You might have seen the recent press release regarding Lysis Group opening a near-shore Client Lifecycle Management (CLM)/Anti-money laundering (AML) Operations Centre in Cape Town, South Africa.  This is a very exciting moment for us because it strengthens our service capabilities even further in terms of coverage, cost-effectiveness, and manpower.

The benefits of on-shore and near-shore resourcing Our extensive level of experience indicates that for many clients the optimum balance of cost effectiveness, efficiency, and quality is achieved by using an on-shore/near-shore model.

This model provides highly cost-effective expert financial crime execution services including customer on-boarding, customer due diligence, sanctions and PEP/adverse media screening and transaction monitoring and a typical team structure for CLM/AML operations is 20% on-shore and 80% near-shore. In fact, our high-quality near-shore resources can be as little as 50% of our competitive on-shore rates.

All our staff, on a global scale, undergo the same rigorous training, assessment and certification process and we also train and certify our staff on our clients’ policies and procedures, prior to client work deployment.  We are always ready to assist clients and therefore have on-shore and near-shore teams available to deploy these capabilities, either together or separately. Our high quality, cost-effective on-shore/near-shore model A drastic increase in demand

We are seeing a big uptick in work, both for our AML execution services and our advisory services, due to the tightening sanctions on Russia.  Many of our customers are finding that whilst sanctions might appear simple and binary on the surface, the need to identify ‘control-by’ and ‘links-to’ sanctioned firms and individuals, coupled with the reputational risk connected to dealings with Russian firms and individuals who might still be sanctioned, is causing a significant disruption to normal business operations.

To complicate matters further, we are seeing framework changes such as reviews of risk appetite and risk assessments significantly impacting operations. The problem though, is that firms do not always have the necessary expertise ready to deal with these changes and risks internally. Addressing emerging risk through quick interventions, as well as continuing to carefully plan and implement a sustainable approach to CLM/AML compliance, will ensure that your firm remains effective in managing known and emerging risks and keep the costs of compliance under control.

The Lysis Group provides the right blend of skills, expertise, and resources and is ready to help you achieve just that.