Palak joined ICSR in August 2022 to work as part of our Compliance Team, advising clients on all aspects of their compliance, complaints and licensing requirements. She has a strong understanding of the KYC and Sanctions regulations, including experience providing training on these issues. Her expertise spans the company and Lloyd’s market, including the submission of regulated data such as ICAAP, LRAP and RMAR. Palak has a Diploma in Governance, Risk and Compliance (Merit) and a Graduate Diploma in Law.
Palak has almost 10 years of experience working in a legal and compliance environment, spanning a variety of roles, including significant time managing complaints in line with FCA standards. She spent over 3 years working in a variety of roles for Charles Taylor, assisting with their anti-money laundering and know-your-customer work as well as working to identify and escalate general issues of non-compliance. She most recently worked as a Compliance Analyst for Liberty Specialty Markets. Her responsibilities have included monitoring procedures in line with the compliance plan and drafting MI reports for various committees, as well as providing training on her specialist areas of knowledge. She supports our client’s compliance-related requirements across a range of areas.
Palak’s specialist areas include:
- Assisting clients with compliance controls and function reviews
- Strong understanding of KYC and Sanctions
- Advising clients on financial promotions, complaints & licensing requirements
- Product Governance reviews, including fair value assessments
- Consumer Duty gap analysis and implementation planning
- Reviewing and updating financial crime policies
