At A Glance

Following an Independent Review, an Australian Tier 2 bank committed to a large-scale AML/CTF remediation program consisting of 100+ uplift activities. WhiteLight AML was engaged to lead the program, manage Line 2 AML/CTF operations, and oversee multiple backlog remediations.

Challenges

• Delivering 100+ remediation activities under regulator and board scrutiny

• Managing both strategic uplift and operational backlogs simultaneously

• Recruiting and restructuring AML/Fraud operations under tight timelines

Solutions

WhiteLight AML partnered with the client’s Line 1 & 2 teams to scope and deliver the remediation. A tailored remediation procedure and workflows were created, including target cycle times, templates, and reporting frameworks.

During execution, WhiteLight AML delivered all remediation activities scheduled for 2022, led the restructure of Line 2 AML/Fraud operations, supported the hiring of 40+ crime analysts, and project managed the automation of SMR uploads to AUSTRAC. We also managed three separate backlog remediations across transaction monitoring,
ECDD and fraud.

Worked with the MLRO to scope and prioritise 100+ remediation activities, building a program roadmap and reporting framework for the board and regulator.

Delivered all planned remediation activities for 2022. Led Line 2 restructuring, onboarded 40+ analysts, and project managed AUSTRAC SMR automation. Simultaneously managed three backlogs across TM, ECDD and fraud.

The WhiteLight AML Advantage

WhiteLight AML brings the proven capability to lead large-scale AML/CTF remediation programs under intense scrutiny. With experience across banking, financial services and gambling, our program leaders and project managers deliver complex change initiatives on time, on budget and to regulator expectations.