Case Study
Enhancing Anti-Money Laundering capabilities and security for the bank and their valued customers.
Our client, a prominent financial institutions in the UK and Northern Ireland, aimed to deliver on regulatory commitments made to the FCA (Financial Conduct Authority) and the CBI (Central Bank of Ireland) regarding their KYC (Know Your Customer) responsibilities.
They sought to improve their Anti-Money Laundering (AML) controls, streamline Customer Due Diligence (CDD) operations, and reduce operational risks, while enhancing customer service, product offerings, and overall security.
We re-designed the strategic end-to-end Periodic Review and Event Driven Review process, leading to better accuracy, speed, and control of the banks’ AFC (Anti-Financial Crime) controls. We streamlined CDD operations for First Line of Defence (FLoD) teams, reducing operational resource, effort, and costs.
Additionally, we implemented an agreed ownership structure for all outsourced transaction monitoring activities, appointing ownership to appropriate stakeholders with clear roles and responsibilities, which in turn reduced operational risk and improved AFC control measures.
Our efforts significantly enhanced the bank’s AML capabilities, ensuring adherence to regulatory commitments and strengthening security for the banks and their customers. The improved processes and controls led to cost savings, which could be allocated towards bettering customer service and product offerings, as well as supporting the banks’ growth
These advancements not only protected the bank, their customers, and their reputation, but also contributed to their ongoing success in the competitive financial landscape.
Piovis's strong interpersonal skills enabled them to manage a diverse range of stakeholders with conflicting interests, to build on interdependencies and reach consensus and agreement. They demonstrate seamless management of multiple cross divisional stakeholders at differing levels within the organisation, whilst focusing on their key deliverables to ensure the project requirements were achieved. They have the flexibility to adapt his leadership and personal impact style to suit the personality of individuals or the situation. Piovis is a pleasure to work with, I would definitely welcome the opportunity to work with them again in the future.
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