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Switzerland Compliance & Financial Crime Market Trends - In November 2023, we hosted our first-round table event in Zürich, with a number of distinguished Heads of Compliance and Heads of Financial Crime in attendance. Here are some of the key takeaways: Financial institutions are grappling with multifaceted challenges in ESG (Environmental, Social & Governance) driven by heightened pressure from FINMA (Financial Market Supervisory Authority) to adopt sustainable practices and navigate the complexities of ESG criteria. Regulatory measures, exemplified by the EU’s SFDR (Sustainable Finance Disclosure Regulation), add layers of complexity, particularly for smaller firms defining ‘sustainable investment.’ Concerns about “greenwashing” and the difficulty of implementing effective controls without clear guidance extend beyond regulatory checkboxes. It was raised that when discussing ESG that DE&I (Diversity, Equity & Inclusion) can be overlooked and that prompting the recognition of diversity targets is crucial. Despite existing complexities, there’s a prevailing sentiment that ESG is a permanent fixture, calling for collaboration among firms. In Financial Crime, AML (Anti-Money Laundering) and sanctions, increased scrutiny and challenges from the EU’s new AML package pose uncertainties, leading to varied opinions on accountability dynamics and structural concerns as Compliance moves within the first line. The integration of AI (Artificial Intelligence) and Digital Transformation raises questions about effectiveness and transparency, sparking debates on ownership, intellectual property laws, and liability frameworks. Meanwhile, data privacy concerns and budget constraints may hinder robust AI implementation. In 2024, we envisage that companies will prioritise Compliance professionals with strong ESG implementation experience, robust Financial Crime knowledge, and data expertise. These skills are expected to be even more in demand by Banks and Asset Managers operating in Switzerland. For tailored solutions to your hiring needs in the current Switzerland Compliance & Financial Crime market, contact Isabel today. Her expertise and insights can guide you through navigating the current landscape and securing the right talent for your team. Isabel Anchebe Associate Director, Head of Compliance, Europe T: 44 (0) 20 3889 5758 E: [email protected] #compliancehiring #emeacompliance #swisshiring
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BASEL III IMPLEMENTATION IN SWITZERLAND: CHALLENGES FOR THE BANKS AND THE SYNERGY OF CURENTIS' EXPERTISE 🏦💼 As already explained in our article from July 8, 2024 (THE SWISS FEDERAL COUNCIL CONFIRMS IMPLEMENTATION OF FINAL BASEL III STANDARDS ON JANUARY 1, 2025 🇨🇭🏦), the new Basel III standards will come into effect in Switzerland on January 1, 2025. From the perspective of the Swiss Bankers Association, this regulation reduces the competitiveness of the Swiss banking sector 📉. This is due in part to the challenges that the implementation of Basel III brings to Swiss banks: 1. Complexity: The comprehensive changes affect all risk types and require extensive adaptation of risk management systems 🔄. 2. Model adjustment and data management: Changed requirements necessitate enhanced model governance and improved data management 📊. 3. Extended disclosure obligations: More detailed Pillar 3 reporting requires additional resources 📝. 4. Time pressure: Short implementation period until the effective date of January 1, 2025 ⏳. 5. Impact on lending: Potential adjustments to lending policies due to new capital requirements 💰. 6. Capital allocation: Need to review and potentially reallocate capital distribution 💼. 7. Project management: Recommendation to treat implementation as a standalone project with corresponding resource requirements 🚀. These challenges require significant efforts from Swiss banks in terms of resources, technology, and expertise for a timely and effective implementation of the new standards 💪. CURENTIS AG can provide valuable support in addressing these complex tasks 🤝. As a consulting company focused on regulatory requirements and implementation in the financial sector, CURENTIS possesses the necessary experience and know-how to assist banks in implementing Basel III 🧠. Our expertise in areas such as AML and Avaloq consulting can be particularly helpful in efficiently integrating the new regulations into existing systems and processes 🔧. #BaselIII #SwissBanking #FinancialRegulation #RiskManagement #BankingCompliance #FinTech #RegulatoryConsulting #BankingInnovation #FinancialServices #CURENTIS
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BASEL III IMPLEMENTATION IN SWITZERLAND: CHALLENGES FOR THE BANKS AND THE SYNERGY OF CURENTIS' EXPERTISE 🏦💼 As already explained in our article from July 8, 2024 (THE SWISS FEDERAL COUNCIL CONFIRMS IMPLEMENTATION OF FINAL BASEL III STANDARDS ON JANUARY 1, 2025 🇨🇭🏦), the new Basel III standards will come into effect in Switzerland on January 1, 2025. From the perspective of the Swiss Bankers Association, this regulation reduces the competitiveness of the Swiss banking sector 📉. This is due in part to the challenges that the implementation of Basel III brings to Swiss banks: 1. Complexity: The comprehensive changes affect all risk types and require extensive adaptation of risk management systems 🔄. 2. Model adjustment and data management: Changed requirements necessitate enhanced model governance and improved data management 📊. 3. Extended disclosure obligations: More detailed Pillar 3 reporting requires additional resources 📝. 4. Time pressure: Short implementation period until the effective date of January 1, 2025 ⏳. 5. Impact on lending: Potential adjustments to lending policies due to new capital requirements 💰. 6. Capital allocation: Need to review and potentially reallocate capital distribution 💼. 7. Project management: Recommendation to treat implementation as a standalone project with corresponding resource requirements 🚀. These challenges require significant efforts from Swiss banks in terms of resources, technology, and expertise for a timely and effective implementation of the new standards 💪. CURENTIS AG can provide valuable support in addressing these complex tasks 🤝. As a consulting company focused on regulatory requirements and implementation in the financial sector, CURENTIS possesses the necessary experience and know-how to assist banks in implementing Basel III 🧠. Our expertise in areas such as AML and Avaloq consulting can be particularly helpful in efficiently integrating the new regulations into existing systems and processes 🔧. #BaselIII #SwissBanking #FinancialRegulation #RiskManagement #BankingCompliance #FinTech #RegulatoryConsulting #BankingInnovation #FinancialServices #CURENTIS
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DVA is not associated with this job post. Analyst, Financial Crimes Inv https://lnkd.in/guX4_4yR US - Remote What You’ll Do: Complete thorough investigations of customers and transactions flagged by automated monitoring system(s), reports, and/or internal referrals for potential money laundering, terrorist financing, and other financial crimes. Investigate cases using internal and external platforms and determine if the activity captured is suspicious. Prepare detailed AML investigation narratives that clearly explains the activity, risks, and disposition of a case for Upgrade’s Bank Partners Retain evidence collected throughout the investigation including documentation, images, and call recordings, etc Review and analyze internal AML reports, draw conclusions, and make recommendations regarding the need for further investigation Conduct case analysis to detect trends and patterns of financial crimes that may pose significant threat to Upgrade, its partners, and customers... #business #entrepreneurship #leadership #strategy #innovation #growth #success #management #marketing #sales #finance #productivity #networking #professionaldevelopment #career #teamwork #startup #smallbusiness #digitalmarketing #branding #customerexperience #technology #economy #investing #consulting #entrepreneurmindset #leadershipdevelopment #businessowner #worklifebalance #corporateculture
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Let’s talk Corporate Intelligence (and see who is behind the camera)! 👀 You may require enhanced due diligence to be conducted on individuals you are considering hiring in Senior Executive roles, or an entity you are considering engaging with and would like to understand potential associated risks. Searches conducted may include background details, corporate registry and regulatory/listing status, adverse media, social media, litigation, sanctions, AML and other high risk searches. If you require enhanced due diligence to be conducted on individuals or entities, please reach out to myself, Megan Grubb or Virginia Cole.
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Starting off the week with a focus on Corporate Intelligence - ensuring that you understand the individuals, entities and other targets (including suppliers, agents etc.) you may enter into a business relationship with is critical to avoid any potential red flags that could impact your business. Feel free to reach out to myself, Georgia Moore or Virginia Cole for a chat on how we can help you!
Let’s talk Corporate Intelligence (and see who is behind the camera)! 👀 You may require enhanced due diligence to be conducted on individuals you are considering hiring in Senior Executive roles, or an entity you are considering engaging with and would like to understand potential associated risks. Searches conducted may include background details, corporate registry and regulatory/listing status, adverse media, social media, litigation, sanctions, AML and other high risk searches. If you require enhanced due diligence to be conducted on individuals or entities, please reach out to myself, Megan Grubb or Virginia Cole.
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Customer Success Manager - LexisNexis Risk Solutions: Helping partners mitigate risk & increase profits through technology, data & solutions.
Learn how our robust suite of solutions, from regulatory compliance, synthetic identity fraud detection, to credit risk and collections, can complement and expand your existing portfolio. #LexisNexisRisk
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Another fun campaign to be a part of! We talked to our team about how to boost #compliance productivity 😎 with #IntelligentScreening! The answer: Say goodbye to 'routine, repetitive tasks' and decision bias and let your teams focus on the big stuff that actually adds value 🚀. Plus, happier teammates mean less turnover 👍. Moody's works with firms to cut #RegulatoryRisk and bring in a wave of benefits 🌊. Learn more below!
Remove the ‘boring, repetitive tasks’ and the risk of decision bias from your #compliance professionals. Give them time to focus on the tasks and decisions that add value. Reduce high employee turnover. Introducing #IntelligentScreening solutions to your risk and compliance functions not only limits your exposure to #RegulatoryRisk but has a host of benefits for your team. Let Danielle Ferry, at Moody’s tell you more. Learn more about Intelligent Screening Solutions: https://lnkd.in/emWnxUBQ
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White & Case is delighted to share its contribution to the LexisNexis UK Market Insights Report, The Evolution of the Hybrid AGM, which offers a breakdown of hybrid AGMs in the 2023 AGM season and analyses emerging trends from companies who opted for a hybrid format. To read the full analysis, please click here (sign-up required): https://ow.ly/SVJN50QQQ3X #LexisNexis #LexisNexisUK #Corporate#MarketInsights #White&Case #hybridmeetings
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Last month, HKMA has released guideline paper for promoting the use of statistical methods and analytics on optimizing AML transaction monitoring system (https://lnkd.in/daY2X6WB). Among the different aspects discussed, Threshold tuning and Customer Segmentation are the areas that are relatively easy to start with. Is your team ready to cope with these technology?
hkma.gov.hk
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