A Risk Assessment Template is a set of questions used to evaluate the money laundering risk of a client or transaction. Every risk assessment in Workflow runs off a template and the template determines what questions are asked and how the answers translate into a risk score. By default, APLYiD has configured these in alignment with AUSTRAC requirements.
Why templates exist
AUSTRAC requires that your AML compliance program includes a documented risk assessment methodology which is a consistent, repeatable way of evaluating client risk. You can't assess each client differently and call it a compliance program.
Templates are how Workflow implements that requirement. Each template defines:
Which questions are asked during a risk assessment
How much weight each question carries (which determines how answers affect the final risk score)
The overall risk score thresholds that determine whether a client is rated low, medium, or high risk
Using a template means every assessment follows the same methodology. That consistency is what makes your program defensible to a regulator.
What templates look like in practice
When a team member completes a risk assessment on a case, they work through the questions in the template one by one. The answers feed into a score. The score produces a risk rating: Low, Medium, or High.
The risk rating then determines what level of customer due diligence is required. For example, a high-risk client may require enhanced due diligence, additional documentation, or senior sign-off before proceeding.
Pre-built vs. custom templates
Workflow includes pre-built templates based on AUSTRAC's published guidance and common industry practice. These are ready to use from day one and appropriate for most real estate and legal professional workflows.
Admins can also edit these templates to reflect their firm's specific risk appetite or to address particular client types or transaction categories. In some cases, you may simply opt to edit the wording around each question so that your team can more easily follow the templates.
Which template applies to a case?
Every case uses a template. The existing template for either the Case Risk Assessment or Client Risk Assessment is applied automatically.
Who can manage templates?
Only Admins and AML Supervisors users can create, edit, or delete templates. All team members can view templates and use them in cases.
If you think a change is needed on an existing template, speak to your admin or compliance officer.
Related articles