Anti-Money Laundering / Know Your Customer Risk Assessment
UK Headquartered Global Bank

One of the Gracechurch Co-Founders was engaged by a UK Headquartered global bank to conduct an annual Anti-Money Laundering (AML) / Know Your Customer (KYC) Risk Assessment as part the Bank’s response to a Deferred Prosecution Agreement. The associated programme required the establishment and management of a team of 30 AML/KYC professionals through four phases of activity;

• Data Collection – creation of an online risk assessment questionnaire, and provision of completion support to circa 200 assessment units, globally;

• Data Validation – validation of submitted questionnaires and management of data exceptions through to resolution;

• Risk Rating – calculation of inherent risk at both an assessment unit level and country level, utilising the bank’s in-house risk assessment methodology and risk rating engine;

• Report Production – drafting of AML / KYC Risk Assessment Reports for individual assessment units, Countries, and also at an enterprise level for Group Board approval.  

The success of the initial engagement was evidenced by the bank’s retention of the Gracechurch Co-Founder to conduct subsequent year’s annual AML / KYC Risk Assessments.