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Financial Crimes Advisory

Sia Partners employs a team of former regulators, with extensive experience interpreting rules, regulations, and guidance published by local and international regulatory and oversight bodies, who can leverage in-house technology solutions.

Regulatory  Response and Program Assessment

Sia Partner’s Financial Crimes team has performed extensive work for clients in all aspects of an AML and OFAC / Sanctions program.

  • AML Program Assessment
  • Consent Order Response
  • Remediation Action Plan
  • Program and Policy Development
  • Compliance Testing

Know Your Customer (KYC)

Our experts have significant experience providing AML / KYC review and support services, performing the AML / KYC work requested by our clients. 

  • Customer Risk Rating 
  • Customer Onboarding and Renewals BAU Support
  • CDD and EDD Process
  • Remediation

Transaction Monitoring

Our risk management team will provide assistance in developing, testing and validating the risk-based models required in AML, OFAC / Sanctions compliance programs.

  • Model Validation & Assessment
  • Scenario Tuning and Optimization
  • Alert Review BAU Support
  • TM Lookbacks
  • NYDFS 504 Rule Compliance

Sanctions Advisory

Our professionals include former regulators. We have worked closely with multiple regulators and Financial Institutions in helping them manage enforcement actions and meet mandated regulatory timelines. 

  • Sanctions Advisory
  • OFAC Assessment
  • Filtering software development
  • Filter turing and optimization
  • DFS 504 Filter Compliance

Strategic Operations

We can help remediate regulatory gaps, as well as design and implement sustainable models that streamline operations, comply with regulatory requirements and meet business needs. Our team will work with you to address risks and improve operational performance.

  • Target Operating Model Design
  • Process re-engineering
  • Metrics and Dashboards
  • Project Management
  • Managed Services

Technology, Automation and Machine Learning

Unlike other Firms, Sia Partners has Techology based consulting approach. Our experts can help you use current technologies to automate compliance processes. 

  • Heka, our AI Eco System
  • Robotics Process Automation
  • Artificial Intelligence/Machine Learning
  • Business & Functional Requirements 
  • User Acceptance Testing

Data Scientists, Web Developers, Data Engineers, UI/UX designer

360

algorithms, AI models and data sets stemming from our R&D activities to meet our clients’ evolving challenge

200

Our Platform as a Service to develop "production-grade by design" products including: Reg Review, Sanctions Challenger and AI Transaction Monitoring

PAAS

Financial Crimes Advisory – Selected Credentials

Client: Global Technology Firm

Sia Partners Approach

  • Identified in-house tools and data sources utilized by finance compliance and sanctions teams for alert investigations.
  • Assessed internal rules that automatically close alerts, address any potential inefficiencies, and update or deprecate rules as needed
  • Supported data sampling efforts for specific auto close scenarios QA
  • Developed a detailed lookback plan to conduct analysis on alerts previously closed using incorrect rules

 

Sia Partners Value Add

  • Prior experience with the company's in-house software
  • Strong expertise in risk management and compliance

Client: Major Tech Company

Sia Partners Approach

  • Audited and analyzed current state of workflows, data management, reporting, and project management. ​
  • Assessed key operational procedures in the KYC (DD/IDV) process and highlighted potential bottlenecks and issues operations teams may face. ​
  • Leveraged developments in Generative AI to provide working solutions to incorporate into client’s KYC operations team. ​

 

Sia Partners Value Add

  • Successfully launched new operations metrics dashboard, by assessing current state and gaps in reporting. Leveraging gathered data to create buy-in from key client stakeholders. ​
  • Assessed current state of KYC process flows and provided Gen AI solutions to optimize operational bottlenecks. 

Client: International Tech Company

Sia Partners Approach

  • Identified coverage gaps and work with cross functional project managers to ensure that all tuning and new model efforts are completed on time​
  • Worked with various team members to conduct the validation of and gain approval for the tuning of existing AML models and implementation of new AML rules​

 

Sia Partners Value Add

  • Successfully tracked the progress of over 40 AML Model tuning and rule implementation efforts​
  • Created and amended cross functional project plans to ensure the accurate implementation of tuning and new model implementation efforts
  • Implemented an escalation system to notify senior management of missed targets and milestones

Client: Global Tech Company

Sia Partners Approach

  • Developed and oversaw the implementation of a Policy and Procedure Governance Program​
  • Provided support to the Licensed Entities and relevant teams from a Policy and Governance perspective (i.e. conduct quality control oversight reviews) and liaise with experts with regards to Policy and Procedure updates​
  • Managed a document repository system and collaborate with the Policy and Procedure 
  • Owners to ensure the repository is up to date ​
  • Conducted ad hoc regulatory gap or legal analysis on relevant subjects (e.g., consumer protection, data retention )​

 

Sia Partners Value Add

  • Knowledge of financial regulatory expectations and requirements ​
  • Experience in implementing and overseeing global compliance programs 
  • Experience in regulatory gap or legal analysis

Capabilities