This top big 5 and its subsidiaries are committed to detecting and deterring persons engaged in money laundering or terrorist financing from using its products or services. They are equally committed to compliance with economic sanctions laws and regulations. This commitment is honored through the establishment of an enterprise-wide Anti-Money Laundering / Anti-Terrorist Financing (AML/ATF) and Sanctions risk and compliance management program (Global AML Program) that is designed to detect and report suspected money laundering and terrorist financing and activity prohibited by sanctions.

The bank and its subsidiaries have over 89,000 employees and over 26 million clients worldwide. In Canada, the bank serves more than 11 million customers at over 1,091 branches.

With current compliance systems not able to identify potential high risk scenarios as well as inability to file STR’s within specified allowable time period to FINTRAC, the bank needed a platform and expertise to help creating extensive tailored scenarios applicable to its lines of business as well as ability to file STRs in a timely manner directly to fintrac.

We completed a solutions analysis to identify a potential solution that had the functionalities we were looking for. A right fit solution was identified. This solution included functions which enabled the financial institution implement an enhanced risk assessment procedure, identify high risk scenarios, enhanced due diligence procedures, continuous and ongoing monitoring of individuals depending on the system identified risk level of the client and ability to file suspicious transactions reports (STRs) as well as unusual transaction reports (UTRs) directly to FINTRAC/FINCEN.

We worked directly with the financial institutions business partners and the application development team in gathering and documenting the business requirements and business process problems as it related to transaction monitoring which includes AML, CDD, VSD and ECRR.
Prepared spreadsheets for informational and analysis trends as well as providing analytical support in the implementation of new processes and systems.
Coordinated and consolidated data from numerous sources, made recommendations, and negotiated agreements where conflicts exist in the data or business processes.

With the implementation of the upgraded solution the bank was able to remain complaint with the regulators within the specified allowable time frame while addressing all deficiencies outlined thereby saving the bank up to $190million dollars in potential fines from the regulators.

The new solution also enhanced employee procedure allowing an increase in employee productivity by up to 55%.

Where existing business analysts need additional help or support, Synergy one consulting provides a number of offerings to address common needs.

CBAP EXCLUSIVE

Appropriate for those preparing for the CBAP examination who have identified knowledge gaps, this package include a self-assessment mock exam, a one-on-one half-day session, up to two hours of telephone coaching, and email support until the candidate writes the CBAP exam.

TRAINING EXCLUSIVE

Need to upgrade a knowledge area of skill but don’t want to attend a traditional course? This one-on-one package can range form one day to a full six-day session. Services can be provided on-site or virtually. You can choose topics from almost any of our listed courses.

CAREER ACCELERATOR

This offering includes one-on-one coaching for business analysts who have already attended our courses or who have achieved their CBAP (or similar) accreditation and who want to stimulate their career progress. This is intensive, customized coaching that can range from one to twelve months in duration. It typically includes:

• Career assessment and goals.
• Career development plan.
• Review and discussion of your project plans, schedules, risk registers to propel you for promotion and recognition
• One hour of coaching each week (via telephone, Skype, or in person).