything changes and take pro-active, positive action.

We believe that our platform can help you not only meet the demands of the Individual Accountability Framework, specifically enhanced Fitness & Probity checks, but also improve your overall compliance processes.

With our user-friendly interface and expert support, you'll be able to streamline your compliance processes to ensure you are meeting the latest requirements from the Central Bank of Ireland.

Fitness & Probity Mgmt. Made Easy

Our IAF solution will allow you to run Fitness & Probity checks with the click of a mouse. Returned results are delivered with easy to interpret traffic lights. Green means go, amber review, red investigate further, saving time, money and resources.

You will be able to easily screen and centrally manage enhanced Fitness and Probity, as well as request supporting documentation on all persons in-scope for IAF. The checks it covers include:

• Confirmation Of Identity
• PEP / Sanctions Check
• Checks against 10 Registries
• Registered Consumer Court Judgements
• Disqualified or Restricted Directors
• Bankruptcy
• Insolvency Service of Ireland Records
• Revenue Settlements
• Irish Business Owners
• Irish Company Directors & Secretaries
• Irish Company Shareholders
• Confirmation Of Bank a/c
• Consent based transaction monitoring is also available

This system is also available through API connection for more frictionless integration into your HR, reporting or control systems. Alternatively, the above checks can be performed as an offline project - in one batch process and delivered in data format for import into your systems.

If you're interested in learning more about how we can help comply with the Individual Accountability Framework, please contact us today. We'd be happy to schedule a demo and answer any questions you may have. Call us today on Tel: 01 903 2660 or simply email us at Solutions.vision-net@crif.com