End-to-End Assessment of Global Financial Crime Framework for One of the Largest UK Inbound Banks

Situation

Following several high-profile mergers and acquisitions, this global bank required an end-to- end assessment of their UK financial crime framework covering several discrete business lines. The main driver was a general lack of a broader understanding of risks and priorities to develop a pro-active and coherent financial crime compliance strategy.

Our Role

Our team led the review of a framework that was highly fragmented which consisted of multiple operating models, systems and controls covering the various underlying business units. We conducted a truly global review across several business lines to align with the UK business strategy. We worked in close collaboration with the firm to ensure they fully understood all elements of the assessment and the root cause of major findings. We have leveraged our AML review framework to test and benchmark each component to support the firm with building a structured response to each recommendation made.

Our Impact

Our tangible recommendations were extremely well received and formed the foundation of the firm’s financial crime transformation agenda. As a result, we were asked to actively support the firm with regulator engagement on both the findings and remediation plan.