Operations & Resourcing

Building out offshore capabilities and KYC Remediation

A major global bank approached Lysis to assist them with the implementation of a remedial programme o enable the client to meet their regulatory obligations arising from an FSA-imposed deadline.

The Client

A major global bank.

The Challenge

• Implementation of a remediation programme to enable the client to meet their regulatory obligations arising from an FSA-imposed deadline.

• The client had a portfolio of 15,000 clients comprising of various client types (including Corporate, Banks, Hedge Funds, Fund Managers etc.) which were in a wide geographical area and mostly classified as medium risk.

• There was a specific timeframe of 17 months.

The Solution

  • Lysis and the client agreed on the remediation standards that were applied and the creation of process documentation and training material that were required.
  • Lysis trained and deployed 120 resources which were split between on-shore (15) and off-shore (105) to re-paper and uplifted each client in the portfolio in accordance with the approved anti-money laundering (AML) governance standards.
  • Lysis also deployed a bespoke workflow tool to manage the process, control case management for the team and provided Management Information (MI).
  • Developed a detailed capacity plans and monthly targets and managed the process within those parameters to ensure deadlines were met.

• The client’s existing on-boarding team were able to focus on core business-as-usual (BAU)AML activities.

• The previously un-reviewed client portfolio was uplifted to the approved AML governance standard which meant that the client’s regulatory obligations were fully met.

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