A lot of this work is driven by visits from the FCA and other regulators or by firms seeking new regulatory provisions. Typical projects include:
In order to enable Senior Managers to attest that their areas of responsibility are being conducted properly and are compliant with all necessary laws the firm will need to invest time in making sure that processes are properly mapped and understood and that controls are effective. This will be a particular challenge where parts of a process are outsourced or executed by another group entity.
Banks should focus on improving the clarity, process and documentation of their existing governance framework rather than building a parallel framework just to comply with the new regime.
Lysis can assist with:
Across the Lysis team we have in excess of two hundred man-years experience of shaping, designing and implementing Client On-Boarding (COB), Know Your Customer (KYC) and Anti-Money Laundering (AML) Transaction Monitoring frameworks and target operating models for global financial institutions.
Our experience includes:
Lysis Operations delivers high-quality and cost-effective KYC, AML and Client On-Boarding processing and remediation services to major investment banks, asset managers and hedge funds.
Our training arm, Lysis Academy, provides robust training in KYC and AML processing and remediation for our own staff and our clients’ in-house KYC and Client On-Boarding teams.
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