Supporting a Regulatory Audit to Mitigate Financial Crimes Risk

Business Challenge

As an American multinational banking and financial services holding company — and one of the largest banks in the U.S. — remaining compliant with regulatory standards is one of our client’s top priorities to ensure their customers’ valuable assets are protected.

The company was under formal action with its regulator that required them to inspect and audit the past three years of wholesale and correspondent lending activities. Specifically, they needed to review and classify each of its thousands of qualifying customers into low-, medium- and high-risk categories. It was imperative for the company to move expeditiously to address the required actions, as failure to respond to the audit could result in hefty fines and have far-reaching implications to their business operations.

Given the scope of the audit and number of qualifying customers they needed to evaluate, the company needed additional qualified case support checkers to help accomplish this high-priority project. The company was looking to collaborate with a trusted partner who could not only help identify, screen, interview and onboard the skilled junior and senior case support checkers they needed, but also retain them throughout the audit. The company also had certain budgetary constraints that needed to be taken into consideration when sourcing talent, so finding a cost-conscious partner was also important when assessing possible workforce solutions.

Given the parameters of the project, they knew Aston Carter would be the ideal partner to help meet their critical business objective.

Our Solution

Aston Carter developed a customized, results-focused solution that involved tailoring our recruiting methodology to meet our client’s unique objectives. To help ensure quality and efficiency throughout our partnership, we managed the entire hiring process and vetted qualified candidates through the client’s software programs, World-Check and LexisNexis.

We also partnered with our client to develop and implement an optimized prescreening process that would significantly reduce the time to recruit and minimize the level of involvement needed from our client. To help integrate seamless workflows and minimize disruption to daily business operations, we proposed to hire and train qualified team leads to manage, supervise and help drive the performance of our newly sourced consultants.

Having trusted Aston Carter to build and deliver a highly effective solution that reduced the oversight and involvement needed by internal management, our client had more time to focus on other key aspects of their business while Aston Carter-sourced consultants handled the required job functions needed to execute against the company’s specific project goals.