Compliance Remediation of Bank Agreements

Industry: Financial Services
Client: Fortune 50 Tier-1 Bank

Issue:

The client was faced with a regulatory deadline to review, analyze and abstract key legal and core provisions from customer agreements, identify missing or invalid client files, create remediation packages for customers and scan/index files which were not available in the database.

Solution:

We created experienced teams in multiple locations to work across different lines of business, such as investor services, treasury, asset management and the commercial bank. Our team reviewed, analyzed and abstracted key legal and core provisions from customer agreements, identified missing or invalid client files, created remediation packages for customers and scanned/indexed files which were not available in the database. We identified and captured deviations from client template documents and identified multiple sources of documents from disparate parts of the organization (i.e. emails, repositories, etc.) where documents were found to assemble client file packages. We also reviewed and conducted due diligence of customer agreements, including indexing, scanning, authentication and client file packaging.

Cost Savings:

Significant cost savings of approximately 27%.

Benefits:

  • Assisted in meeting federal requirements to avoid sanctions
  • Quickly scaled the team to more than 170 lawyers
  • Managed Services delivery model with proven QA/QC approach, delivered SLAs at 99% accuracy
  • Maintained flexibility in meeting frequent scope changes
  • Project Managers quickly navigated and dynamically managed engagement through multiple review scope changes, even as new data troves were uncovered by client