We love dealing in risks!
In today’s dynamic financial services ecosystem, strategic risk management is more critical than ever. As seasoned professionals with extensive experience across renowned institutions such as Standard Chartered Bank, HSBC, GE Money, ICICI, and Citibank, we bring valuable insights to the table and solve it for our clients.
It’s Never Too Late To Start Preparing For The Future
Risk Discovery
Holistic approach to identify latent risk or hidden vulnerabilities to safeguard Financial Institutions and ensure compliance, enhancing stability and growth.
Risk Mitigation
Risk management extends beyond siloed approaches, integrating product, operations, technology and compliance into effective frameworks.
Enabling Technology
We help find new solution, improve existing one or build from scratch, by leverageing AI, ML and behavioural analytics to bring in real time monitoring models to manage risks.
Ensuring Compliance
We provide guidance on compliance frameworks, reporting obligations, and audit readiness to address regulatory gaps and ensure seamless adherence to evolving standards.
We provide extensive consultancy and support services to adhere to industry standards including DIFC / ADGM compliance.
ADVISORY SERVICES
We enhance compliance by addressing significant breaches, guiding best AML practices, and writing AML manuals. We evaluate policy structures for financial crime and reputational risk and assist during fraud investigations and regulatory scrutiny with expert support.
OUTSOURCING SOLUTIONS
We offer flexible, cost-efficient compliance solutions without needing a full-time employee. Our experts support roles like MLRO, Compliance Officer, ensuring adherence to AML regulations. We identify and mitigate risks, guide regulatory updates, and allow scalable compliance resources for peak periods or special projects.
REGULATORY TECHNOLOGY (RegTech)
In the rapidly emerging technology landscape, we expect more institutions combining their fraud and AML defence mechanisms to form a new paradigm called FRAML. The Think Box team understands the inherent links between frauds and money laundering, the present fragmented systems to build RegTech solutions for clients needing to integrate with FRAML, or to automate current manual processes.
Chinmaya Meher
Managing Partner
Chinmaya’s impressive career in banking and financial services spans 25 years, during which he has held key roles in various domains. As the Head of Client Onboarding at Standard Chartered Bank, UAE, Chinmaya was responsible for developing and driving an end-to-end client onboarding journey for SCB UAE. His scope covered Digital Onboarding, Application Processing, Credit Underwriting, Fraud RiskManagement, Collateral Management, Dispatch, and Archival for various products (CASA, Credit Card, Mortgage Loan, and Personal Loan).
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ADVISORY SERVICES
Compliance Enhancement: We conduct comprehensive assessment to address significant breaches promptly, ensuring timely reporting and resolution.
AML Documentation and Reviews: We guide clients on best practices, conduct AML reviews to mitigate risks, and write AML manuals to ensure compliance.
Policy Relevance and Design: Policy structures and procedures play a critical role in financial and reputation related risks. We evaluate existing policies & recommend enhancements.
Fraud Mitigation and Regulatory Investigations: When firms face fraud allegations or regulatory scrutiny, we provide expert assistance during investigations, enforcement and remediation.
OUTSOURCING SOLUTIONS
Tailored Solutions: No need to commit a full-time employee to meet your unique needs regarding risk assessment, compliance and mitigation. We will adapt to your operations strategy, give you flexibility and cost efficiency.
Compliance Officer Support: We help man critical roles like Money Laundering Reporting Officer and Compliance Officer. He is supported by a team in all programs including AML and complying with local and international regulations.
Risk Mitigation and Reporting: Thinkbox consultants assists in identifying and mitigating compliance risks. Our experts ensure risk assessments, implement controls, and monitor adherence. Regular reporting ensures accountability even in complex regulatory environments.
Regulatory Updates and Guidance: Our team will help you guide the regulatory maze. We keep you abreast of regulatory changes, of evolving requirements, and provide timely guidance.
Scalability and Efficiency: Outsourcing allows organizations to scale compliance resources, without avoidable overhead expenses, for peak periods or projects requiring additional support.
REGULATORY TECHNOLOGY (RegTech)
In 2024 we expect more institutions combining their fraud and AML defence mechanism to form a new paradigm called ‘FRAML’. By understanding the inherent links between money laundering and fraud, institutions can reduce false positives, improve the speed and experience of customer onboarding, and transaction monitoring
To address the fragmented and inefficient systems, Think BOX Consultants endeavours to build a very innovative solution where teams will have access to the same fraud and AML data and customer views, allowing them to make far more accurate risk decisions.
The shared AML and fraud risks data will become a core data asset for the organization and the key to maintaining accurate and up to date customer views. Shared data will drive customer and risk decisions that benefit both the top and bottom line, protect customers, and close loopholes that criminals are currently using to prevent fraud, including the ability to identify money mules and their accounts.