Guarantee the compliance of activities within the framework of new regulations

Context

The sapin II law does not apply to 100% Luxembourg life insurance contracts, however the subsidiaries of French insurers established in Luxembourg are in difficulty.
Indeed, they have funds with guaranteed capital whose management of the euro fund is delegated to a reinsurer, which happens to be the parent company: in France.
Subscribers may therefore be unable to redeem their euro fund if these measures are applied by the French High Council for Financial Stability.

Mission

Update customer files that may be impacted by the Sapin II law.

Support the team in the context of an increase in activity.

Client: Subsidiary of a French life insurance company established in Luxembourg.

Actions

• Identification of beneficial owners.
• Identification of PEPs (Political Exposure Persons).
• Updating customer KYC files.
• Reduce the number of KYC/KYT alerts.
• Maintain and develop positive working relationships with all stakeholders, internal and external, to support the achievement of key results.
• Contribute to process improvement.

Technology: Worldcheck; Internal tools (Game, Kiosk); Outlook.

Education

“In a context of high activity, cooperation between the two entities and the quality of communication remain the determining factor in the smooth running of a merger.”