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.
