Success Stories: Projects delivered by our consultants

 

 

Banking – AML & Compliance Advisory Services

The client:

 A European investment bank based in London, with a global footprint specializing in Investment Banking, Private Banking, Corporate Actions/Mergers & Acquisitions, Corporate/Structured Finance, Syndicated Loans and Trade Finance.

The requirement:

During a time of transition the institution wished to merge Legal and Compliance departments and offload the AML/KYC function to the Operations back office whilst maintaining the same level of quality and oversight. The task was to come up with a transition plan and make the functions work seamlessly.

 

The solution:

  • Design, approval and deployment of an AML Desktop User guide
  • Introduction of customer requirements matrix for document requirements grid
  • Trained the onboarding unit how to carry out due diligence checks on a risk based approach
  • Collaborating with IT developers to champion a new central customer database to retain customer information on an ongoing and documented retention period.
  • Introduced customer AML profiling by embedding a risk assessment methodology

Oil & Gas – AML & Compliance Services

 

The client:

One of the world’s leading international oil and gas companies, providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemicals products for everyday items.

The requirement:

Client required an array of combined services, including the restructuring of its on-boarding unit, guidance on how due diligence should be done effectively and appointment of skilled staff to do the work

 

The solution:

  • Kaizen through its consultants
  • Reviewed the current structure of the on-boarding team
  • Advised on a split between the account opening team which focused on its integrated sales and trading unit and the on-boarding of corporate entities and the shipping team which focused on on-boarding vessels
  • Revised the staff portfolio and recommended training to uplift the minimum requirement of good quality AML staff
  • Recruitment of proportionately skilled AML resources in support to cater for the mandatory remediation project
  • Revision of the KYC/CDD Procedural Standards; in turn drafted and implemented the use of a Desk Book guide with full guidance on its account opening and on-boarding process
  • Reviewed systems and tools, making recommendation on effective controls needed to simplify the on-boarding process
  • Managed workflow and conducted initial and ongoing monitoring more efficiently and effectively with a cost saving strategy in place
  • Trained staff on the use of such tools and managed the team towards a productive session before handing over to permanent senior managers within the oil & gas firm

Professional Services – Change Management

The Client:

A professional services company with international footprint providing change management, support and infrastructure projects to large Financial Institutions.

The Requirement:

Conducting an initiative focused on Investment Suitability. As a result of a directive of the regulator, there was the need to ensure customers of the International Wealth Management division were being offered products to suit their investment profile and experience.

The Solution:

  • Introduction and embedding of Investment Suitability awareness training to all Senior Front Office Staff and Heads of Division
  • Designed, created and implemented Work Flow management system for Front Office employees to provide relevant information to protect client interests
  • Creation of an Investment Suitability template with intention to keep consistency of approach to clients on the request for information
  • Engaged with Senior Management and Partners to assess, build out and deploy Investment Suitability and Customer Due Diligence remediation services covering review of all wealth management (High Net Worth) clients and portfolios