Step 02 / Explore the workbook

See the risks. Understand the controls.

A visual view of what is inside the Insurance and mortgage intermediaries edition, before you open Excel. Choose a tab to explore the illustrative worked example.

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Insurance and mortgage intermediaries

Financial crime risk assessment · illustrative example firm: Wrenfield Cove Intermediaries Limited

Change firm type
33
Pre-seeded risk factors

Editable in your copy

5
Risk categories

Regulation 18(2)(b)

02
High or very high inherent risks

Illustrative profile

00
Categories above appetite

After example controls

bwra-insurance-mortgage-worked-example.xlsxIllustrative data

Inherent risk exposure

Example placement of 33 sector risks across a 5 × 5 matrix, before controls

Impact ↑

Likelihood →

LowMediumHighVery highTop ten risk, by rank
  1. 1: Property-backed lending and purchase, score 12
  2. 2: Fraudulently obtained mortgages and deposits, score 12
  3. 3: AI-enabled document fraud and identity circumvention, score 9
  4. 4: Outsourcing and third-party delivery, score 9
  5. 5: Customers found to have provided false or stolen identification, score 9
  6. 6: Investment-type life products, score 9
  7. 7: Payments from unknown or unassociated third parties, score 9
  8. 8: Countries subject to sanctions or embargoes, score 8
  9. 9: Advised and intermediated distribution, score 6
  10. 10: Non-face-to-face relationships without safeguards, score 6

Risks by theme

Illustrative concentration, not live firm data

  • Transactions9
  • Customers8
  • Countries or geographic areas7
  • Products or services5
  • Delivery channels4

Reading the example. Compare inherent exposure with the controls in place. Residual risk can remain material even where controls exist, and must be assessed on evidence.

Top risk drivers

  1. 01Property-backed lending and purchaseHigh
  2. 02Fraudulently obtained mortgages and depositsHigh
  3. 03AI-enabled document fraud and identity circumventionMedium

What the workbook calculates

Risk scores, risk ratings, control strength and residual exposure against your appetite, in this example 8.0 inherent falling to 4.3 residual. Every rating can be changed as you complete your own assessment.

Formula-led scoring
See the actual workbook · real Excel sheets, rendered from the example file
Insurance and mortgage intermediaries: Inherent risk heatmap with category scores (illustrative example)Risk heatmap · opens full sizeInsurance and mortgage intermediaries: Residual risk dashboard against risk appetite (illustrative example)Residual dashboard · opens full sizeInsurance and mortgage intermediaries: Top ten inherent risks with rationale (illustrative example)Top risks · opens full sizeInsurance and mortgage intermediaries: Controls assessment with design and effectiveness ratings (illustrative example)Controls summary · opens full size

Built from the same data and formulas as the worked-example workbook, for an invented firm. All figures are illustrative.

About the Insurance and mortgage intermediaries edition

Insurance and mortgage intermediaries, including life and protection advisers. Insurance intermediaries are within the Regulations when acting in respect of long-term insurance contracts (reg 10(2)(f)). Mortgage intermediaries are not named in that definition, so confirm with your supervisor whether you are a relevant person; the method still supports your financial crime risk assessment. The NRA 2025 rates the insurance sector as low risk for money laundering, with higher risk in investment-type life products.