Managing Financial Crime Remediation – SYDNEY

Experience is the Best Teacher: Managing Financial Crime Remediation, SYDNEY
4:00 PM 6:00 PM
Hyatt Regency Sydney

Managing Financial Crime Remediation – SYDNEY

4:00 PM 6:00 PM
Hyatt Regency Sydney

The RMA is delighted to bring you our first event for the year hosted by Protiviti.

Financial institutions globally have been undertaking large scale financial crime remediation programs for more than a decade. Some have managed these programs well; while others have struggled and sometimes been forced to change paths mid-effort, resulting in inefficiencies and added costs. In this session, you will hear from Protiviti’s Asia-Pacific Financial Services lead about the lessons learned by financial institutions in other regions of the world – what will undermine the remediation effort, what will make it successful, and how best to transition from remediation to business-as-usual.

Speaker: Carol Beaumier, Senior Managing Director, Protiviti

Further Information

About The Speaker:

Carol Beaumier

Senior Managing Director, Protiviti

Carol is a Senior Managing Director in the firm’s Risk and Compliance practice and oversees the firm’s Asia-Pac Financial Services Practice. Prior to joining Protiviti, Carol was a Partner with Arthur Andersen where she led the Global Regulatory Practice; a founding member of The Secura Group and leader of the firm’s Risk Management practice; and a regulator with the Office of the Comptroller of the Currency, a bureau of the U.S. Treasury Department. An experienced consultant with more than thirty years of experience, Carol has extensive experience with numerous regulatory issues that affect multiple industries. She is a frequent author and speaker on regulatory and other risk issues. ​

For the last several years, Carol has been a regular presenter at the Institute of International Bankers’ BSA/AML/OFAC Training Series. She is also a lecturer at the Boston University School of Law for which she has designed and is teaching an anti-money laundering course in the University’s Certificate in Financial Services Compliance program.

Major Projects​

  • Oversaw, in conjunction with external counsel, the special investigation into alleged money laundering of one of the banks indicted in Operation Casablanca and, following the investigation, developed and helped implement a remediation plan to enhance the bank’s anti-money laundering compliance.
  • Conducted a special investigation of a private banking deposit and brokerage activity for a major European bank and assisted the bank by providing quality control for its client file re-documentation effort.​
  • Assisted numerous large companies develop and implement their anti-money laundering compliance programs; this assistance included, but was not limited to, development of policies and procedures, design and implementation of monitoring procedures and investigation protocols, training, and development of internal audit programs.​
  • Assisted numerous financial institutions with AML and sanctions-related regulatory remediation, including, but not limited to, redesigning risk assessment methodologies and KYC standards, revamping policies and procedures, enhancing transaction monitoring, improving and improving management reporting.​
  • Performed a comprehensive fraud risk assessment for the international operations of a government-owned financial institution. ​
  • Developed and assisted multiple clients with implementation of country risk rating methodologies which considered, inter alia, money laundering and other fraud and corruption risks. ​
  • Participated in and/or served in a quality assurance role on numerous FCPA projects including risk assessments, program design and implementation, training development, investigations, and audits. These projects were for companies from a variety of industries, including energy, retail, manufacturing, and professional services.​
  • Served as subject matter expert on the design and implementation of a global sanctions project which included the development of a sanctions risk assessment methodology, sanctions policy and procedures and sanctions training.

About The Moderator:

Mark Burgess

Managing Director, Protiviti

Mark has over 17 years of risk and regulatory compliance experience in financial services industry. Mark commenced his career as a regulatory supervisor at APRA where he gained invaluable experience in overseeing the ongoing prudential compliance with relevant Prudential Standards and conducting onsite risk management supervisory inspections at APRA regulated institutions.

Mark has spent a significant time in professional services consulting to leading financial services organisations both locally and internationally. Mark has a proven track record delivering deep insights to his clients through leading the design and delivery of contemporary risk management, regulatory compliance and capital management framework solutions.

Major Projects

  • On several occasions, Mark has been seconded as Chief Risk Officer/Head of Risk to clients for the purpose of leading the day-to-day oversight and management of risk management and regulatory compliance frameworks. This includes leading the delivery of board and executive engagement and reporting, line 1 stakeholder engagement and leading management and implementation efforts that pertains to a line 2 risk management function.
  • Led over 35 client engagements in the past 3 years assisting in the design, implementation or independent review of client’s Risk Management Frameworks in accordance with regulatory driven risk management compliance requirements (including annual and comprehensive review requirements).
  • Led programme delivery of a regional enterprise risk management solution to a leading global bank. The Programme scope covered the design, piloting and implementation of Risk Control Framework operating model and ERM technology solution across the Australian and New Zealand region. The project delivered an integrated risk and compliance management way of working across the 3 lines of defence including the testing and implementation of technology solutions to enable effective implementation.
  • Led many compliance remediation projects to assist clients design and implement solutions in response to regulatory notices of non-compliance. Mark has managed Board and Senior Management stakeholder groups, facilitated and advised clients in regulator response strategy and engagement style, including oversight and managing delivery of projects to address areas of non-compliance.
  • Led programme work streams for international and major Australian banks to design and develop scenario analysis and stress testing processes to estimate worst-case extreme loss estimates for risk management and capital management purposes. The work streams delivered stress test taxonomies, piloted stress testing process as proof of concern and development of prototype models to estimate stress test outcomes.
  • Led ICAAP progress engagements involving review in accordance with relevant APRA prudential standards, solution design and development for leading international banks and local major banks.

Agenda and Schedule

Presentation 4pm
Networking Drinks 5:00 PM - 6:00 PM


Event Category:
Duration: 4pm Presentation followed by Networking Drinks from 5.00pm - 6.00pm