In our article below, we discuss how our four service lines are helping organisations react decisively to solve these challenges. Is it time for a new approach?
DCM support a large and expanding Financial Service customer base ranging from Global Banks, Challengers, FinTechs, Scale-ups, BaaS providers and Agent and Distributor customers.
We see four re-occurring challenges placing strain on internal functions, blocking growth, and exposing businesses to Financial Crime and Regulatory Risk.
We have identified the four challenges below and talk through how our distinct service lines provide quick intervention and maximum flexibility to solve these challenges.
When regulators mandate remediation, the strain on a compliance program and internal teams is immediately amplified. We know from speaking to our client base that Remediation programmes have become one of the largest operational burdens in time, money and effort.
DCMs Managed service allows us to rapidly mobilise operations in a controlled manner to address Complex Remediations, Periodic Reviews and Backlog Clearance activity.
We deploy mobile multi-skilled production teams with in-built management and oversight capability to deliver full remediation services. This enables delivery of short-term Regulatory Programmes (KYC backlog reviews, S166 Remediation, Dear CEO letters).
Our Tactical team units rotate from project to project to ensure continuity and quality of service. We have the capabilities, experience, and talent network to provide immediate support at scale.
A lack of bandwidth to service a sudden influx of demand is a perennial problem many organisations face. Event driven surges or new Product launches place strain on BAU teams and in-house functions.
Our Standby Service provides quick intervention with maximum flexibility. It’s a temporary injection of AML Compliance support to address short-term demand and processing challenges. It’s easy to activate! We assess the need, agree the team size and duration with our client, and scale up and down as needed. Our expansive Taskforce function allows us to dial-up and dial-down capability on-demand as volume spikes emerge (TM Alerts, Fraud Spikes, KYC Reviews , AML investigation and a surge in Customer on-boarding activity).
Our customer base find this a highly responsive and cost-efficient way to service demand and operational challenges. No Risk. No obligation. No upfront cost! It’s all about being well equipped and ensuring you have critical contingency in place when you need it most.
For Start-ups, and Scale-up businesses, achieving rapid growth is often number 1 priority. Ensuring robust Anti-FinCrime controls, with the appropriate monitoring, assurance and oversight is critical, particularly through early-stage growth.
Our Flexible Compliance Units are parachuted into organisations to bolster in-house functions to enable rapid growth and on-going compliance. It’s a cost-effective and lean approach providing immediate stability and on-the-ground expertise.
Our flexible compliance teams are tactical units of between four-six people comprising interim MLROs, SMEs and Compliance Analysts. Deploying Interim support at peak times saves businesses valuable time and money, compared to the costs involved with full time recruiting and training.
You can scale up during periods of hyper growth and business demand, and scale down once you’ve stabilised and knowledge has been seeded internally.
Our retained advisory services help our customers manage their exposure to Financial Crime Risk and maintain Regulatory Compliance. We mobilise our specialist teams into areas requiring immediate action and remedy.
It could be a particular piece of AML assurance and advisory work, a tactical Policy or Framework build, System testing, or support preparing for a licence application or launch. What we are really focused on is training and developing Financial Crime Compliance (FCC) teams of the future. To upskill, and transfer knowledge, ensuring internals functions can execute their duties and overcome complex challenges with confidence.
Our Taskforce unit has a depth of experience and can help you act quickly to address areas of concern. We bolster internal functions with Interim MLRO coverage & skilled Regulatory expertise to tackle a variety of challenges and emerging threats.
For more information on all our services please get in touch here.