Case Study: Enhancement of AML Governance Framework & KYC Remediation

A major Global wholesale and retail bank with global reach.

  • Worked with board members and senior management to review the firm’s processes and controls from an AML perspective
  • Development of the Financial Crime Escalation Committee
  • Successfully implementation of AML
  • Engineering of the structure of the new KYC department

The Client

A major Global wholesale and retail bank with global reach.

The Challenge

The firm identified deficiencies it is AML Governance Framework along with its KYC Operations

The Solution

  • Lysis worked with board members and senior management to review the firms processes and controls from an AML perspective.
  • Lysis produced and developed new policies and procedures from an AML perspective covering Client onboarding/Off-boarding and KYC, Trade Finance, Treasury Services, Politically Exposed Persons as well as sanctions.
  • Development of the Financial Crime Escalation Committee providing governance around AML and Financial Crime at a board and senior management level.
  • Successfully implementation of AML including policy, procedures and training.
  • Engineering of the structure of the new KYC department as well as providing on-going KYC and QA support.

The Outcome

  • A fully documented AML and KYC governance framework.
  • Enhanced policies and procedures design to suit the needs of the business as well as ensure on-going compliance to UK regulations.
  • On-boarding efficiency was maximised by application of the agreed procedure.
  • An efficient and dynamic KYC department able to meet the demands of the business.