Operations & Resourcing

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Corporate, Wholesale and Investment Bank

Screening Managed Service for a major European wholesale and investment bank

A European investment bank had a surge in hits from screening and on-going monitoring in relation to PEPs, sanctions and adverse media monitoring.

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The Client
A major European wholesale and investment bank
The Challenge
The firm had a surge in hits from screening and on-going monitoring in relation to Politically Exposed Persons (PEP's), sanctions and adverse media monitoring. This needed to be dealt with swiftly and under the constraints of the COVID-19 lockdown.
The Solution
Lysis created a secure screening and on-going monitoring managed service, based in our City of London Operations Centre and including home working during COVID-19. - The team was deployed and trained rapidly over a period of three weeks and in full production within a month. - The service used the bank's screening tools to screen legal entities and individuals against all global watch lists, sanction lists and PEP lists, as well as screening for adverse media in bulk and individually. - Dedicated Subject Matter Experts (SME's) then managed the alerts including white-listing, false positive management and identification of true positives. - The SME's managed escalation of true positives to the client and the agreement and execution of any mitigating actions, including raising suspicious activity reports (SAR's) as required.
Results
A robust and effective screening and on-going monitoring managed service was provided, which enabled the client to meet is regulatory obligations and deal with the surge in hits. The team was gradually scaled down as the volume of hits subsided.
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