Bio – UnityFCS

Sally Waddingham

Principal

Mortgage Financial Crime Specialist Consultant

“Financial Crime poses an increasing and significant threat to those working within the Financial Services, and especially those working on the front line. Evolving global crises, such as the Covid19 pandemic, creates new criminal opportunities and emerging financial crime risks, as businesses and individuals face financial stress, a changing work environment, against a challenging economic backdrop. It’s essential that we all understand the risks and know how to stay safe.”

Biography

Current Aims

I launched my business, Unity Financial Crime Services (FCS), to share my vast expertise and knowledge around financial crime risk, with a wider audience. I am passionate about supporting businesses and individuals, to help protect you, your clients, working partners and the wider community. I mainly support those within the mortgage lending and property sector, helping to mitigate losses, meet regulatory and legal requirements, improve business quality, build relationships, improve customer service and protect your reputation, so that you continue to run a successful business.

Career Experience

My career spans over 34 years, working for a large financial institution, with over 30 years managing and mitigating financial crime (FC) risk. I have specialised within the mortgage and lending area since the start of 2007. This sector has had to respond to the increasing and complex financial crime threats, particularly following the latest recession and the introduction of specialist and niche lending products and digital channels and technology.

Career Highlights

In response to increasing mortgage fraud activities and risks, I developed and led a successful specialist Mortgage Fraud Team, also acting as a FC SME, supporting the lending and mortgage areas, to mitigate and manage FC risks more effectively. My Team built strong and trusting relationships across the mortgage, lending underwriting and Intermediary Sales Teams, raising FC awareness through the implementation of interactive training, guidance and best practice techniques, whilst understanding the importance of improving business quality and the customer experience.

My role also supported the business with intermediary, legal and valuation panel management activities, advising around professional risk and supporting the monitoring and management of lender panel oversight, appointments and removals. I acted as secretary to the Senior Management, Financial Crime Risk Committee. This included keeping the business and senior colleagues informed of mortgage and lending emerging risks, through the attendance of committees, taking minutes and the production of detailed management information.

Wider Industry Knowledge

On a wider scale, I actively participated on various Industry Financial Crime Panels, working in partnership with the FCA, SRA, Mortgage Lenders, Trade Bodies, Intermediary Compliance, Fraud Technology suppliers and Law Enforcement, sharing intelligence and best practice and helping to successfully improve, manage and mitigate FC risk across the industry, through a unified approach. This experience provided me with invaluable knowledge and expertise, across a wider range of topics and issues involving the public and private sector and various Trade bodies.

Reporting Financial Crimes

I was responsible for investigation of complex mortgage fraud and money laundering cases, involving organised crime groups (OCGs). This involved the provision of strong evidential packages to Law Enforcement, to help secure successful criminal and civil prosecutions and support internal and criminal loss recoveries. Gaining insight into criminality and the methods used helped me to work more effectively to support the business and improve lending controls and criteria, raising awareness around FC risk, to mitigate future threats, whilst meeting legal and regulatory requirements. My Team built close relationships with the FCA, receiving positive feedback for reporting serious fraud issues, via their ‘ Information From Lender Scheme’ (IFL). These ‘real life cases’ provide fascinating insight during training sessions, bringing the risks to life, helping delegates understand the part they play and how to meet legal and regulatory responsibilities.

Currently

Since launching as a freelance FC consultant, I have been working within the private sector, supporting Mortgage and Lending Compliance firms, IFAs, Mortgage Intermediaries and advisers, raising financial crime risk awareness through various training events around the country. Sharing insight around real life case studies, reviewing false documents and making the sessions interactive, ensures I hold the attention of delegates and they take away relevant and valuable knowledge to put into practice back at the office. My expertise around lender panel management is a real asset when supporting advisers with increasing lender panel removals and issues. I have been sharing best practice, providing guidance and helping firms engage with lenders to discover root cause to instigate remedial actions and rebuild relationships to protect their reputation and livelihood.

Keeping You Safe

Most issues arise due to lack of experience, knowledge and awareness and it is absolutely essential that everyone plays a part and understands the risks, to adopt a proactive approach with regards to mitigating and managing financial crime activities. I also believe in the importance of building trusting and strong relationships across your networks. Working in partnership ensures that you mitigate risks more effectively and can engage with relevant parties, if issues do arise.

Please feel free to contact us for a friendly, no obligation chat to see how we can work in unity, to help you stay safe and secure a successful future for you and your business.