Spiralling cost of compliance have strained existing systems. There is a need to change gears and consider radical approaches to modernising risk operating models that can be both, strategically relevant, & sustainable.
At Karmine, we understand challenges of building and maintaining an internal control framework that aligns adequately to meet such requirements. Coupled with data complexity, the task for ensuring compliance of the highest standards becomes all the more daunting.
We assist organizations in implementing programs and / or assessing program’s effectiveness.
Our holistic solutions reflect our industry expertise, experience in conducting assessments, and our analytics capabilities. Through our global partnerships, clients can leverage domain expertise and rely on their local presence.
Take a fresh strategic look at your operating model & build a brave future-state blue print. Deploy a robust cohesive framework of people, process & technology to manage financial crime prevention & detection programme in a balanced & optimal manner.
Conduct financial crime maturity assessment and test the waters against our benchmarked maturity model.
Leverage our leading data & process mining technology enablers to identify and remediate areas of strategic & tactical weak-links.
Design operating effectiveness reviews to assess extent of compliance against entity Risk Based Approach and board approved principles.
Market leading automation workflows and reporting systems to consolidate entity wide data to build robust & comprehensive reports that can aid regulatory & board requirements.
Program assessments to identify potential fraud risks and advise on remediation plans and mitigating controls from a design and operating effectiveness perspective.
Building efficiencies & effectiveness with transaction monitoring alert management our using 3M approach – Model Calibration, Model Validation and Model Enhancement. Direct accrued benefits through reduction in false positive volumes & enrichment of alert quality.
Providing much needed ground-work for responding optimally to regulatory feedback, and enhancing internal control framework to meet regulatory expectations and group strategic objectives.
We support through every step of reviews - responding to an incident, uncovering critical facts, enabling communication with regulators, remediation modelling, and, repairing reputational damage.
Implementation and enhancement of their existing digital levers to achieve efficient monitoring & reporting of financial crime. Our analytics expertise helps clients develop effective compliance, detection and risk management programs.
Support around tuning / calibration of risk model, rule engine and validation of workflows.
Data integrity & quality assessment leveraging cutting edge data & process mining tools.
Leveraging machine learning and predictive analytics for enhanced efficiencies around risk mitigation.
Our clients can scale their capacity aligned with requirements, without the burden of finding, training & maintaining the right talent mix. Our hub & spoke model ensures we suitably take advantage of onshore, offshore, and nearshore bubbles to align with client objectives.
Our strategic alliances with technology partnerships enable us to provide through the managed services, intuitive customisable workflows, flexible rule engines, audit trail and MIS dashboarding capabilities aligned to industry leading practices.
Analytics
Operations & Fact Find
Third Party Risk Management
Reality is indeed more curious than fiction. Every time I read a major consent order, I end up thinking this is it; it can’t get any worse. And then just like that, without much fanfare, there comes another consent order that magically wipes away all the optimism I closed the previous consent order with.
Last October, the UK government passed the Economic Crime and Corporate Transparency Act, aimed at enhancing measures against economic crime and improving corporate transparency. The recent introduction of “Failure to Prevent Fraud” is being seen as a significant feature of the Act.