Business Issue
The bank engaged fscom to review and develop their existing Financial Crime infrastructure. Specifically, they required a practical tailored compliance solution that addressed both their immediate regulatory concerns following an FCA visit and, more widely, their BAU Financial Crime infrastructure, including the practical implementation of recommendations.
Solution
fscom provided a thorough appraisal of the existing financial crime infrastructure by way of business risk impact assessment, including a review of previous FCA findings. We developed and delivered a robust financial crime framework with appropriate systems and controls to support the risk infrastructure and practically implemented the recommendations tailored to the business' needs.
Benefits
Through the deliverance of a robust financial crime framework, the client was able best able to ensure maximum oversight of the Financial Crime regime and receive expert guidance that was practical and straightforward. Key personnel were supported to understand the regulatory requirements and fscom transferred knowledge in order to embed a sound internal framework.
Client
Feedback
The client was pleased with fscom's work and said the updated financial crime framework covered both the strategic and operational elements within their business model. They commended fscom's detailed knowledge of the regulatory requirements.
