Outsourced Assurance

Overview

Financial services firms are expected to provide frequent updates to their regulators, clients and investors regarding the adequacy of the firm’s internal controls and safeguards in relation to data, assets managed or held and valuations.

Additionally, financial services firms are coming under increased pressure to undergo independent monitoring and are expected to demonstrate transparency over the controls in place for mitigating risks that impact their business.

A strong control environment helps to formalise processes, mitigate risks and vulnerabilities and achieve operational efficiencies and improvements. This environment ultimately acts as a sound foundation for dealing with future growth and with common industry and unique entity issues.

Potential issues

You need assurance on the strength of your regulatory compliance controls
You need to outsource a business area and want to ensure that the relevant regulatory requirements are complied with
You need to restructure a particular process or business area and want them to be regulatory compliant and aligned with best practice guidelines from supranational bodies like the EBA, EIOPA, ESMA and the Basel Committee

How can we help?

Our team has a range of experience and expertise in providing outsourced assurance on regulatory compliance. We can help in the following ways:

Create and implement new frameworks and provide you with feedback regarding process changes
Test your processes, procedures and systems to assess your compliance with the codes of conduct and other regulatory requirements
Provide direction regarding the outsourcing of business areas or the restructuring of business processes
Assist with Regulatory investigations and inquiries (e.g. Payment Protection Insurance Review)
Inspections of dormant accounts and unclaimed life policies
Audits against the Client Asset Requirement (CAR)
Perform diagnostic evaluations of current controls to identify control gaps or design deficiencies.