<img alt="" src="https://secure.data-insight365.com/782167.png" style="display:none;">
Skip to content

Boosting a Top-Tier Investment Firm’s AML Compliance Team

Key achievements

  • 100% success rate meeting all AML and KYC service targets.
  • Developed future-proof policies and procedures, ensuring ongoing compliance.
  • Strengthened key investor relationships, positioning the firm for continued growth.
  • Enabled the client to capitalise on opportunities in the evolving AIF market.

Challenge

Our client wanted to make sure it maintained high AML standards for its complex AIFs domiciled in Luxembourg, while it underwent an organisational transformation. It also wanted to develop policies and procedures that would enable it to provide its know your customers (KYC) service effectively day-to-day and adapt to shifting demands in the future.

At a time of greater scrutiny from national and international bodies, the risks of financial penalties and reputational damage are heightened. In this environment, higher risk investors increasingly require enhanced due diligence (EDD) which our client had to offer to remain an attractive option. The onus was on us to deliver an expert team that could provide the right support straight away.

Solution

We assembled a team of consultants with deep KYC knowledge that could hit the ground running and keep up the pace to provide effective long-term support.

They worked closely with internal stakeholders to quickly develop an understanding of the firm’s policies and procedures. By combining this with their in-depth knowledge of AML global standards and investment funds, they could deliver the KYC capabilities both regulators and investors needed from day one.

This included effectively applying EDD to global investors in AIFs which are subject to varying regulations, both during the onboarding process and as a critical ongoing service.

To make sure the benefits were embedded in the business, our consultants were integrated into it. This enabled them to use their experience to develop strong relationships with AIF managers, becoming invaluable representatives of the organisation.


Results

By prioritising robust AML compliance, adaptable KYC practices, and enhanced due diligence for high-risk investors, our consultants delivered significant value, helping the client achieve a number of key outcomes. 

They not only surpassed all AML and KYC service targets, but also developed and implemented a new set of future-proof policies and procedures, ensuring robust internal oversight and regulatory compliance.

These accomplishments helped to strengthen key investor relationships and empowered the client to navigate significant internal changes while maintaining a competitive edge within the Alternative Investment Fund (AIF) market.

Recent

More Like This

Rapidly scaling a KYC refresh programme for a multinational Fund Service business

Key achievements Successful migration of our client’s AML- KYC operations function to Dublin Placement of a 70-person team transitioning it into a permanent AML function Improving KYC completion rates by implementing a robust operational structure Challenge Our client, a multinational Fund Administrator and Fund Service business, needed to rapidly scale up its Anti-Money Laundering (AML) team to meet the demands of a KYC Remediation Program to uplift the investor accounts for a large asset manager and key Transfer Agency client. Due to regulatory changes KYC profile of circa 8200 accounts needed to be reviewed/ uplifted. They also wanted to develop a more effective team to handle business-as-usual AML tasks maintaining the highest standards in an ongoing manner.
Read More

Integrating a Specialist KYC Team to Ensure Critical Regulatory Compliance

Key achievements Met regulatory requirements by effectively remediating 1,200 KYC cases. Avoided potential fines associated with non-compliance. Maintained high service standards for existing clients by ensuring uninterrupted service during the remediation process. Contributed to business growth by assisting with new client adoptions. Challenge This leading investment bank was facing mounting pressure to remediate a large number of at-risk KYC (Know Your Customer) files before a regulatory deadline.
Read More

Completion of a Period Review Backlog for a Multinational Financial Institution

Key achievements Successful completion of the Periodic Review backlog by the May 2023 deadline. Deployed 27 consultants, 40% of whom transitioned to permanent staff. Extended team scope to include new KYC system implementation and 2023 review cycle. Challenge A multinational financial institution faced a growing backlog in their KYC Periodic Review (AML) due to stricter regulations and a local talent shortage. Their in-house teams in Dublin and Amsterdam lacked the capacity needed to meticulously review and enhance 1,300 client profiles within six months, to maintain compliance and integrate a new KYC software solution. They also needed to boost their team to deal with ongoing workloads and maintain high standards.
Read More