Cross-Border Controls Design For a Tier 1 Bank Post-Brexit

Tier 1 bank | Operational transformation | Private sector

The challenge: Following the United Kingdom's exit from the European Union, a Tier 1 bank needed to design, build and enhance a range of preventative and detective cross-border controls to comply with new United Kingdom cross-border regulations. The work spanned multiple functions including trading, technology, legal and compliance across the bank's Public Limited Company and Naamloze Vennootschap entities.

What New Link Consulting did: New Link Consulting spent the initial phase gathering intelligence, reviewing governance and reporting requirements, and building relationships with subject matter experts across all affected functions. New Link Consulting produced a comprehensive paper for the client's Environmental, Social and Governance department with risk recommendations, and established an ongoing framework for the client to raise and track questions.

The outcome: A thorough paper with risk recommendations delivered to the Environmental, Social and Governance department, an agreed framework for ongoing question management, and a proposed book of work defining the appropriate blend of controls balanced against the client's risk appetite, cost and time constraints.