Risk Review for an International Private Bank

The challenge:

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.

Our solution:

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 outcome:

  • 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