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Financial Crime
Financial services
Financial services

Financial Crime

Financial institutions are engaged in a constant battle to fight money laundering, bribery, fraud and corruption and adhere to sanctions levied against countries and individuals. Anti-financial crime processes are not only necessary from a business and reputational perspective – they are a regulatory imperative. Financial institutions – and in some cases individuals – can be held criminally accountable for not adhering to financial crime regulations.

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Luke Firmin
Partner, Financial Crime

Working with you in the fight against financial crime

At Valcon, we have deep financial crime expertise.  We have worked on some of the largest financial crime regulatory programmes across Europe, the Americas and AsiaPac. Our services span the financial crime lifecycle – from strategic advice and operating model design to systems evaluation and implementation, as well as supporting our clients in avoiding and responding to regulatory enforcement. We work with you to identify gaps in your financial control frameworks, perform remediation and fix forward to ensure financial crime controls are optimum and regulations are adhered to.

Valcon’s financial crime services include:

Regulatory enquiries and enforcement (e.g. FCA s166)

We can help you prepare for and respond to regulatory enquiries relating to financial crime. Being proactive and getting your communication right will set the tone for your future relationship with the regulator and help ensure your objectives are aligned with theirs.

AML/Sanctions/KYC Platform Selection, Tuning, Integration and Testing

It is often difficult to ascertain which solution will solve your financial crime challenges, but an independent perspective is highly beneficial, not only in selection but optimising the performance of your financial crime platforms. This includes sanctions alert testing and calibration.

Strategy and Advisory Services

We work with you to develop your strategic approach to meeting financial crime standards, processes, procedures and business objectives related to beating financial crime. Our assessment tools can identify where the weaknesses and gaps are in your financial crime controls and provide recommendations to inform your financial crime strategy, and to meet regulatory compliance.

Target Operating Model Design, Improvement and Execution

Without the right Target Operating Model in place, regulatory adherence will be a tough call and you may be wasting valuable resources. The right blend of people, processes, systems and controls have to be aligned for your financial crime programme to work cohesively.

Financial Crime Risk Assessments

Ensuring you identify and quantify both organisation wide and customer level risks accurately will enable you to apply a proportionate and effective approach to mitigating and preventing financial crime. We can help with the design and build of your enterprise wide and customer level risk assessments as well as the methodology required to articulate the alignment between risk-appetite, regulatory requirements and the risk assessment approach.

Regulatory Remediation Support

We design, oversee and lead remediation engagements, utilising cost saving technology solutions to achieve your remediation goals.

PM/PMO/Assurance for Financial Crime Programmes

Having an independent PMO within a financial crime programme holds the delivery teams to account, providing insights and automated reporting so that the decision makers can focus on what the data is telling us versus whether the data is right.