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Mid-Sized Baltic Bank with Regional Operations

To meet regulatory requirements, Exiger provided a comprehensive and fit-for-purpose AML and sanctions risk assessment process and onsite execution support.

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THE CHALLENGE

Public-sector banking in the Baltics was only established in the early 1990’s, and the Baltics banking environment still commonly lacks some of the risk management capabilities expected of major-market and global banks.  Major commercial banks expect their business counterparties to maintain the same risk management standards as they do, which makes it difficult for Baltics banks to be effective market participants.  Developing and maintaining an effective AML / sanctions risk assessment framework is a critical expectation, but not one that can easily be developed in a vacuum.

THE SOLUTION

Exiger helped a mid-sized Baltics area bank understand the major-market requirements of an effective risk assessment framework, and then developed and helped execute a risk assessment process designed to be repeatable, sustainable and capable of withstanding regulatory examination.  The ongoing knowledge transfer regarding the means and methods of developing and conducting the AML and sanctions risk assessments means that Exiger was able to provide not only a sustainable business process, but the industry experience necessary to sustain it effectively and defend it successfully.

THE IMPACT

The client continues to experience regulatory challenges with respect to its legacy business processes, but the comprehensive AML and sanctions risk assessment framework has allowed the bank to demonstrate that they are making risk-based program enhancements based on sound methodology and a consistent risk management process.

6+

Baltic Banks supported in the last 3 years

 

20+

On-site Exiger team members

 

Aligned program with expectations of major USD clearing banks

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