Sample Engagements

Sample Consulting Engagements

Integrating controls across complex product or risk areas

Recent Engagements

§ Cost reduction: IMAG led a successful infrastructure and process cost reduction planning project including peer comparison, product and support alignment and vendor and outsourcing solutions for one of the largest US regional banks owned by a foreign bank parent.

§ Risk Analysis and Cost Reduction: IMAG led a vulnerability and gap analysis of the Anti-Money Laundering policies and procedures of the US operations of a major foreign bank (under Cease and Desist regulatory sanction) being acquired and assimilated into the AML program of a major foreign bank doing business in the US. IMAG then led a project to streamline the combined AML programs to reduce cost, increase efficiency, and improve effectiveness.

§ Departmental and Organizational and Departmental Streamlining: IMAG led a complete process based reorganization and business line integration of the Anti-Money Laundering Department (over 300 individuals) for one of largest US banks.

§ Regulatory Remediation: For several foreign bank branches with regulatory actions (e.g. Memorandum of Understanding and Cease and Desist orders), IMAG conducted a vulnerability/gap analysis and planned the remediation program relating to risk and compliance areas. These plans were accepted by the Federal Reserve and State Banking Regulators and were successfully implemented.

§ Risk Analysis of Product Areas: IMAG conducted a vulnerability and gap analysis of the AML program relating to global correspondent banking for a major foreign bank.

§ Cost reduction: AML Risk Assessment: As part of cost reduction programs, IMAG conducted a peer review and comparison of the AML Risk Methodology Template for the Anti-Money Laundering Program Risk Assessment for several foreign and domestic banks.

§ Branch Formation: IMAG planned and created the policies and procedures for a de-novo branch of a European foreign bank.

§ Broker Formation: IMAG successfully executed a turn-key project for the successful formation and licensing of a broker dealer engaged in private placements.:

Other Representative Engagements, by area:

Compliance

Gap analysis, review and integration of the compliance program of a major retail bank across all products and services giving the client control over their compliance environment

Gap analysis review for anti-money laundering compliance program for the Treasury and Capital Markets area of a large global bank as part of regulatory examination preparation

Gap analysis, review, design and integration of supervisory program into all products and activities for foreign bank owned broker-dealer

NASD Rule 3012 review of global institutional broker-dealer including gap analysis of compliance and supervisory vulnerabilities

Gap analysis of compliance and operational infrastructure for non-registered US investment adviser of major offshore global fund to ensure compliance with head office requirements

Gap analysis of global securities offerings for SEC Rule 15a-6 compliance for major cross-border foreign bank owned broker to ensure conformance with SEC regulatory standards

Gap analysis performed on OFAC “touch points” across all business areas of one of the world’s largest financial institutions to determine the scope and placement of controls and screening software

Operational Risk

Gap analysis and review and of the Operations platform of all product areas of a major foreign bank as part of its global Basel II program

Gap analysis and review of the Operations platform of a US subsidiary bank with foreign parent used to focus the remediation of internal audit and examination issues

Financial Control

SOX type analysis of the integrity of financial control and reporting environment for major financial institution not subject to Sarbanes-Oxley but requiring the same standard of assurance

Reputation Risk

Detailed process flows over the customer service and operations area of one of the largest underwriters of sub-prime mortgages to identify potential areas of Reputation Risk using IMAG’s R3 Solution

Seamless consolidation and reorganization of large areas

Modeling present and future state views reflecting changes to be undertaken in all business delivery and operations processes of a major retail bank as it undertakes a complex, multi-faceted and time-sensitive system and operation platform migration

Introduction of new strategies, products and systems

Visual depiction of the changes to risk, credit and operational processes across all areas of a major underwriter and syndicator of real estate transactions arising out of the introduction of a new core risk control system

Future state process flows with embedded operational policies and procedures relating to the introduction of a core risk and processing system for increasing staff awareness and understanding

Ensuring uniformity over geographic or cultural boundries

Design of future-state process flows embedding policy, procedure and forms to be used as easy-to-understand templates for implantation in worldwide office locations

Design of procedural templates to be translated into other languages to provide a guidance and training tool for offshore outsource providers

Clarity in communicating new ideas to everyone in a complete yet simplified manner

Creation of single process map (replacing hundreds of process maps developed on various software) presenting a single, unified visualization of high level front-to-back processes at one of the world’s largest mortgage institutions for use before audit committees and regulators, demonstrating control over a complex environment

Creation of detailed present-state process maps of foreign exchange and money market operations of one of the world’s largest banks to facilitate product expansion and to design controls over offshore processing

Creation of detailed present-state process maps which embed compliance policies, procedures, and forms within the front-to-back process of the lending, treasury and capital markets areas of a major foreign bank

Creation of detailed present state process maps which set forth the flow of, and controls over, material and sensitive information within the proprietary trading area of a major foreign bank, for use before audit committees and regulators and for staff training

Implementing a common vision of the future

Detailed future state process flows setting forth the future state vision of the corporate banking and capital markets area of a major foreign bank's US branch-in-formation to facilitate selection of operational and systems platforms