AML/KYC, Regulatory Compliance Services
Gibbs Hybrid Anti-Money Laundering (AML) and Know Your Customer (KYC) programme teams, based in Luxembourg, London and Dublin, support major financial institutions across the globe.
We support financial institutions with flexible and diverse KYC Services, enabling our clients to meet their AML (Anti Money Laundering) and CTF (counter-terrorist financing) regulatory commitments.
Gibbs Hybrid offers clients a range of end-to-end, interchangeable, Know Your Customer services that can be tailored to suit specific business needs. Whether it’s full-scale account migration with complete end-to-end process design and management or just individual services to complement an organisation’s mature AML Programme, we have the financial market and regulatory experience to make the difference.
REMEDIATION & REFRESH
BUSINESS AS USUAL
ASSESSMENT & ADVISORY
Why Gibbs Hybrid KYC & AML Services
Gibbs Hybrid has a specific high calibre unit (Assessment & Advisory) to support our clients’ internal departments with sensitive and high-risk phases.
We provide analysis of wider AML risks across in the portfolio or a redefinition of the Risk Matrix Calculation.
While the UK has a policy of implementing EU regulations to the fullest – GDPR is a recent example – the deeper complexities lie in potential disruption to EU/UK trade agreements, taxation and the issues around the free flow of workers between countries.
From an AML/CTF/KYC perspective, our team can manage the subsequent migration of current UK records to new jurisdictions in, for example, Dublin or Luxembourg.
Value we can deliver
- PROJECT DESIGN & GOVERNANCE – Design of processes, procedures, supporting systems, local laws and workflow with multi-lingual KYC squad team fully mobilised.
- CLIENT FILE MANAGEMENT - All account types are covered across core services -individual and corporation accounts through to more complex funds, SPVs and charities.
- OFFBOARDING – Offboarding of existing client accounts from source jurisdiction and client’s current business location. This process can be performed by Gibbs Hybrid or in conjunction with the client’s existing internal teams.
- METRICS AND REPORTING - Detailed reports covering tangible, value-driven metrics and insights for compliance departments and business sponsors.
- MIGRATION – Full migration of existing client’s records and accounts from one jurisdiction to another. A Know Your Customers Account Migration can cover the full range of core services and correspondent component process. Encompassing entire lifecycle of the migration with our cross-border KYC teams.
- REMEDIATION & REFRESH – A full review of existing accounts and client records to ensure compliance requirements meet specified regulations. Review and adaptation of existing files to align new policies.
- BAU – Services to support on-going client onboarding with full adoption of the bank’s policy and the systems in place. We can assist your ongoing client onboarding requirements, enabling you to concentrate on core business.
Typical outcomes / benefits
- Quality Control – Designed to deliver process control and adherence to the Bank’s standards through the KYC workflow.
- Quality Assurance (QA) – Risk-based approach with risk classification tool automation.
- MI and Internal Reporting – Target more comprehensive and auditable output through built-in MI standards.
- Transition of operations back to the client / knowledge transfer and documentation.
- KYC process for high-risk entities and complex structures. Our high-risk unit is formed by teams with advanced experience working with complicated ownership and high-risk jurisdictions. Multilingual SME’s covering the location of the client.
Our experience and credibility
- Our client is a major global Custodian and Investment fund services bank. Their investment and treasury services is based in Luxembourg, which is also the headquarters of Gibbs Hybrid’s KYC/AML office.
- The project, which is ongoing, is to remediate the bank’s anti-money laundering (KYC) entity files for its investment fund clients (made up of mainly UCITS & AIFs which include SPVs, Trusts and Complex entity Structures) to meet a regulatory deadline set by the CSSF, Luxembourg’s financial regulator. We are capturing the AML risks according to specifications requested by CSSF. The bank’s incumbent professional services firm was unable to meet deadlines set by the bank, or the CSSF specifications, and so the client turned to Gibbs Hybrid.
Why Choose Us
We specialise in delivering programmes in the £50k – £20m range, where our ability to execute at speed with innovation, allows our customers to realise benefits quickly.
While we have broad technical coverage and expertise, we specialise in the following business areas: Programme Management, Business Analysis, Testing, Architecture, Development, Marketing and Communications, Implementation, Data Centre Migrations, Digital, Regulatory and Change & Transformation.
STRUCTURE & GOVERNANCE
Our solutions are underpinned with our Gibbs Hybrid governance and end-to-end service wrap; a Statement of Work to specify and manage deliverables, PMO & MI teams to manage the cost and effort burn in addition to our Service Management team and Executive Sponsorship to ensure we continually improve and deliver value and end results.
RELIABILITY & COMMITMENT
We will be there for the entire duration of the project and ensure continuity, defined outcomes and knowledge transfer. We are a partner that think beyond the bottom line.
QUALITY AT SPEED
We are lean but operate at scale with access to a qualified consultant network, allowing us to deliver quickly and without compromising on quality. Our customer-centric approach brings flexibility, nimbleness and agility.