Hitesh N Patel

Partner, Forensic

KPMG in the UK

Hitesh has more than 25 years of cross sector and border experience in the area of investigations, regulatory non-compliance, employee misconduct and business risk management. He is our UK risk consulting lead partner for a number of banks and has lead various sensitive engagements including a series of internal investigations involving regulatory issues and remediation for FX and transaction monitoring.  His experience also includes:

• Undertaking a significant and complex three year regulatory investigation for the Ministry of Finance of an off-shore issue relating to complex investments spread across at least 22 jurisdictions and covering over 250 entities.

• Leading a global anti-money laundering remediation for a UK bank in response to failings highlighted by US regulators, involving about 200,000 plus client accounts and deployment of the latest technology.

• Undertaking an internal audit review of the financial crime governance framework design and operational effectiveness for a major retail bank.

• Overseeing the clearance of a backlog of transaction monitoring alerts for an European bank including: a review of their alert rules compared to similar environment(s) as supervised by the local regulator; and assistance with developing a QA and QC process in respect of reviewing alerts.

• Investigation into theft of client funds by a trusted employee of a bank subsidiary, ultimately resulting in the criminal prosecution of the individual as well as effectively preserving the key affected client relationship, helping
successfully manage the resulting regulatory enquiry and achieve financial
recovery.

• Leading a major investigation at a UK bank involving violation of numerous regulations in multiple jurisdictions across EU and US requirements. The resulting fines and regulatory enforcement actions were minimised by having a clear plan to anticipate the requirements of each of the relevant authorities.

• Assisting a UK bank to investigate and manage its exposures with the regulators in relation to US/EU sanction violations, created by the business activities of one of its corporate clients.

Education and qualifications

  • ACA - Institute of Chartered Accountants in England & Wales

  • B.Sc (Honours) – Biochemistry Toxicology, University of Surrey

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