PwC will work with you to develop optimal workflows, management reporting, and dashboards tailored to your organisation and PCFs.
Is your Individual Accountability Framework (IAF) helping you execute your Senior Executive Accountability Regime (SEAR) requirements effectively?
PwC’s Accountable Compliance platform simplifies the complexities of the IAF and SEAR. Our comprehensive RegTech solution centralises all compliance activities, ensuring you meet regulatory requirements efficiently and accurately. Discover how our managed services can streamline your organisation’s compliance processes and provide peace of mind.
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Individual Accountability Framework
Key challenges in implementing the IAF
Implementing the new IAF presents several challenges. Firms often struggle with interpreting and implementing extensive regulatory requirements, and manual compliance processes involving repetitive data gathering and manual input are prone to human error.
Additionally, the absence of a single source of truth leads to inconsistencies across different systems like the Minimum Competency Code (MCC) register, HR system, and IAF records, while documentation stored in various formats often gets duplicated and is not repurposed effectively.
Finally, maintaining up-to-date and accurate records over time complicates the audit trail — especially when roles change.
PwC’s Accountable Compliance — your IAF RegTech solution
PwC has partnered with a RegTech provider to offer our IAF platform, Accountable Compliance. This platform serves all your IAF and SEAR needs in one place.
Our managed service supports clients with ongoing annual compliance obligations under IAF, even post-implementation.
The service provides firms with a single data source, operationalising compliance obligations. Key benefits include:
- secure access for relevant teams;
- an up-to-date record of Pre-Approval Controlled Function (PCF)/ Controlled Function (CF) personnel changes;
- expert regulatory input;
- a complete audit trail of SEAR documentation;
- a reasonable steps framework;
- centralised storage for critical documents;
- version control;
- customisable reporting and dashboards; and
- fitness and probity certificate generation.
Features and benefits
Unlock streamlined workflows, enhance your organisation’s reporting and achieve SEAR compliance with PwC’s tailored solutions.
Implementation
Analysis and design
Ongoing maintenance
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Accountable Compliance
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Risk and Regulation
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How we can help
PwC’s Accountable Compliance IAF digital platform provides a single source of data, automating the production of crucial documentation and operationalising compliance obligations under the IAF. This ensures a unified view of both employees and entities, with complete data governance and traceability.
Our managed service offering supports ongoing annual compliance obligations under IAF, even post-implementation. Contact us today to discuss any aspect of IAF, SEAR, or our new Accountable Compliance tool.
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