01.
The Challenge
Faced with a growing backlog of Enhanced Due Diligence (EDD) reviews, the Client struggled to onboard new customers promptly while also drawing regulatory scrutiny. Inefficiencies in processes, staffing, and productivity created challenges in meeting business and compliance goals, necessitating a strategic approach to improve review quality and reduce risk.
RGP deployed AML/KYC experts to help remediate outstanding cases while developing scalable long-term solutions. Utilizing advanced analytics, RGP assessed pipeline trends, identifying areas for improvement and guiding data-driven recommendations to enhance efficiency and compliance.
02.
The Solution
RGP deployed a team of former JPMorgan Chase AML executives and experienced data analysts to analyze the EDD backlog, identify key case trends, and prioritize high-risk accounts. They introduced a Fraud Restriction Validation process to remove frozen accounts from the queue, reducing backlog and streamlining efforts. By evaluating reviewer metrics and conducting stakeholder interviews, RGP identified and addressed productivity challenges and the rising case volume. Additionally, they provided surge support to the AML Risk EDD team, conducting detailed case reviews and expediting high-risk customer escalations.
03.
Our Impact
RGP provided data-driven analysis and a strategic approach to prioritize cases, streamline reviews, and reduce backlog, helping the client mitigate regulatory risk efficiently.
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