Our financial crime compliance and rigorous risk management strategies are the key to ensuring client protection in today's complex regulatory landscape.
Our financial crime compliance and rigorous risk management strategies are the key to ensuring client protection in today's complex regulatory landscape.
A leading UK bank asked Mercore Compliance specialists to review their high-risk client base and then establish a BAU unit to oversee ongoing monitoring of the population.
The Mercore Compliance team designed and delivered an end-to-end operating model for the review of the high-risk population. The team reviewed approximately 17,000 EDD files and implemented an extensive customer contact programme. Mercore Compliance also managed the exit process for non-responding customers and those who fell outside the client’s risk appetite. As part of the solution, Mercore Compliance built a bespoke workflow management information system.
The high risk population was fully reviewed within the estimated timeframe. Mercore Compliance transitioned the ongoing monitoring into a standalone BAU unit with more than 80 FTE personnel to oversee the population going forwards.
The bank was aware of Mercore Compliance reputation and expertise in conducting remediation and compliance work for clients worldwide.