Page 9 - The Standard - January 2019

Performance

Since the compliance team took over the
residential new business process on 1 November
st
2018 we have received a thread of positive
feedback from both centres and the sales team
and have successfully managed to reduce the
end to end onboarding process from 34 days to
15 days.
Plans are in place to take on the full AML process by the end of
the year. To support this we will also be introducing an AML portal
which we hope to streamline the process further and make it a
more client friendly experience.
The Finance team has been very busy since the sale transaction
focusing on accounting for all of the sale related expenditures,
dealing with third parties to update KYC information and setting
up new approval processes in NAV. Some of these expected
changes will significantly change the existing processes and
include:
- Creditors will be paid on time; ASSUMING that everyone ensures
that transactions are fully approved by the end of each week
so we can include approved invoices in the bank run which we
process on Monday.
- We have enhanced our transaction approval processes; there
are different limits for each person’s approval and everything
will be processed through the system, paper approvals won’t be
accepted after an initial transition period.
- We have new people: Gulizar and Eszter have left LEO and we
will be introducing their replacements as they come on board.
Any questions can be directed to James Matthews or David
Smart until they are in place.
January 2019