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.

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.

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.

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.

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.

Financial Crime Control Gaps

P2 helped a UK challenger bank fully understand their financial crime risks, controls, threats, and opportunities.

20.04.22
Business challenge

Following the receipt of a ‘Dear CEO’ letter the FCA sent out to all financial institutions voicing concerns about financial crime controls, our client, a medium sized challenger bank conducted an internal audit review in conjunction with a big four consultancy. It unearthed concerns about controls and the fact they needed enhancement to ensure they were fit for purpose to protect the bank and its clients from financial crime.

The main areas of concern were around business-wide financial crime risk assessment (BWFCRA) and customer risk assessment (CRA). The client was looking for a short, focused piece of work, without compromising quality to meet the deadlines imposed by the FCA’s letter.

Our solution

City of London skylineP2 was brought in due to its extensive financial crime experience, track record and ability to design, document and conduct both BWFCRA and CRA in line with regulatory requirements and internal standards and policy frameworks. The risk assessments P2 conducted were bespoke and met the needs and complexity of the client’s customers, products and services.

P2 evaluated the existing approach and then developed a strategy to cover the two areas. With the BWFCRA, they evaluated the current model, agreed the future model and designed and built an approach in line with the risk frameworks. P2 worked with client controls and the IT teams to get ready for go live. The P2 team also prepared all documentation for review and ensured internal standards were met.

P2 conducted a similar process for the CRA – evaluated the model that was in place, agreed the future model and then designed and built the CRA approach, which included data sample and modelling results.

P2 provided a breakdown of requirements, defined the roles, responsibilities and outputs. P2 also documented a step-by-step process document to allow the client to conduct these risk assessments as business as usual (BAU), along with pointers on how they could be developed over the coming years to further enhance the output.

The benefits
  • Confidence in regulatory adherence: with the compliance risk assessments, the methodology was reconciled back to the regulatory requirements giving the bank the confidence they are being met.
  • Ongoing improvement: P2’s view and plan on takes in how to evolve the risk assessment over the coming years to deliver ongoing efficiency in the process and approach.
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