• Demand from financial institutions drives need for specialist financial crime agency.

P2 Consulting, the second fastest growing private company in the UK, has today announced the launch of P2 FinCrime, a specialist financial crime consultancy.

Headed by Phil Rolfe, experienced financial crime expert and ex Head of AML Shared Services at RBS, P2 FinCrime will focus on the regulatory change lifecycle for financial services. The principle aim will be to help financial institutions navigate the complex environment of financial regulation, developing threat response solutions, remediating any current difficulties and ensuring their systems, processes and controls are fit for purpose.

In addition to a financial crime advisory service, P2 FinCrime’s services will cover operating model design, systems evaluation and implementation, operational performance improvement and remediation. Although P2Fin Crime is independent, when required its financial crime expertise will be supported by sister company P2 Consulting’s expertise in project and programme management, business architecture and design, testing and quality assurance and implementation.

Phil Rolfe, CEO of P2 FinCrime commented: “Banks are facing an increasing wave of regulation related to financial crime, from Know Your Customer to AML, Sanctions and ABC legislation. It’s imperative they are on the front foot with these initiatives which can be difficult when balancing change and business as usual, they often don’t have the expertise or the bandwidth to respond to the degree that the FCA, PRA and international regulators require. The demand is clear, hence our decision to set up an agency focused on combatting financial crime.”

Pip Peel, CEO of P2 Consulting concurred: “Financial institutions are in need of guidance to help them steer the murky waters of financial crime and put the appropriate regulatory measures in place. The rationale for P2 FinCrime is to manage financial crime programmes, advise organisations facing complex Fin Crime decisions and provide clients with oversight and control of large remediation teams. With the depth of P2 Consulting’s programme and project management business behind it, P2 FinCrime is able to swiftly mobilise teams to help banks tackle these complex issues. We are already working with a number of large city organisations and look forward to welcoming more.”

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