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Case Study - Enhancing MI Reporting Structure, Content & Data Framework


  • A UK retail bank faced challenges with effectively managing and gaining insights into their financial crime risks across the firm.
  • The challenges centred around an inadequate governance and MI reporting framework that hindered the MLRO’s ability to gain insights into the firm’s financial crime inherent risks and oversight into the effectiveness of its financial crime control environment.
  • The existing governance structure placed ‘financial crime risk’ in a lower-tier risk classification. This placement failed to allocate the necessary focus and supervision that the risk required, leading to:
    • Senior management not receiving timely and pertinent information to inform their decision-making.
    • Tiered escalations to Exco & Board rather than direct and timely information flows.
  • Additionally, there was lack of confidence in the accuracy of the data being presented within the monthly MI packs.


To address the challenges, Beyond MI supported the firm by enhancing the financial crime governance and MI reporting capabilities and introduced data quality insights into the framework.


  • Enhanced and embedded an improved financial crime governance structure for accountable ownership of risk supported by effective insights through MI reporting.


    • Introduction of a targeted MI dashboard, capturing appropriate risk and control environment insight KRIs and metrics into one central repository for firm-wide input.
    • Creation and implementation of risk and control environment MI insights reporting to ExCo and the MLRO.


    • Engagement with data producers to map data provenance from authoritative source through to relevant report, including all data manipulations and controls.
    • Established data quality governance framework to integrate into the firm-wide Data Management Office initiative.


    The implemented solutions resulted in:

    • Strengthened Focus: Senior management ability to focus on financial crime risks, enabling informed decision-making.
    • Enhanced Insights: A comprehensive suite of KRIs and metrics provided deeper insights into inherent risks and the effectiveness of the control environment.
    • Unified Reporting: The introduction of the MI dashboard centralised all reporting, streamlining financial crime reporting requirements under one framework.
    • Holistic Oversight: The transformation empowered the firm with a robust mechanism for challenging and overseeing financial crime risks across the firm.
    • Confidence in Data: Increased confidence in data accuracy, completeness, and timeliness boosted trust in end reports.
    • Transparency Achieved: Understanding the journey of data from its source to the final report increased transparency and accountability in the reporting process.
    • Timely Insights: The alignment of targeted information delivery ensured that the appropriate stakeholders received pertinent information at the right time, enhancing the firm’s ability to respond to risks.

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