The financial services industry is experiencing increased scrutiny, prompting institutions to rapidly evolve their AML and KYC programs. Many firms are struggling to expand their operations accordingly, and addressing these issues calls for new approaches, including adapting a managed services model for AML and KYC functions. This presentation also covers how robotic process automation (RPA) opportunities for AML/KYC functions. For more on a managed services approach on AML and KYC, visit: http://bit.ly/2czFJ1U
The Ultimate Guide to Choosing WordPress Pros and Cons
Implementing Anti-Money Laundering and Know Your Customer Managed Services Solutions using Robotic Process Automation
1. Implementing Anti-Money Laundering and Know
Your Customer Managed Services Solutions
using Robotic Process Automation
David DeLeon, AML Managed Services
Offering Lead, North America, Accenture
Philippe Guiral, Financial Crime Lead,
North America, Accenture
Melanie Hilley, Global Director of Legal
Services for AML and CTF, Accenture
5. Addressing these issues calls for new approaches, including, in
many cases, adapting a managed services model for AML and KYC
functions
5
Access to
Skilled
Talent
Cost
Reduction
Increased
Scalability
Improved
Quality
Scalable and cost
efficient operating
model with a variable
cost structure –
focused on continued
cost reduction
Expedited completion
– leveraging follow-
the-sun capabilities
Access to wider
talent pools and
lower cost locations
Resource flex options
(ramp up/down),
alignment of skill/cost
to work complexity
Embedded training
and development
capabilities
Confidence through
early identification
and feedback
focused on common
issues
Balanced approach
by calibrating
sampling based on
performance (e.g.,
reduced review for
higher performers)
A culture of quality by
incorporating quality
into performance
management
Standard, efficient
and repeatable
approach to
managing AML at
scale
Improved
transparency into
operational
productivity, quality,
and capacity and
forecasting
Building a global
AML/KYC capability
6. Organizations considering migration to this model should focus on
defining their scope and transformation journey
6
AML/KYC Managed Services Suitability
Operational VolumeLow High
Low
High
ProcessComplexity
Client (CDD)
Onboarding
Negative
News
Transaction Monitoring
Investigations
Periodic Review
/ Client Refresh
(CDD)
Politically
Exposed
Persons
1
2
3
5
7
Sanctions & OFAC
(Transactions)
5
Highly Desirable
Potentially Desirable
6
Least Desirable
Transaction Monitoring
Alert Review
Sanctions &
OFAC
(Client)
4
Source: Accenture, September 2016
Scope Selection
Factors
• Increased Suitability
o Lower
complexity
o Higher volume
o Lower AML risk
• Other
Considerations
o Customer
types
o Customer
interaction
points
CDD: Customer Due Diligence
OFAC: Office of Foreign Assets Control