To support a Tier 1 global investment bank in the review of effectiveness and compliance of the OFAC filters applied to the post-event transaction monitoring process.
What we did:
- Focus on the environment assessing and analysing the AML filters and associated policies, processes and controls
- Support discovery process through identifying areas of improvement against best practice and identifying potential solutions for gaps
- Develop TOM for the AML, filter process (scenarios, technology, org structure, reporting)
- Defined new filtering solutions – quantifying commercial benefits, delivery costs, implementation timeframe, risk profile, dependencies and constraints
- Defined process and control enhancements
- Report derived from assurance activity presented to CEO