Originally featured on Forbes.com for Crowe BrandVoice
As part of the due diligence process within bank M&A, leaders need to build an integration strategy that mitigates financial crime risk.
When a merger or an acquisition occurs, executives need to recognize the complexity involved in integrating two financial crime programs. Critical questions to address include: Who will lead? Who should be retained? What elements of each legacy program should be brought into the combined financial crime program? And how can the program be streamlined?
Given the various components involved in integrating two financial crime programs, organizations must take steps for a smooth transition after a merger or acquisition to develop a program to support the combined bank. By taking an approach that involves people, process, and technology, organizations can address risks and integrate successfully.