Projects & People

An organisations long term objectives can be frustrated by the day to day demands of managing all aspects of compliance and financial crime frameworks.

Regulations are not letting up either with the result that compliance and financial crime teams working in the financial services sector will be stretched further, spread thinly and leaving knowledge gaps for the organisation.

This is one of the reasons organisations are turning to third parties. It is not just a cost effective way of fulfilling the organisations compliance with regulatory expectations, it also means the organisation has access to a pool of dedicated and knowledgeable resources. The consequences of a breach or failure in an organisations systems and controls can be very costly for firms.

Prevention is better than cure and Barley Harbour works with its clients to enhance existing processes and controls. By securing access to an additional pool of dedicated resources, firms can obtain the support they need to deliver the right outcomes for their business.

We can support you in four areas:

01/

Online Assessment:

We provide a fully managed remediation and redress service, assisting firms to prepare for a regulatory risk assessment/visit. Post inspection, Barley Harbour can assist to formulate a regulatory response, assist in the implementation of any regulatory findings/observations This can be achieved in a number of ways:

Help you to prepare and organise required documentation
Independently review and provide feedback on documents
Conduct mock interviews and provide constructive feedback

02/

Remediation Projects

For example: KYC review, Onboarding/Periodic Asssessments.

When there has been a regulatory failure it is necessary to take immediate remedial action to prevent its reoccurrence and, where appropriate, calculate potential client damage. These failures can lead to full or partial enforcement proceedings which will place a heavy burden on your organisation, demanding a significant amount of skilled resources and imposing tight timetables for action.

Barley Harbour will resource the remediation from a pool of resources from its network of trusted partners and provide oversight.

03/

Healthcheck

Regulated businesses must have in place appropriate systems and controls to detect and prevent the risk of financial crime occurring within their organisation. Barley Harbour looks at financial crime holistically and our health check covers exposures in relation to money laundering, terrorism financing, fraud, bribery, corruption, market abuse, data governance and cybercrime across business units, sectors and borders. We will look at weaknesses or deficiencies in the following areas (non-exhaustive list):

Senior management responsibilities, accountability and apportionment
MLRO report, policies and procedures
Internal and external audit reports
The firm wide training strategy and training content.

04/

People

Barley Harbour is a niche supplier of governance professionals within the banking and financial services sector. The business focuses on the placement of SME’s for contracted business as well as project related deliverables. Barley Harbour can help firms successfully resource their compliance, risk and financial crime teams.

With expertise in the industry and an extensive network, we can ensure organisations in the financial services sector have the right balance of skills and experience.