Case Study
Strengthening the compliance and risk management for sustainable success of a Tier 2 bank.
This prominent global financial services provider, aimed to enhance their Anti-Financial Crime (AFC) and compliance capabilities within their Investment Banking division in the UK. Their objective was to ensure adherence to risk appetites, maintain a strong reputation, and effectively manage regulatory developments.
Our team developed and introduced Risk Appetite Statements based on operational capacity, reputational risk, and peer bank considerations. We implemented KPI thresholds and recovery plans to ensure that the Investment Banking division remained compliant. We chaired objective-oriented AFC working groups, informing and advising senior business and compliance stakeholders on priority problem areas and regulatory developments requiring attention.
We directed 14 first-line business and second-line AFC resources across the UK, USA, and India, resolving a backlog of Periodic Reviews within the agreed timelines using an operational capacity management plan. Additionally, we supported AFC Private Banking (PB) and Investment Banking (IB) director-level coverage leads with management information reporting and major updates feeding into the Money Laundering Reporting Officer (MLRO).
Our collaboration with this leading bank resulted in a strengthened AFC and compliance framework within their Investment Banking division. By introducing RAS and implementing KPI thresholds and recovery plans, we ensured that the division operated within the established risk appetite, promoting long-term success and stability.
Our work facilitated effective management of regulatory developments and problem areas, protecting the bank’s reputation and ensuring compliance with industry standards. Ultimately, our efforts contributed to the client’s continued growth and competitive positioning in the financial market, benefiting customers, stakeholders, and shareholders alike.
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. Has the flexibility to adapt their 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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