Resourcing an AML team | Work

We quickly produced, assessed and on-boarded a team of AML experts to upscale the team of a European bank

The challenge

Our client, a branch of a foreign bank, needed to respond to a Section 166 from the FCA, by upscaling its Anti Money Laundering team. We needed to source a number of experienced file reviewers

They needed to review a number of samples, and the highest risk cases needed to be identified, based on several risk factors including:

The perceived level of risk of the client, e.g. location, firm type, business profile, from the following categories:

The risk category was assigned, following the AML due diligence e.g. medium or high risk
Cases where specific risk flags were identified e.g. PEPs or adverse media
Cases that were a decision was required to confirm the risk category e.g. where a decision was taken to accept a client despite AML risk flags

Our approach

We have a robust bank of Anti Money Laundering and KYC contract candidates, and we have also noted in the past that there is a strong network of recommendations amongst individuals with this experience. We asked for recommendations and networked

We held an assessment day where we invited a number of ‘new to us’ candidates to come in and interview, after which we were able to offer them the roles. In addition, we were able to supply several candidates with whom we had worked before, with great feedback

The outcome

Our client was delighted with the calibre of candidates that we presented, and our team carried out the work successfully. Several of them had their contracts extended