Managing Director, Risk & Compliance
Bernadine is a Managing Director within our Financial Services Industry (FSI) Regulatory practice in the UK. Prior to joining Protiviti ten years ago, Bernadine was a Director in KPMG’s Regulatory Services practice. A chartered accountant by training, Bernadine has over 27 years financial sector experience, including 17 years at KPMG, as a highly regarded regulatory expert within FSI. Bernadine has been working on AML and sanctions advisory and remediation projects since 2000. Bernadine also spent nine years in the KPMG Audit practice where she managed a variety of financial sector external and regulatory audits. Bernadine has diverse advisory experience, ranging from regulatory compliance to money-laundering investigations experience, especially in securities trading, investment management and banking. She is currently registered as an Individual Skilled Person for FCA/PRA Skilled Person’s review panel.
Regulatory investigations and Skilled Persons reports – Bernadine has also led five complex regulatory investigations (commissioned under s166 of the FSMA and the predecessor regimes under the Banking Act 1987 and the SFA’s rules) on behalf of the FSA covering anti-money laundering controls and policies, customer due diligence and account opening procedures, testing client files for AML compliance, governance arrangements, risk management, compliance function and compliance oversight, and other Conduct of Business issues, including suitability of advice.
- Regulatory Change – Bernadine has helped a variety of financial services firms deal with regulation affecting both regulatory compliance (e.g. MiFID and MiFID2, FCA Handbook changes) and financial crime compliance (e.g. 3rd and 4th Money Laundering Directives, Criminal Finances Act, UK Bribery Act). This has included setting up appropriate project structures, conducting impact and gap analyses, advising on policy, procedures and systems changes and quality assurance and post-implementation reviews.
- Other regulatory experience – Bernadine has managed advisory reviews of compliance and monitoring arrangements including detailed Conduct of Business reviews for investment banks, securities traders and investment management firms. More recently, she has assisted a number of banks prepare for FSA Arrow risk assessment visits and conducted reviews of transaction reporting compliance. She has worked with a variety of financial institutions to review and improve their governance and Board effectiveness.
- Major AML reviews and remediation projects – Bernadine led the delivery of major anti-money laundering review projects for a major investment bank and a global hedge fund manager with its administration centre in Dublin. This included reviews of existing AML policies and procedures, development of global risk-based AML standards, a project to remediate client files, providing training to staff on AML risks and standards and quality assurance reviews.
- AML investigation at a US broker – Bernadine undertook an investigation to determine AML obligations under UK and US rules in relation to reliance, client ownership, SAR reporting and transaction monitoring. The report was presented to the FSA.
- Bernadine led KPMG’s MiFID solution and delivered a number of impact assessments, gap analyses and implementation projects to a variety of buy- and sell-side firms covering diverse areas such as transaction and trade reporting, best execution, conflicts and suitability & appropriateness. She is assisting a number of clients with their MiFID II programmes including transaction reporting requirements, assurance and implementation projects.
AREAS OF SPECIALISM
- Governance and Board Effectiveness
- Regulatory Compliance
- Securities Trading
- Anti-Money Laundering
- Anti-Bribery and Corruption
- Investment Management
- Regulatory Investigations
- Risk Based Compliance Monitoring
- Financial Services – specialising in Regulatory Compliance
EDUCATION & PROFESSIONAL AFFILIATIONS
- M.Commerce, Natal, South Africa
- Member of the Institute of Chartered Accountants in England and Wales (ACA)
- Chartered Fellow of the Chartered Institute for Securities and Investments (CISI)