Neha Parmar

Neha Parmar is a senior financial crime compliance professional with multidomain, cross-geographic experience in conceptualising, deploying and managing Anti-Money Laundering (“AML”) programs and practices, including Customer Due Diligence (“CDD”), Transaction Monitoring (“TM”), Sanctions Screening, Institutional Anti-Money Laundering/ Counter-Financing of Terrorism (“AML/CFT”) risk assessments (“IRA”) and related regulatory projects with hands-on experience in building and executing strategic initiatives for the clients.

Neha has extensive experience working with regulators and financial institutions (FIs), including traditional and virtual banks, asset management firms, licensed corporations and payment service providers with local and global footprints. Geographically, she has extensive exposure to a wide variety of international and local regulators as a result of significant experience working with clients based in the United States, Canada, the UK, the Middle East and Asia.

Prior to FTI Consulting, Neha worked in a Big Four firm for six years, where she developed and led the AML and sanctions practice in Hong Kong. She specialises in TM engagements and has helped various FIs in conceptualising and implementing comprehensive TM frameworks; validation reviews, including section 59(2) reviews under the Banking Ordinance; and delivering bespoke AML/CFT solutions in collaboration with member firms. She was also a core contributor in the development of the firm’s machine learning framework and TM-specific AI capability.

Neha has in-house experience at HSBC, where she led a 140-member Customer Activity Monitoring Program (“CAMP”) team for the Middle East and UK operations. She was also responsible for leading the development and standardisation of key procedures, guidelines and performance dashboards delivering stronger controls in line with regulatory requirements.

Neha is an active member of the ACAMS Hong Kong Chapter, the American Chamber of Commerce (“AmCham”), the FTI WIN Committee and the Diversity & Inclusion Committee in Hong Kong.

Relevant Experience:

• Built FTI Consulting’s Managed Service capability to assist clients by improving operational efficiency and enhancing control effectiveness through end-to-end process optimization and automation
• Engaged by a state-owned Chinese bank to conduct a review of the effectiveness of TM systems under Section 59(2) of the Banking Ordinance required by the Hong Kong Monetary Authority (“HKMA”) and provided recommendations to enhance AML/CFT controls and Suspicious Transaction Report (“STR”) filing
• Engaged by numerous financial institutions to assist with AML/CFT programs including Know Your Customer (“KYC")/ Due Diligence remediations, Institutional ML/TF Risk Assessments (“IRAs”), Customer Risk Assessments (“CRAs”) and implement AML governance and policy frameworks
• Led independent assessments of financial institutions to validate the implementation of controls on the back of regulator-issued findings
• Engaged by many Chinese banks to assess the adequacy of policy and procedures of customer screening, transaction screening and monitoring, design and appropriateness of AML framework including systems and quality control framework
• Performed AML compliance reviews for various clients with local and global footprints