Financial Sanctions risk management | Deloitte UK has been saved
As the sanctions landscape continues to change, we wanted to better understand the unique challenges the Energy trading and supply sector is facing with respect to financial and trade sanctions. We invited experts from the Office of Financial Sanctions Implementation (OFSI), Shell International Trading and Shipping Company and the Department for International Trade (DIT) to share their insights with us at a roundtable. The highlights from the session are below.
Regulatory change continues to be a challenge for many organisations and this is no different for those operating in the energy trading and supply sector:
In addition to evolving regulation, guidance with respect to the management of sanctions risks also continues to evolve:
Effective management of sanctions risks is proving difficult due to a number of key challenges faced by organisations in the energy trading and supply sector, which include:
This is the first in our series of roundtable for the energy trading and supply sector, which will cover a range of topics that will help organisations in the commodities trading sector manage their financial crime risks in a more robust way.
If you would like to join our mailing list to receive invitations for future events please contact Rawad Halawi.
An international lawyer by background, Stacey Toder Feldman leads our Forensic practice for the Energy, Resources and Industrials industry across EMEA and is also the UK Mining & Metals Sector Lead. Stacey has over 20 years’ experience advising clients on all aspects of the economic crime compliance lifecycle, in particular on global export controls, trade and economic sanctions, customs fraud, anti-bribery and corruption, fraud and related workplace misconduct. She provides a range of advisory and reactive services including: complex, multi-jurisdictional investigations; regulatory driven enquiries and related settlement agreements; risk assessments; target operating model design; gap analyses; forensic SME audit support; M&A due diligence; internal investigations and workplace misconduct matters; voluntary self-disclosures and related corrective actions. Stacey also specialises in designing bespoke global outsourced and co-sourced managed investigations services. Stacey works with clients from a wide range of industries, with a particular focus on energy, resources and industrials, and especially mining and metals, oil and gas, chemicals, manufacturing, trading, shipping, and industrial products. Stacey co-leads our firm’s critical minerals strategy campaign and recently authored an article series looking at the supply chain challenges of critical minerals. A strong supporter of the diversity agenda and promoting inclusion in the workplace, Stacey is co-partner sponsor for Deloitte’s Gender Balance Network and supports a range of people and purpose-related initiatives across the firm.
Katie is the Partner in charge of Deloitte’s UK Forensic practice. With over 23 years’ experience working in the Financial Services industry and more recently in the energy and commodities trading sector, Katie has significant experience in Financial Crime, regulatory investigations, and transformation programmes. Katie sits on the firm’s FS Women in Leadership Council and is passionate about supporting diversity and inclusion at work and was a previous winner of the UK Timewise Power Part-Time list in 2014.
Rawad is a Partner with Deloitte UK Financial Crime practice specialised in leading financial crime change and transformation programmes and solutions in the regulated sector, with particular focus on capital markets, commodities and energy trading. Specialism in Financial Crime (FC), Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF) and Sanctions. Experience across Governance, Policy, Process, Operating Model Design/Delivery, Change Management, Digital Transformation and Automation. Strong combination of change management and technical experience across Financial Crime disciplines. Excellent track record in leading and delivering major complex Financial Crime Change Programmes Solid international network in Financial Crime Strong track record of operating independently and being successful and credible at senior management level Proven ability to lead large teams and a role model for talent Strong track record in risk management and ensuring high quality of delivery