A risk-based supervisory plan should detail scope, objectives, and timelines for conducting supervisory activities for the short-term ensuring that higher risk institutions receive more comprehensive and frequent supervision, while lower risk institutions are subject to less intensive oversight:
- Awareness. Promoting a culture of compliance.
- Outreach and guidance. Targeting emerging risks, best practices, risk mitigation techniques and regulatory requirements.
- Data analysis. Performing regular analysis of customer and transaction data to identify potential risks.
- Cooperation. Collaborating with domestic and international actors to share information, trends, and typologies on institutions.
