Helping to unravel Financial Crime

This case study explains how we are able to diversify our services to cater to the changing needs of a client, illustrating how a regular file review moved on to a wider Financial Crime project. Our client, a Challenger Bank, was reviewing the cost, performance and relationship with their existing resource supplier. The bank’s Head of Remediation asked Grovelands to provide a small ‘pilot’ team of File Reviewers to compare and contrast against their existing team.

Our solution

We agreed to a pilot of 5 full-time employment (FTE) graduates.  The high quality of the reviewers we placed allowed the intake to quickly grow to a team of 25 FTEs who have been working with the client for 13 months to date. After 6 months, we proposed a blended model to reduce cost. This was achieved by providing graduates to manage recurring processes and providing Subject Matter Experts (SME) to lead the more technical work and decision making.

The graduates have now progressed to more technically demanding work and in some instances we have backfilled SME with experienced graduates; thereby reducing the on-going expenditure further and improving the operational output efficiency.

How the project evolved

Grovelands became the preferred supplier and we now deliver the majority of the client’s risk and remediation needs. We have recently been asked to provide a similar service to the bank’s Financial Crime operation due to an unprecedented workload in that area, and a high attrition problem.

Project scale was of a similar size to the graduate intake; however due to the urgent nature of the work, our delivery time was significantly reduced to accommodate the client’s needs

This project operated a slightly different model.  We offered the client’s new Financial Crime operation a ‘try before you buy’ package. This was agreed due to the mutually beneficial aspects for both the client and the Grovelands associates. It allowed the Bank to make clear and quick decisions about which teams the associates should be allocated – if offered a permanent position.  It also allowed the ‘contract to perm’ associates to experience a rotation within the Financial Crime department, gaining invaluable exposure and first hand experience in different roles.

This has been and continues to be a really great project, illustrating how we can adapt to a clients needs whilst providing an insight into how we can operate to benefit both our clients and associates.

Grovelands can provide a similar solution for your company and give bespoke advice on how to effectively complete projects. Contact us today for more information about the services we provide and the timescales in which we can send ready-to-work candidates to your sites.

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