Implementing a Compliance Surge Team

Case Study Surge

A leading Canadian bank rapidly implements a surge team to process files as part of a new acquisition. 

SITUATION

Our client acquired a U.S. based capital markets company and required a surge team to augment Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures. They needed to process new client files with a tight deadline to meet acquisition related compliance requirements. Our client engaged us to provide:

  • Assistance with the selection, on-boarding, training, and performance management of a team of 25 to report on ‘day one’
  • Processing of over 12,000 client files within 5 months 
  • Reliable, high-touch communication throughout the engagement to ensure all files were properly vetted and the strict acquisition deadline was met 

SOLUTION

Prior to the start date, our team worked closely with the client’s key stakeholders to gain a thorough understanding of the engagement requirements and to develop a ramp-up timeline for project kick-off. We partnered with our client to provide a cohesive launch and execution plan, including establishing an overall governance model and delivery plan. 

Deliverables included:

  • Communications plan with daily, weekly and monthly performance tracking
  • On-boarding plan and training curriculum
  • Performance management framework and roadmap for weekly performance reporting
  • Retention management and team building exercises
  • Work summary and financial burn down reporting on a weekly basis

Given the critical nature of our client’s deadline, we also provided high-touch team, client and engagement management daily to achieve compliance objectives.

Mobilized 25 Consultants in Two Weeks, Completing Project 30% Under Budget

RESULT

We deployed 30 qualified consultants within two weeks to establish the team of 25, meet the project’s start date, and complete the entire initiative on time and 30% under budget. As a result of our support, our client’s customer files were successfully reviewed, vetted, and uploaded into the appropriate AML/KYC systems by the target date. As the work was completed and targets reassessed, the team was optimized based upon regular team performance reviews. Additionally, we assisted with residual work once the initial objectives were successfully met, downsizing the team to meet the client needs for an additional six months.