The Client
The client is a clearing bank with over 1500 branches across the United Kingdom.
The Problem
To comply with enhanced FSA regulations covering retail accounts,
the bank upgraded its customer facing compliance procedures.
The account opening and customer needs review processes were redefined
and additional regulatory steps added.
Technology was required to support the new processes.
The Work
An experienced programme professional worked alongside the compliance team
to manage the delivery of the technology work stream.
The assignment involved:
- Working with the retail bank's team to translate the legislation
and process models into the technology requirements.
- Managing the technology development and testing.
- Planning and testing the roll-out procedures.
- Managing stakeholder expectations, and responding to their
developing understanding of the legislation.
The Benefits
The systems were available well in advance of the regulatory deadline,
providing ample time to train the staff, and were necessary to refine the processes.
