About Us

P2 Fin Crime is built on the foundations of P2 Consulting and FS 101, both challengers in their respective markets. By combining the Financial Crime expertise of the FS 101 team with the project and programme management skills of P2 consulting we offer the best solutions to clients without the Big 4 overheads.

What We Do

P2 Fin Crime’s services span the regulatory change lifecycle for Financial Institutions – from advisory and operating model design, to systems evaluation and implementation with a heavy dose of operational performance improvement and remediation along the way.

Insights

Understanding the challenges that keep our clients awake at night is essential. In this section we demonstrate our expertise at solving your problems. We have deep insight into the business and technology issues facing all sectors.

Case Studies

We’ve worked with clients across the sector and have gained excellent results – but don’t just take our word for it. Have a browse through some of the work we’ve done.

P2 Consulting

P2 Consulting is a market leading business transformation consultancy. P2 provides the entire range of consultancy services for organisations engaged in business change. P2 works in partnership with clients to turn their business ambitions into reality, bringing a unique blend of leading-edge thinking and hands-on delivery.

Major Anti-Money Laundering Regulatory Drive
11.05.18
The Challenge

With an increasingly globalised banking landscape and vast networks of branches across multiple locations, many banks have faced problems with financial crime and money laundering, and have been hit with substantial fines from regulators.

Our client had been censured by the banking regulators for failing to have sufficient controls in place to assess from where money flows were coming. As a result, the bank was under the strict surveillance of regulatory authorities. Our client needed to evaluate operational risk and manage exposure to risk in relation to Anti Money Laundering (AML) and sanctions while demonstrating that the appropriate checks and controls were in place.

The Solution

As the programme required a global AML initiative across all business units, P2 Consulting mobilised a team of analysts trained in core banking AML and sanctions regulatory processes. An innovative and agile approach was taken to organise the team structures, with teams representing different geographical regions. All business units were assessed to ensure they had the right systems, policies, procedures and processes in place and were able to run periodic reviews and audits to ensure compliance with AML and sanctions legislation. This discovery and identification work needed to be completed within a very tight deadline to provide timely reports for banking regulators.

Flexibility was key, as the responses from the different business units were not submitted in a uniform way and resources needed to be moved between the different teams in order to cope with the fluctuating workload and meet specific priorities at specific times. We also provided a PMO service to manage the workflow and adopted a Kanban approach in order to track each individual business unit through potentially multiple iterations of review and response.

As the evidence provided by the business units varied in format and content, P2 Consulting needed to develop an assessment process that used both automated and manual checks to process the large volume of data.

We were able to highlight areas of inconsistency between responses and evidence, including areas where year on year variation were unacceptable. These findings were then presented back to the individual business units. The responses back from the business units then had to be carefully analysed to ensure each query could be closed.

Client Benefits

We ensured the bank could demonstrate transparent and thorough AML procedures across global business units and avoid further censure from regulatory authorities. This resulted in minimised risk exposure for our client. Additionally, we had a tight time frame (eight weeks) to review all responses from all of the banks business units which would then enable the bank to meet its target of reporting its risk ratings back to the banking regulators.  Our work ensured the bank could highlight any areas of particular risk and then put in place remedial activity in order to demonstrate to the regulator that the bank was in control of its risks.

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