WHAT THEY NEEDED

A comprehensive due diligence and risk review, conducted by an experienced team of analysts, which included bilingual speakers fluent in Mandarin, Korean, Russian and Japanese, across a broad range of high risk client accounts.

HOW WE HELPED

Momenta sourced a team of 30 qualified and experienced senior analysts to support the business in a number of crucial risk review activities, including:

  • Investigative research on prospective clients
  • Checking specific customer information (and transactions) and account documents to research and resolve issues
  • Analyse existing clients source of wealth, beneficial ownership and other risk information inc. hedge funds, mutual funds, SPV & PIV, trusts, private companies, partnerships, financial institutions, government entities, charities and pension accounts
  • Running daily surveillance of client accounts for anomalous, high risk or negative information
  • Liaising with Risk, Operations, and Technology teams & external vendors regarding due diligence and other information requests
  • Supporting core functions of the KYC Unit on media surveillance, sanctions list screening and due diligence policies and procedures.

THE RESULT

At the completion of the project, all customers who suffered financial detriment received compensation in accordance with both the client’s values and the Regulator’s requirements. As a result of the successful delivery of this project Momenta was awarded two further contracts – both of which have been delivered on time and on budget, and were viewed by the client as ‘model’ remediation projects.