In order to satisfy Regulators, our client, an international Private Bank, required a periodic risk review of their customer base completed within nine months. With no available in-house resource, they needed to partner with a specialist to implement a team to deliver these requirements.
We delivered a periodic risk review in just nine months, leaving a framework for the future. We supplied a fixed price team to review over 5,000 high net worth, high-risk individuals, many from high-risk jurisdictions.
The team was led by a Programme Manager and included three Quality Assurance Leads and nine AML / KYC Analysts.
The review included transaction and adverse media analysis, review of assets encompassing hedge funds, mutual funds, SPVs/SPEs and bearer shares, wealth generation/source of funds analysis and PEP reviews. Our Quality Assurance Leads provided 100% oversight.
The team hit the ground running within just two weeks
The review was completed in nine months, to budget
The work was signed off by the bank at Board level, and the Regulator’s requirements were fully satisfied
The client saved 29% versus the next competitive quote