Accenture reviewed the anti-money laundering (AML) processes of a leading life insurer in Asia Pacific, helping it to develop an AML target operating model (TOM) to serve as a regional blueprint, and providing recommendations to transition to the model.
The project was conducted in two phases comprising a current state assessment, and the design of the AML TOM. The Accenture team drafted the design principles to drive the scope of the current state assessment and obtained stakeholder buy-in. The findings of the assessment were then documented in Responsibility Assignment Matrices (RACIs) identifying roles and responsibilities, and Swim Lane (Rummler-Brache) Diagrams that map processes and the connections between contributing or affected stakeholders. Once these findings were validated with the client, the team developed and proposed high-level recommendations to address current state issues, comply with regulatory guidelines and align with market reference points. These changes were again documented in the RACIs and Swim Lane Diagrams, with AML risks and corresponding controls visually reflected in the Swim Lanes.