Who Hires Dominion?
Dominion is hired by:
- BSA/AML Officers
- FIU Directors
- Chief Compliance Officers
- General Counsel
- Outside Counsel
- Boards of Directors
Since 2005 dozens of mid-sized and large domestic and foreign banks as well as top tier law firms have retained Dominion. While each client has specific challenges they must address, each hires us for similar reasons.
- A new AML Director needs a quick and effective assessment of the AML operations.
- A bank’s monitoring, investigation and reporting program needs to be improved.
- A regulatory examination with Matters Requiring Attention.
- The bank is informed it will be receiving an enforcement action.
- The transaction monitoring system needs to be optimized to reduce the output of low value alerts.
- The BSA/AML department is burdened with large inventories of alerts and investigations, jeopardizing compliance with FinCEN mandated SAR filing time frames.
- A program to identify, risk rank and perform EDD on high-risk customers is needed.
- The bank is aware of a Department of Justice investigation in which the bank, bank officers, or the bank’s customers are the focus.
- Key staff and management have left and interim assistance is needed.
- A complex money laundering or financial crime investigation must be completed and the bank’s staff is unable to devote the time needed.
Quality Control and FIU Management
Our client, a large National Bank had recently hired a group of investigators to address alerts produced by a new transaction monitoring and needed to ensure the quality of work met FFIEC and FinCEN requirements. Dominion placed several of its quality control specialists in the bank’s FIU to review cases and SARs.See Dominion's solution See More Cases