Client Challenge
To support a Tier 1 global investment bank in the execution of a quality assurance review of the implementation of new global policies for Sanctions & AML
What We did
- Focus on the full front to back processes and controls supporting Financial Crime, AML & Sanctions
- Support discovery process through ‘face-to-face’ interviews with executives and SME experts across 10 countries
- Establish holistic assessment of effectiveness of policy implementation cross four business lines in 62 countries
- Mitigate/resolve findings raised by independent managers
- Qualify self-identified policy gaps for accuracy, reasonableness and completeness
- Escalate areas of non-compliance to Line of Business head in global locations
Outcome & Results
- Report derived from assurance activity presented to CEO
- This report covered:
- Existing gaps between risk exposure and risk appetite
- Propose call to action to close existing gaps
- Suggested changes to the existing operating model