RE: Steering Committee Presentation [C] [I]
Dear all,
EFTA01399463
please find attached the presentation for today's Steering Committee.
If you have any questions regarding the presentation, please get in touch.
Best Jakob
Jakob Hahn
Consultant I passcon GmbH
{Consulting Solutions with Pass}
Neuer Wall 63 | 20354 Hamburg I Germany
Tel.:
XING | LinkedIn
Sitz der Gesellschaft: Hamburg I Geschaftsfuhrung: Corinna Reibchen Registergericht: Amtsgericht Hamburg, HRB 141202
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EFTA01399464
Thomas,
Good afternoon.
As mentioned we have an audit of the Private Bank on our draft 2019 audit plan. The timing and scope of this audit is still to be determined, but clearly at some point we want to carry out an audit of the 1LoD controls in place over initial client due diligence and ongoing KYC reviews. Regarding the timings of such an audit I see from the most recent steering committee deck that you are planning to have zero HR overdue reviews by year-end, but the remediation of the overdue LR and MR clients will continue throughout 2019 and is expected to be completed by end of May 2020. Is this correct?
EFTA01399462
While we are not planning to carry out an implementation review as such, we want to come in at the right time without impacting delivery of the project. To this end let me know your thoughts regarding timings.
Also, on related note I saw a draft SII relating to the project but not the final version. Is this now finalized in dbTrack? If so then please send me details.
Finally, has there been a recent segmentation exercise carried out of the WM Americas client-base (e.g. numbers of clients domiciled in countries in LatAm versus USA, including the size of accounts and which products they are invested in)? If so then please send me a copy as I would like to get a better understanding of our existing client base.
Thanks.
Rgds,
Just.
Hi Justin,
thanks for your note!
We now plan to even further accelerate the LR/MR remediation to be completed by YE2019. The efforts of doing that (10,000 files + regular review + simply delivering on the revenue plan) will be enormous for the staff.
EFTA01399461
If there would be any change to postpone the review after the remediation is complete, it would of course be perfect. If I can ask for an ideal timing in 2019, I would probably tend towards late 2Q/3Q. How long do you think the audit will take and how much support will you need from what people?
Re SII, I cc Oliver: Oliver, are you aware of what was the latest we uploaded into the SII? I believe Ian never came back on the final wording? If need be, we can use his visit next week to get this formally closed.
Re the segmentation exercise: not sure that we did what you are looking for. The purpose was somewhat different but let me follow up and come back toy ou.
Thanks again.
Thomas
Thomas,
Good morning. Thanks for your email. Given the ongoing KYC remediation project we have decided to carry out the audit of the 1LoD KYC controls in 2020 once the current remediation exercise is completed. We will obtain coverage of the Private Bank in 2019 via the audit of Covered Clients. Once the audit plan for 2019 is finalized I will of course circulate a copy to yourself and Oliver.
Regarding the segmentation exercise this may be linked to the ongoing KYC remediation project or something that was produced independently of this exercise. I know in EMEA that the local strategy people reporting to Pedro would put together this kind of analysis on a regular basis. If not done for the project then can you point me in the direction of someone else who may be producing this information? Thanks.
Rgds,
Just.
Thomas,
Good afternoon. Back to the topic of the segmentation exercise (see below), can you please send me some information to assist with the planning for the forthcoming new business initiatives audit. In particular:
All new clients onboarded in 2018; including location, name of relationship manager, sub-GMT (Americas or LatAm), net new assets and which products.
Net new assets from existing clients in 2018; including client location, name of relationship manager, sub-GMT (Americas or LatAm), and which products.
All new client-facing staff hired in 2018; including hiring date, office location, sub-GMT (Americas or LatAm).
Presentations outlining WM Americas' current new business and growth strategies.
Thanks.
Rgds,
Just.
Hi Justin,
happy to help:
Oliver and Zia have been looking into your #1 and we could share that. Oliver, is that correct?
#2, Donna Kerrigan can probably share with you the best available analysis. Breaking this immediately down to single client might not be the most effective way to start with. If Donna sends what we have, we might take it from there?
#3: Julia can get you the data
#4: Patrik will send what we have. Please keep in mind that LatAm strategy is currently being renewed with George Crosby on the platform and we can send you an early draft, but work will continue until Feb.
Let me know if you needmore.
Thanks
T
Classification: For internal use only
Justin:
By when do you need this info. For Audit kick-off in Jan or even prior? Can we send piece mail or do you prefer/require consolidated deck? Best Oliver
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Oliver Esslinger
Director I COO
Head of Business Integrity Americas
Deutsche Bank Wealth Management
Deutsche Bank Trust Company Americas
Postal address: 345 Park Avenue, 14th floor, New York, NY 10154, USA
- Postal address: 345 Park Avenue, 14th floor, New York, NY 10154, USA
- Website: www.deutschewealth.com
- Tel.: [redacted — black bar]
- Fax: [redacted — black bar]
- Email: [redacted — black bar]
Oliver,
Good morning. Prior if possible and drip feeding is fine. Thanks.
Rgds,
Just.
Classification: Confidential
Hi Justin:
Since you did not mind piece mail please note that Donna K. already provided you with NNA data (2nd bullet), Please also find enclosed screen shot for 3rd bullet confirmed by CAO and HR 1st bullet response attached via excel, which has everything except AuM — see reference to 2nd bullet. Patrik may have already shared insights on #4 otherwise deferring to him.
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PS: Melanie cc'd is also working on a consolidated deck we can share with you lateron this year.
Best
Oliver
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Oliver Esslinger
Director | C00
Head of Business Integrity Americas
Deutsche Bank Wealth Management
EFTA01399456
Deutsche Bank Trust Company Americas
Postal address: 345 Park Avenue, 14th floor, New York, NY 10154, USA
The image displays contact information with the details blacked out. The categories provided are: Tel., Fax, and Email.
Oliver,
Good afternoon. Thanks again for this. Are you now able to provide information for December too?
Rgds,
Just.
Classification: For internal use only
Hi Justin.
Apologies, but can you specify what it is that you are looking for for December?
If you are interested in all new clients onboarded in 2018; including location, name of relationship manager, sub-GMT (Americas or LatAm), net new assets and which products, I defer to Brian cc'd who put the attached excel together through December 14th or 15th I guess.
If you need anything else please reach out again, thank you
Oliver
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Oliver Esslinger
Director I COO
Head of Business Integrity Americas
Deutsche Bank Wealth Management
Deutsche Bank Trust Company Americas
Postal address: 345 Park Avenue, 14th floor, New York, NY 10154, USA
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| Field | Value |
|---|---|
| Tel. | [redacted — black bar] |
| Fax. | [redacted — black bar] |
| [redacted — black bar] | |
| Source (context) | www.deutschewealth.com |