Correspondent Banking Onboarding (CBDDQ-driven)

Wolfsberg-CBDDQ-driven onboarding of a respondent bank. The CBDDQ's 110+ questions are digested into 10 procedure steps under the intake procedure; the remaining procedures cover licence/regulator verification, ownership + management diligence, correspondent risk rating, shell bank prohibition, AML program attestation, and periodic review.
Steps
7
Standard refs
0
Catalog version
0.14
Standards basis
ISA, PCAOB AS, IFRS, IIA GIAS (public standards)

Procedures

  1. CBDDQ Intake (110+ questions, 10 sections)proc_cbddq_intake

    Digest the Wolfsberg Correspondent Banking Due Diligence Questionnaire (CBDDQ v1.4) into 10 procedure steps, one per CBDDQ section. Each step records the respondent's answers plus supporting evidence and is anchored to a Wolfsberg CB Principle.

  2. Licence and Regulator Verificationproc_license_and_regulator_verification

    Verify the respondent's banking licence, competent regulator, and regulatory standing in its home jurisdiction.

  3. Ownership and Management Diligenceproc_ownership_and_management

    Identify and assess the ultimate beneficial owners and senior management of the respondent bank.

  4. Correspondent Risk Ratingproc_risk_rating_correspondent

    Compute inherent, residual, and overall correspondent risk using the Wolfsberg RBA factors across jurisdiction, product, client, and transaction dimensions.

  5. Shell Bank Prohibition Checkproc_shell_bank_prohibition_check

    Verify that the respondent is not a shell bank and does not maintain correspondent relationships with shell banks; block any relationship where shell-bank indicators are detected.

  6. AML Programme Attestationproc_aml_program_attestation

    Obtain and review a senior-management attestation of the respondent's AML/CTF programme against Wolfsberg principles.

  7. Periodic Correspondent Reviewproc_periodic_review

    Schedule and operate periodic refresh of the CBDDQ and associated diligence on an anniversary cadence aligned with residual risk.

Wolfsberg-CBDDQ-driven onboarding of a respondent bank. The CBDDQ's 110+ questions are digested into 10 procedure steps under the intake procedure; the remaining procedures cover licence/regulator verification, ownership + management diligence, correspondent risk rating, shell bank prohibition, AML program attestation, and periodic review.