One of the largest US-based Tech commercial banks needed to build out their offshore capabilities in support of their London operation. This included candidate selection, AML/KYC training, coaching on early cases and then QA of their work. This produced a team of fully trained KYC analysts and a newly established offshore capability.
Corporate, Wholesale and Investment Banking
KYC Remediation
The London operation of one of the largest US-based Tech commercial banks.
The client expressed a need to build-out their offshore capabilities for AML/KYC to reduce the cost of supporting their London operations. Lysis was appointed to build-out an offshore KYC capability for the client.
The process included:
Candidate selection – Lysis supported the bank during interviews and also deployed our bespoke benchmarks in the PRISM profiling tool to help identify candidates with the right aptitude for the work. PRISM is a tailored behaviour profiling tool for aptitude selection.
AML/KYC training - This was followed by comprehensive standardised KYC training to the group of potential analysts which was tailored to the unique requirements of the project and included training on the client specific policies, procedures, and processes.
Assessment of learning – an online assessment to test if the trainees had understood and retained the training knowledge. The tests were conducted via an online assessment tool which was specifically configure to assess technical and theoretical knowledge in a bespoke manner.
Coaching on early cases - Lysis also provided dedicated coaching which offered constant support and feedback for the early days of production and developed the capabilities of the analysts to the required standard.
QC/QA of ongoing work – finally Lysis was asked to provide the production QC and QA functions for three months until the bank became self-sufficient.
This produced a team of fully trained analysts that could conduct end-to-end KYC analysis and created an opportunity for the bank to grow this team organically through cross-training. Most importantly, Lysis also made specific recommendations to the client on how to maintain the achieved level of standards. This involved the continuous assessment of their U.K. compliance standards and to implement quality assessments across the team to ensure that standards are maintained as well as ensuring that new policy procedures are absorbed universally across the firm.
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