- The GBM division of a Tier 1 Canadian Bank had a KYC backlog of trading clients – globally, requiring immediate uplifting for AML regulations.
- They also required assistance ensuring all counterparties held the appropriate trading documentation where applicable e.g. Dodd-Frank, Initial Margin, ISDA etc.
- Built a 25 person team, working onsite at the clients Toronto office.
- Carried out a data enrichment exercise to streamline the list of in-scope clients and associated products ahead of outreach and customer reference data collection.
- Analysed all customer data received, ensuring compliance with multiple global KYC policies (APAC, US and UK) and trading regulations.
- Ensured all data and documentation was accurately stored on Fenergo, their chosen vendor for their KYC workflow.
The results we achieved:
Remediation AML uplift completed for 10,000 client files.
Efficiency The first derivative’s team met all deliverables ahead of deadline.
Quality QA embedded across all remedial activity.