Assistance with reconciling P&L differences through an effective BAU tool and industry expertise
New Link was brought into an ongoing problem, to assist a Tier 1 Bank with implementing cross border controls under the regulations of a Post-Brexit UK.
Problem Statement:
New Link Consulting assisted the client (a Tier 1 Bank) with designing, building and enhancing a number of preventative and detective cross border controls. Post-Brexit new cross border rules were put in place and the client needed to be compliant with said rules.
NLC Engagement:
New Link spent the first few months of the project gathering intelligence and understand of the book of work as well as researching and reviewing governance and reporting requirements.
In order to produce an efficient and effective work ethic and that the project ran smoothly, New Link worked on developing strong relationships with a number of SMEs and stakeholders as they affect many functions like trading, tech, legal, compliance and so on. A lot of these functions are found in PLC and NV entities.
New Link provided a substantial and thorough paper to the client’s ESG department in December 2022. This was accompanied by a list of risk recommendations and establishing a system for the client to ask questions which New Link are continuously following up on.
Outcome:
As the project is still in progress there have not been any final outcomes reached yet. But the next stage is for the proposed book of work to be agreed on between New Link and the client. This agreement extends to what is an appropriate blend of controls to satiate risk appetite when balanced against cost and time..
