Experience That Makes a Difference
We work with our clients to help plan, organize, design, and develop infrastructures to support governance, risk, and compliance structures. This includes reporting templates, control frameworks, responding to situations of noncompliance, and improvement of the processes regarding operational effectiveness and information systems.
Our team is comprised of former regulator(s) and industry specialists with expertise in risk management areas such as compliance, fraud, audit and internal controls, technology, process improvement and model review and validation.
Process-Driven Technology
Our goal is to ensure compliance while eliminating waste—wasted time, wasted resources, wasted money. While every institution has unique processes, we pride ourselves on customizing our process to your needs. Our Lean Kaizen approach and Six Sigma expertise enables streamlined procedures and added efficiency for bottom-line results.
Efficient systems rely on process-driven technology. Our custom system solutions mirror AML processes, focusing the power of big data technologies and advanced analytics to identify, investigate, and combat money laundering and fraud with integrated solutions. Whether it’s assessing and revamping internal Know Your Customer procedures or using big data to help financial institutions transform their AML operations, the Alacer team has the tools and knowledge to successfully complete projects, on time and on budget.
SERVICES & EXPERTISE
- Regulatory risk management
- Operational risk management
- Enterprise risk management
- Financial investigations
- Fraud risk management
- Compliance
- Audit and internal controls
- Program Development, Implementation, or Enhancement
- Development of risk assessments
- Performance of risk and control GAP assessment
- AML metrics and reporting design
- Acquisition due diligence and risk assessment
- Customer risk assessment model design and review
- Customer risk rating and risk factor review
- Training, policy & procedure development
- AML technology solutions (monitoring software / case management tools)
- AML Program Examination, Testing, and Remediation
- Regulatory enforcement and legal order remediation
- Independent audit and testing
- Offshore bank AML reviews for U.S. counterparties
- Examination management
- Examination response
- Issues tracking and enforcement action remediation
- Fraud risk assessment
- Design and implementation of comprehensive risk management programs
- Program Component Enhancement
- Trade-based AML review
- Offshore subsidiary KYC file review
- OFAC program review
- Account opening and renewal process design and standards
- Review procedures and templates
- RFI process design, procedures, metrics, and reporting
- QC and compliance testing program design and review
- SAR workflow, quality, and data analysis
- Policies and procedures development / implementation / review
- Design and delivery of training programs for management, and employee file
The Alacer Team’s Specialized AML Experience
Counseled governments on regulations, guidelines, investigations, and reporting of money laundering, terrorist financing and fraud.
Advised senior compliance and AML staff on regulatory and AML operations matters
Served as BSA/AML Examiner-In-Charge and Senior Risk Specialist in the Federal Reserve Bank of New York
Developed and customized case management and KYC system solutions
Investigated multibillion dollar money laundering schemes
Deployed and managed Transaction Monitoring and KYC remediation teams
The Alacer Approach
Internal Operating Environment
Board and senior management oversight (i.e., tone at the top)
Board and senior management risk appetite
Relationship with regulators
Risk management and control functions (three lines of defense)
Governance and Oversight Structure
Board and senior management committee structures and effectiveness
Policies and procedures
Role, responsibilities, organizational structure, and independence
Accuracy, adequacy, and completeness of reporting to support governance and oversight
Risk Management
Risk control and mitigation strategies
Risk identification, measurement, monitoring, and reporting (including capital adequacy [CCAR] and stress testing)
Control Functions, (Audit, Compliance Monitoring and Testing, and Model Validation)
Risk assessment
Planning, scoping, and reporting
Issue management (identification, prioritization and timely resolution)
Resource allocation
Independence and objectivity
