FATF, or the Financial Action Task Force, is a global organisation founded to combat financial crimes, such as money laundering and terrorist financing, that threaten the integrity of the financial system.

Our client specialises in corporate and retail banking, asset management, and advisory solutions on a global scale. Facing a backlog of around 700 Know Your Customer (KYC) cases, they lacked the internal resources to expedite the process within deadline and ensure compliance with the FATF’s regulatory standards.

Recognising the urgency of clearing the backlog to avoid potential regulatory escalation, the client engaged FDM to deliver the highly skilled talent needed to address the challenge.

Completing their own project scope, the client established that 26 highly trained analysts, delivered in two teams, would be required to execute the project.

Aligned with FDM’s own philosophy and initiatives, delivery needed to reflect their commitment to diversity and inclusivity.

FDM Group’s Model Bank is an immersive coaching environment providing consultants hands-on experience in anti-financial crime operations, including AML, KYC, and transaction monitoring.

To showcase its capabilities, FDM invited the client’s hiring manager to observe a live simulation by a financial crime Pod from the Risk, Regulation & Compliance (RRC) Practice. The 12-person team demonstrated their ability to handle medium-to-high-risk cases, sharing insights into KPIs, completion rates, and case examples, proving their readiness for immediate onboarding.

Continuously evolving, the Model Bank integrates lessons from client projects to stay current. Returning consultants share challenges, pain points, and solutions, which refine the training. New scenarios, such as document review and process improvement, are regularly introduced to keep training innovative and aligned with client needs.

FDM quickly assigned 26 skilled consultants—20 in the UK and 6 in the US—reducing the client’s onboarding period by a third. The team’s diverse backgrounds brought varied perspectives and skills, seamlessly integrating into client operations.

Accelerated onboarding completion

FDM Consultants were assigned to site within one month of the original client scoping session.

Comprehensively coached within the Model Bank, consultants needed only one additional week of client training on GDPR and internal policies, cutting training investment by 40% and enabling rapid contributions.

High-performance outcomes

FDM’s Consultants achieved a right-first-time rate of 90 to 95%, consistently improving the remediation process. Within six months, the overdue backlog fell below 5%, eliminating the risk of regulatory escalation.

Ongoing support and development

Off-site subject matter experts (SMEs) provided biweekly check-ins, 1-to-1 sessions, and customised upskilling to enhance consultant performance.

Advancement in responsibilities

50% of the team advanced to desk owner roles across various financial sectors, improving collaboration between Client Lifecycle Management (CLM) and Front Office Traders.

FDM’s adaptable approach, skilled consultants, and accelerated onboarding ensured the successful completion of the project, meeting FATF compliance standards and enabling the client to achieve operational excellence.

“We needed to hire and train quickly to bring the outstanding cases down. FDM assembled the right team of people, reducing overall SME training time. FDM have played a key part, and we have seen some people with high potential.”
Division Director