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Client Risk Profile Checklist
Client Identification and Verification
Collect personal identification documents (e.g., passport, driver’s license).
Verify the authenticity of identification documents.
Perform a face-to-face or video call verification.
Check client information against watchlists and sanctions databases.
Document the verification process and store securely.
Financial Status and Background
Gather information on the client's current financial situation (e.g., assets, liabilities, income).
Review the client's credit history and score.
Analyze the client's investment experience and knowledge.
Identify the client's employment status and history.
Evaluate the client's tax status and any outstanding obligations.
Risk Tolerance and Investment Objectives
Assess the client's risk tolerance through questionnaires or surveys.
Determine the client's investment goals and time horizons.
Evaluate the client's need for liquidity and cash flow requirements.
Discuss the client's previous investment experiences and outcomes.
Identify any specific investment restrictions or preferences.
Regulatory and Compliance Requirements
Ensure compliance with KYC (Know Your Customer) regulations.
Review and document the client's source of funds and wealth.
Check for any potential conflicts of interest.
Obtain client consent for data collection and sharing.
Maintain records in accordance with regulatory requirements.
Ongoing Monitoring and Review
Establish a schedule for regular client profile reviews.
Monitor client transactions for unusual or suspicious activity.
Update client information periodically to reflect any changes.
Review investment portfolio performance and alignment with objectives.
Ensure continuous compliance with regulatory changes.
