What We Do

Effective risk management requires more than policies, risk registers, and reporting templates. It requires a structured framework that supports decision-making, establishes clear accountability, and enables organisations to identify, assess, manage, and monitor their risks.

Widbrook Consulting provides senior-level expertise in the design, development, implementation and independent review of Risk Management Frameworks, tailored to each organisation’s size, complexity, strategic objectives, and operating environment.

Who We Work With

Organisations seeking to establish a formal Risk Management Framework, strengthen existing arrangements or obtain an independent assessment of their current risk management practices.

How We Can Help

• Framework design and development: Establishing practical risk management structures, policies, methodologies, and processes.
• Framework reviews and enhancement: Assessing existing arrangements, identifying gaps, and recommending improvements.
• Risk governance and accountability: Clarifying risk ownership, oversight responsibilities, escalation, and reporting arrangements.
• Risk appetite and tolerance: Supporting the development of risk appetite statements and practical risk limits aligned with organisational objectives.
• Risk assessment and reporting: Developing proportionate risk assessment methodologies, registers and management or board reporting.
• Implementation support: Working with management to embed agreed risk management practices into day-to-day operations.

Our Approach

We work collaboratively with leadership teams to understand the organisation’s existing arrangements, business priorities, and risk environment.

Our recommendations are practical and proportionate, drawing on recognised risk management principles and relevant governance expectations where appropriate.

What You Can Expect

Depending on the agreed scope, deliverables may include a Risk Management Framework, supporting policies and procedures, risk assessment tools, governance recommendations, reporting templates and a prioritised implementation plan.

Engagements are scoped individually, with deliverables, timelines and fees agreed in writing before work begins.

Not every organisation requires a full-time Chief Risk Officer, but many benefit from access to experienced risk leadership and independent advice.

Widbrook Consulting provides flexible, senior-level risk management and governance support to executive teams and boards, helping organisations strengthen risk oversight, improve reporting and support informed strategic decision-making.

Who We Work With

Organisations seeking experienced risk leadership without a permanent executive appointment, as well as established businesses requiring additional expertise, independent challenge, or interim support.

How We Can Help

• Fractional Chief Risk Officer: Providing ongoing senior-level risk leadership and advisory support through an agreed part-time engagement.
• Board and Executive Advisory: Supporting boards and leadership teams with risk oversight, strategic risk considerations, and governance effectiveness.
• Risk Appetite & Reporting: Advising on the development and refinement of risk appetite statements, risk reporting, and escalation arrangements.
• Risk Governance: Reviewing and strengthening risk responsibilities, committee structures, and oversight arrangements.
• Independent Challenge: Providing an objective perspective on significant risks, emerging issues, and proposed management actions.
• Interim Risk Leadership: Providing temporary senior risk management support during periods of transition or organisational change.

Our Approach

We tailor each engagement to the organisation’s existing risk management capabilities, governance structures, and business priorities.

Services are available to organisations in South Africa and the United Kingdom, with engagements delivered remotely or through a combination of remote advisory support and agreed on-site attendance.

For UK clients, remote delivery is our standard approach. Where in-person attendance is required, travel and accommodation arrangements and associated costs will be agreed in advance and reflected in the engagement terms.

Support may be provided through an ongoing monthly retainer or a separately scoped advisory engagement, with responsibilities, availability, deliverables, and fees agreed in advance.

What You Can Expect

Depending on the agreed scope, deliverables may include executive and board advisory input, enhanced risk reporting, risk appetite recommendations, governance improvements, and a structured handover of agreed work.

Our role is to provide experienced advice, leadership support and independent challenge while respecting the responsibilities and decision-making authority of the organisation’s management and board.

Understanding whether your organisation’s FIC Act compliance arrangements are appropriate, effective, and aligned with applicable regulatory requirements is an important part of managing financial crime risk.

Widbrook Consulting provides independent FIC readiness reviews to help accountable institutions assess their existing compliance arrangements, identify gaps, and prioritise improvements.

Who We Work With

Accountable institutions seeking an objective assessment of their FIC Act compliance arrangements, including motor vehicle dealers, estate agencies, art dealers, and other applicable high-value goods businesses.

Our reviews are suitable for organisations preparing for regulatory scrutiny, evaluating an existing Risk Management and Compliance Programme (RMCP), or seeking greater confidence in their compliance practices.

What We Review

Depending on the agreed scope and applicable regulatory requirements, our assessment may include:

• RMCP: Reviewing the content, completeness, and business-specific application of the organisation’s programme.
• Business Risk Assessment: Assessing the approach to identifying and evaluating money laundering, terrorist financing, and proliferation financing risks.
• Customer Due Diligence: Reviewing customer identification, verification, risk classification and enhanced due diligence arrangements.
• Screening and Reporting: Assessing relevant screening procedures and applicable FIC reporting processes.
• Record Keeping: Reviewing the organisation’s approach to maintaining required customer and transaction records.
• Training and Governance: Assessing compliance responsibilities, staff awareness, oversight, and monitoring arrangements.
• Practical Implementation: Examining a proportionate sample of records and procedures to understand how documented controls operate in practice.

What You Can Expect

Following the review, Widbrook will provide a written assessment outlining:

• Key observations and identified compliance gaps.
• Areas requiring management attention.
• Prioritised recommendations for improvement.
• Suggested next steps to strengthen compliance arrangements.

Our Approach

The scope, timetable and fee are agreed in advance, taking account of the organisation’s size, complexity, and existing compliance arrangements.

A readiness review is an independent advisory assessment. It does not constitute a regulatory inspection, legal opinion, or guarantee of compliance.

Where further assistance is required, RMCP development, remediation or implementation support can be separately scoped. There is no obligation to appoint Widbrook for additional work.

A Risk Management and Compliance Programme (RMCP) is a central component of an accountable institution’s approach to meeting its obligations under the Financial Intelligence Centre Act.

An effective RMCP should reflect the institution’s actual business activities, customers, products, services, and exposure to financial crime risk. It should establish clear, practical policies, procedures and controls that can be understood and applied throughout the organisation.

Widbrook Consulting assists accountable institutions with the development, independent review and enhancement of business-specific RMCPs, aligned with applicable FIC Act requirements.

Who We Work With

Accountable institutions requiring a new RMCP, seeking to strengthen an existing programme or requiring specialist assistance to address identified compliance gaps.

Our services are particularly relevant to motor vehicle dealers, estate agencies, art dealers, and other applicable high-value goods businesses, as well as other organisations subject to the FIC Act.

How We Can Help

• RMCP Development: Designing and documenting a business-specific programme appropriate to the institution’s activities, risk profile, and regulatory obligations.
• RMCP Reviews: Independently assessing existing programmes against applicable requirements and identifying areas requiring improvement.
• Business Risk Assessments: Supporting the identification, assessment and documentation of money laundering, terrorist financing, and proliferation financing risks.
• Customer Due Diligence Frameworks: Developing or enhancing procedures for customer identification, verification, risk classification and enhanced due diligence.
• Screening, Reporting & Record Keeping: Establishing or strengthening relevant procedures and controls in accordance with applicable requirements.
• Governance & Accountability: Clarifying compliance responsibilities, management oversight, monitoring, and escalation arrangements.
• Implementation Support: Assisting organisations with the practical introduction of agreed policies, procedures and controls, including staff guidance and training where required.

Our Approach

We begin by understanding how the institution operates, the customers it serves, the transactions it undertakes and its existing compliance arrangements.

We then develop or review the RMCP in the context of the institution’s specific risk profile and applicable regulatory obligations.

Our focus is on practical, proportionate arrangements that management and employees can implement and maintain.

What You Can Expect

Depending on the agreed scope, deliverables may include:

• A newly developed or revised RMCP.
• A documented business risk assessment.
• Supporting compliance policies, procedures, and control documentation.
• Recommendations for addressing identified gaps.
• A prioritised implementation plan.
• Practical implementation guidance where agreed.

Engagements are individually scoped, with deliverables, timelines and fees confirmed in writing before work begins.

Meeting regulatory reporting obligations is an important part of an accountable institution’s responsibilities under the Financial Intelligence Centre Act.

Widbrook Consulting assists South African accountable institutions with understanding, preparing, and completing applicable Financial Intelligence Centre Risk and Compliance Returns (RCRs).

Risk and Compliance Returns (RCRs)

An RCR is a regulatory return through which applicable accountable institutions provide the Financial Intelligence Centre with information about their understanding of financial crime risks and the compliance measures they have implemented.

An RCR is distinct from a Risk Management and Compliance Programme (RMCP). The RMCP documents an institution’s risk-based policies, procedures, and controls, whereas an RCR provides information requested by the FIC through the relevant reporting process.

How We Can Help

• Understanding RCR Requirements: Helping institutions establish which reporting requirements apply to them, including relevant submission periods and deadlines.
• RCR Preparation: Assisting with interpreting questions, gathering information, and preparing accurate, evidence-based responses.
• Compliance Gap Identification: Identifying inconsistencies or gaps between existing compliance arrangements and information required for the return.
• Submission Support: Providing practical guidance on completing and submitting applicable returns through the prescribed FIC channels.
• Ongoing Compliance Advisory: Assisting institutions with related compliance questions and identifying areas where policies, procedures or controls may require attention.

Who We Work With

Accountable institutions required to complete applicable FIC Risk and Compliance Returns, including qualifying motor vehicle dealers, estate agencies, art dealers, and other high-value goods businesses.

Our Approach

We work collaboratively with management and designated compliance personnel to understand the institution’s activities, review relevant supporting information, and assist with the preparation of its return.

The institution remains responsible for the accuracy, completeness, and timely submission of its regulatory information.

Engagements are individually scoped, with responsibilities, deliverables, timelines, and fees agreed in advance.

Who We Work With

Boards, executive teams, business owners, and organisations seeking an independent perspective on their risk management or governance arrangements.

Reviews may be particularly valuable during organisational change, following identified weaknesses, ahead of significant business decisions or when existing arrangements have not been independently assessed.

What You Can Expect

Depending on the scope of the engagement, Widbrook will provide a written assessment setting out:

• Key observations and areas of good practice.
• Identified gaps or weaknesses.
• The implications of significant findings.
• Practical, prioritised recommendations.
• Suggested actions to strengthen existing arrangements.

Our Approach

Each review is tailored to the organisation’s size, complexity, objectives, and existing arrangements.

We agree the scope, assessment criteria, deliverables, timetable, and fees before work begins.

Our reviews are independent advisory assessments and do not constitute statutory audits, formal assurance opinions, or certifications.

Where implementation or remediation support is required, this can be separately scoped.