Reducing the Risks and Costs of Regulatory Compliance

International Banking Group

In 2015, an acquisition focused organization acquired an FI with operations in six countries, several of which rank among the fastest growing countries by GDP in the world. The investors needed to assess their new acquisition for compliance with American legislative obligations.

Approach

To expedite the assessment process and rapidly deliver an evaluation of the FI’s AML process capabilities and the extent to which they were culturally embedded, the Mizen Suite of diagnostic tools was utilized:

  • Compliance Process Diagnostic
  • Compliance Culture Diagnostic

Results

With full cooperation by the FI, Mizen:

  • Completed the assessment within 15 days
  • Far exceeded the expectations of the client by providing critical output and data as well as critical input into the subsequent remediation program
  • Identified significant variation across all six countries with their diverse teams and operations

Confirmed this disparity with the accumulated data and identified a number of key findings that influenced subsequent work on the remediation program and training activities

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