Client Challenge

One of UK’s largest insurance price comparison platforms required an independent review of its financial crime controls with focus on how it could be used to further financial crime – taking account of changing business model, strategies, and third-party relationships – to identify the risk and track how this risk is changing over time and the effectiveness of these controls – including how controls are tested and reported on to the respective SMF.

Kharis & Knoble Resolution

Kharis & Knoble working with its partner, carried out an independent review of the overarching risk management framework, businesswide risk assessments, risk and compliance self-assessments, policies, people, processes and technology with the view to determining the effectiveness of financial crime controls in place and any gaps thereof and proposed recommendations to address identified gaps.

Client Challenge

One of Ireland’s largest payment solution providers and one of Europe’s e-commerce acquirers was looking to fulfill a number of AML roles due to high level (Covid related) resignations across 2 teams and approached Kharis & Knoble for assistance.

Kharis & Knoble Resolution

Kharis and Knoble with its resourcing expertise and its extensive network was able to secure train and provide the client with strong and suitable candidates for the outstanding roles in a short space of time.

Client Challenge

An Exchange House in the UAE reached out to Kharis & Knoble for support regarding Compliance project. Kharis & Knoble identified major deficiencies in business processes, controls, governance and culture and technology that may potentially allow money laundering to thrive in business operations across the GCC and Asia.

Kharis & Knoble Resolution

Kharis & Knoble proposed a root and branch review of people, processes and technology with the view to enhancing enterprise risk framework, creating risk appetite statement, carrying out business wide risk assessment and aligning systems and controls accordingly as well as updating policies and processes and training.

Client Challenge

A Fintech in the UK reached out to Kharis & Knoble for support regarding application to the UK regulator for licence to operate as a remittance principal with sub licensees operating under them. In addition, they required compliance services on an ongoing basis to support and ensure risk and compliance framework is robust.  

Kharis & Knoble Resolution

Kharis & Knoble proposed compliance services and support for the licence application; putting together the application forms and supporting documentation, the business plan and funding governance to engaging with the regulator and answering any queries thereby minimising the time spent and getting the authorisation in the fastest possible time.

Client Challenge

A UK PI firm reached out to Kharis and Knoble to assist it with the drafting of its orderly wind down plan. This is a plan to steer the firm to wind down its business in an orderly manner once exiting the business has been voluntarily decided.

Kharis & Knoble Resolution

Kharis & Knoble led the successful bespoke creation of the orderly wind down for the UK PI firm, assisted with the capital and liquidity management arrangements, financial and non-financial interconnectedness, communications strategy, HR as well as wind down processes.

Client Challenge

A UK PI firm reached out to Kharis & Knoble to assist it with meeting its regulatory obligations regarding safeguarding arrangements especially in light of COVID 19 additional guidance stipulated by the Financial Conduct Authority (FCA).

Kharis & Knoble Resolution

Kharis & Knoble proposed the review of the UK PI firm’s governance and control processes for safeguarding arrangements with the view of focusing on overall effectiveness and oversight by senior management as well as processes and procedures.