Financial institutions are highly regulated, demanding extensive compliance programs to meet both legal and regulatory requirements. A proactive compliance program can help an institution mitigate financial crime risks, conflicts of interest, regulatory or litigation concerns, and other improper activity. Consequences of noncompliance with regulatory requirements can be severe, resulting in legal action, fines, and operational and reputational risk.
Guidehouse works with organizations and counsel - around the globe - to assess the adequacy of compliance programs and related processes. We help develop and implement robust, risk-based financial crime compliance programs with a focus on anti-money laundering (AML), anti-bribery and corruption, sanctions, know-your-customer (KYC), and other due diligence processes. Our experts utilize their unsurpassed knowledge of financial crime, evolving rules and regulations, and technology to help clients holistically evaluate and enhance their financial crime compliance program effectiveness and efficiency.
Transaction Monitoring & Sanctions Lookback
Guidehouse professionals possess a deep expertise and significant experience performing Bank Secrecy Act/AML and sanctions remediation projects, including large-scale lookbacks. Our depth of financial crime compliance experience is leveraged across engagements, including transaction monitoring lookbacks, Office of Foreign Assets Control/sanctions lookbacks, and other historical transactional reviews. We partner with clients to remediate suspicious activity, support regulatory reporting, and clear historical alerts requiring redispositioning due to regulatory concerns or other reasons. Our team will assist with data preparation, enhancement and validation, alert-screening and dispositioning, and ultimate reporting of findings or results.
Guidehouse’s team of experts includes former compliance officers, financial regulators, and investigators who have developed, drafted, and implemented KYC and customer due diligence programs (CDD). This firsthand experience in understanding how such rules and regulations are most effectively operationalized is valuable in helping clients with implementing and operationalizing pragmatic KYC/CDD programs with respect to their specific risks and clientele. We have extensive experience and proprietary technology to expedite large-scale CDD remediation and uplift engagements, helping clients enhance customer files to better meet regulatory expectations and industry best practices.
Managed Services & Staff Augmentation
Guidehouse offers both managed and staff augmentation services that combine industry expertise, tools, and proprietary technology to drive operational excellence. Our managed services programs are tailored to the complexity of the services and offered on a long-term basis, while our staff augmentation services are typically shorter-term. We can operate an entire compliance function with your oversight, or simply augment your staff by providing supplemental resources, offering flexibility and scale to overcome temporary challenges or surges in activity. We can also help you improve program efficiency and effectiveness, while maintaining quality and creating a seamless experience for your management team and customers.
Compliance Technology Implementation Services & Model Validation
Guidehouse helps many leading financial institutions assess, implement, manage, and measure their compliance systems and processes to improve the quality, efficiency, and value of their compliance technological operations. As an independent and objective advisor, Guidehouse’s market-focused and operationally driven offerings provide clients with proven methodologies and operating models to reduce cost and risk while increasing effectiveness. Guidehouse’s AML experts help companies quickly understand, identify, and solve technology challenges that may adversely affect their business, including noncompliance, security risks, and resource mismanagement.
We perform end-to-end, including pre- and post-implementation model validations, driven by the institution’s risk assessment. We review model effectiveness and efficiency, assess model configuration, evaluate tuning and recalibration methodology, and validate and review model data accuracy, data integrity, and data completeness.
Guidehouse experts deploy a robust set of tools to test the effectiveness of financial crime compliance programs. As an independent firm, we regularly assist institutions’ evaluations of the effectiveness of their programs and provide findings and recommendations for stronger controls as needed. We combine a deep understanding of a financial institution’s financial crime risk and complexity, with the requirements and expectations of regulators and law enforcement, to test and assess even the most complex programs.
Policy & Procedure Design & Drafting
Effective policies and procedures to address financial crime risk must be targeted, detailed, followed, and updated with the appropriate frequency. Guidehouse experts’ deep legal and regulatory experience enables us to partner with your employees to review policies, procedures, and other governing documents around pertinent systems and processes. Further, we can document actionable recommendations to facilitate and expedite the program’s development or enhancement.