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We all have a role to play to mitigate financial crimes
Financial crime risk management: KYC and AML compliance
Preventing and detecting financial crime has become an expensive operational burden for many companies. The struggle to keep pace with evolving regulatory requirements and new risk vectors while attracting and retaining specialized employees is leading to runaway compliance costs, delays in client onboarding and friction in customer experiences.
For many companies, legacy operating models are no longer a cost-effective way of managing financial crime risks with confidence. Organizations need a fresh approach that combines new technologies with the right talent to properly manage complex financial crime regulations, economic sanctions and fraud threats.
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Our managed services approach
PwC Canada’s financial crime managed services solutions aren’t traditional outsourcing or staff augmentation arrangements. Instead, our managed services model is sharply focused on delivering the sustained business outcomes that matter most to your company.
We help you gain a strategic advantage by accelerating your ambitions and closing your capabilities gap. Our end-to-end solutions transform complex functions by continuously improving your operations, processes and digital solutions. We do this by forming multidisciplinary teams of industry and financial crime specialists, supported by technology backed by our ecosystem of Alliances.
Through ongoing investments in our people and technology capabilities across our global network, we provide the latest thinking, leading practices and solutions to financial crime. And we collaborate with you to deliver outcomes together—starting with shared goals and working closely to adapt to changes in your business, evolving risks and regulations, and technological disruption.
Dynamic scalability:
Immediate access to cost-effective onshore and offshore pools of experienced and knowledgeable financial crime specialists lets us quickly scale up or down resourcing based on your unique needs, helping you address talent constraints and the costs of recruitment, retention and attrition.
Access to global resources:
Our accelerators, Alliance relationships and global capabilities can produce meaningful cost improvements and long-term operational efficiencies.
A deep pool of experience:
Many organizations struggle to find employees with the right financial crime skills and knowledge. We provide those specialized talents on day one. Our teams have extensive experience helping companies with similar financial crime managed services.
Simplified cost structure:
Shifting to a unit-based, managed services pricing model passes the operational overhead and risk management to us. This helps you focus on value-added client activities, rather than operational tasks such as overseeing employee recruitment, training and productivity.
A tech-powered approach:
We’ve invested in the latest financial crime solutions to support our managed services. This includes analytics, case management, intelligent automation and artificial intelligence. These technologies can be readily deployed to support you where and when required.
Financial crime managed services: Scope of offerings
- Know your customer (KYC) compliance processes: onboarding, regular reviews and event-driven reviews
Transaction monitoring alert adjudication and case investigation
Client exits
Screening as a Service (negative news, PEP, sanctions)
Know your vendor (KYV) and third-party risk management
Quality Check and Quality Assurance as a Service
Adjudication, investigation and remediation
- Global intelligence and Subject Matter Expertise (SME) as a Service
Related services
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Contact us
Partner, National Financial Crime Practice Leader and Financial Crime Managed Services Leader, PwC Canada
Partner, Cybersecurity, Privacy and Financial Crime National Leader, PwC Canada
Tel: +1 416 815 5306
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