Our Partnership Strategy with Banks

  • We work towards increasing your financial crime- fighting capability
  • We help seed a sustainable compliance culture
  • We ensure your processes and systems are aligned with the latest regulatory expectations
  • Design of bespoke uplift programme

Our advisory service specialises in uplifting AML and CFT Programmes

Our consultancy team has extensive expertise in AML and a proven track record in delivering financial crime transformations at scale in multiple financial institutions. We are geared to ensuring our clients know what to do – to demystify AML regulations and remove ambiguities.
Consultancy can be offered in the form of a diagnostic health check for a limited period or as a more extensive engagement covering all the modules mentioned below. We are also able to create a bespoke programme based upon your needs - this includes performing discrete pieces of work such as transaction monitoring tuning or supporting training needs. Please contact us for more information so we can understand your needs better.

Institutional Risk Assessment
  • Understand the as-is situation, conduct gap assessment against regulatory requirements and establish remediation plan for the gaps that are identified
  • Evaluate the methodology and results of your enterprise-wide financial crime risk assessments
Leadership, Governance & Accountability
  • Review the management of the AML programme and the overall compliance culture via senior management commitment in “Tone from the Top”
  • Review the reporting and organisation structure and independence of the Compliance Function. Evaluate the three lines of defence model
Risk Assessment – KYC, CDD and EDD
  • Help you to develop the KYC and CDD standards, procedures and controls according to your customers’ risk classification
  • Assisting in formalising the risk-based approach for customer on-boarding and ongoing monitoring processes for both enhanced and simplified due diligence
Policies and Procedures
  • Review your policies and procedures against regulatory requirements and international standards
  • Assess whether the policies and procedures cover all pertinent AML areas in accordance with industry leading practice.
Identification and Document Verification
  • Assist in fine tuning current processes for onboarding clients
  • Help map out ways to uplift existing customers to be aligned with current regulatory requirements on document verification
  • Advise further efficiencies to streamline identity and verification processes within the wider AML processes
Transaction Monitoring & Sanctions Screening
  • Assist in designing the effectiveness of rules, parameters and scenarios
  • Review and tune alerts to reduce false positives for sanctions screening and transaction monitoring scenarios
  • Advise on the potential for using AI and machine learning techniques to further optimise the investigation process
Regulatory and Suspicious Activity Monitoring
  • Develop a robust framework and procedures for unusual or suspicious (including but not limited to cash) transactions
  • Review the degree of automation, controls design and compliance with multiple reporting requirements
Training
  • Assess the annual training plan for comprehensiveness and appropriate provision for induction, refresher and ad hoc training
  • Review the training programme, taking into account factors including frequency, periodicity, delivery methods, participants, relevance, coverage of training material and checking of knowledge and understanding
Assurance and Independent Testing
  • Assess the independent testing framework and review if key processes, risk and controls are in place
  • Assess the implementation of the Three Lines of Defence model