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About Us

P2 FinCrime 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.

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What We Do

P2 FinCrime’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.

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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.

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Ask the Expert

In the first of our ‘Ask the Expert’ series, Phil Rolfe, P2 Consulting’s CEO, interviews financial crime and compliance expert Peter Hazlewood.

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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.

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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.

Financial Crime Client Risk Assessment

Based on our recent relevant experience P2 FinCrime were asked to support a tier 2 UK bank

14.02.20
The Situaton
  • Following a regulatory review it had been highlighted that the organisation did not have an up to date risk view of its client base
  • The regulator had put the organisation under pressure to resolve this situation and had put restrictions on new business.
Issues
  • The organisation had a static risk rating that relied upon several unconnected risk factors which were open to interpretation
  • The resulting risk score was hard to reconcile and lacked evidence
  • There was a lack of consistency in scoring and thus a lack of confidence in results.
How P2 FinCrime helped
  • Reviewed the existing process and approach in order to establish existing data that could be re used
  • Defined the key elements of a common CRA tool and built out a proof of concept to test the approach with users and stakeholders
  • Each division was reviewed in isolation taking into consideration the differing risk factors of their core clients
  • Having established the minimum data required for a compliant score we engaged Technology to agree on the source of data points
  • Working with front office, compliance, operations, and technology the inputs and outputs were tested and approved
  • Controls were designed to ensure data was robust and exception reports used to seek anomalies
  • An audit trail was established for the CRA scores so that internal and external stakeholders could understand and test outputs
  • All processes, controls, documentation, and approaches were logged and handed over to BAU for ongoing running.
The Outcome
  • The entire customer book was re-rated and new scores loaded onto the core banking platform
  • As a result, a number of customers were downgraded from high to medium or low and some were upgraded to medium or high based on approved data inputs
  • A small number of New High-Risk customers were prioritised for immediate event-driven reviews
  • Periodic Review schedules were re-worked to align to the new risk profiles with a drop in overall demand
  • The regulatory finding was closed once evidence had been reviewed and assurance completed by 2LOD.
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