We train those who decide, and inform those who commit.
Carmagnole provides advisory support and executive training, and conducts targeted audits and business intelligence assignments for banks, schools, insurers, regulators and corporates, everywhere around the globe.
Three practices, one discipline.
We do not sell generic content. Every engagement is built on the regulatory reality of the institution in front of us, and on the international standards that increasingly govern its cross border relationships, from prudential and financial crime requirements to sanctions regimes and correspondent banking expectations.
Training
Executive programmes on banking risk, international payment flow investigations, crypto asset tracing and cross border operations.
- Risk and control
- Compliance and AML/CFT
- Audit and IT audit
- Branch and commercial
Advisory, audit and business intelligence
Design and steering of risk analysis and management programmes, targeted audit missions and due diligence.
- Risk programme design
- Targeted audit
- Enhanced due diligence
- Cyber risk and resilience
International development
We accompany partners entering or scaling in new markets, from regulatory mapping to operational deployment.
- Market entry
- Regulatory mapping
- Counterparty screening
- Operational set up
Thirty four programmes. One standard of rigour.
Standard format: three days, twenty one hours, delivered in person, remotely or blended, in English or in French. Extended pathway: a certifying expert programme in finance and banking risk running fifteen to eighteen days and concluded by a defence before a jury.
Risk and control
Strategic risk management, Expert pathway: finance and banking risk
Compliance and financial crime
Anti money laundering: auditing and strengthening your framework, Compliance and internal control in banking
Legal affairs and commitments
Practice of banking law: preventing client relationship risk, Fundamentals of financial law: markets and participants
Finance, ALM and performance
Asset and liability management, Banking financial control and performance
A collective of experienced practitioners.
Carmagnole brings together experienced practitioners, with fifteen to twenty five years of experience acquired within large international corporations and state institutions, in banking risk, internal audit, compliance, payment infrastructure and economic intelligence. Engagements are scoped and delivered by the same people. We work in English and in French.
Tallinn
Ahtri tn 12, Kesklinna linnaosa, 15551 Tallinn, Harju maakond, Estonia. Registry code 17131338, VAT EE102814152.
Libreville
Impasse Edowangani, Libreville, Gabon. Our operational base for engagements across Central and West Africa.
Analysis from the field.
Who pays when a correspondent leaves
A global bank closes a respondent account in a four-minute committee item and books it as portfolio management. The cost surfaces years later on the desk of a supervisor in Douala or Abidjan who was never consulted and has no instrument to answer with.
What a public ledger will not tell you about a stablecoin payment
Stablecoins carried 84 percent of recorded illicit on-chain volume in 2025, and every one of those transfers is permanently visible to anyone with a laptop. That combination explains far less about how these investigations actually run than most compliance committees assume.
The file is ready, the control is not: what supervisors test in the second line
Internal governance produced 17% of the qualitative measures issued in the ECB's 2025 SREP, and not one significant institution scored better than 2- on that element. The reason is not missing policies; it is that institutions assemble a presentable file where supervisors test an operating control.