Forensic Compliance Support

  • To evaluate its forensic process and bring it up to industry standards

  • Prepare and execute a test inventory

  • Draw up a three-year roadmap for technology and data uplifts


CLIENT CHALLENGES
  • Consolidation of global sets of data, which were fragmented
  • Creation of structured list of risk-based reviews prioritized by theme and year-on-year spread for holistic coverage
  • Identification of leading regulatory themes across all jurisdictions (including culture & conduct and supervision & governance) to ensure firm’s internal policies were in line with these themes
OUR APPROACH
  • Phase 1: White boarding and pilot
    • ­ Acuity coordinated with the Compliance Forensic team to understand reviews being conducted and the team’s approach to the forensic compliance program
    • ­ Conducted a comprehensive review of existing policies and procedures to benchmark them against industry best practices and legal/regulatory requirements
    • ­ Carried out a 3-month pilot to develop an initial inventory of the tests
  • Phase 2: Migration and delivery
    • ­ Proof of Concept: The team focused on three distinct areas – forensic subject matter, data, and technology
    • ­ Created an exhaustive data dictionary to identify data sources and gaps
    • ­ Created a road map with a broad suite of forensic reviews to address the firm’s risks identified during analysis
    • ­ Performed deep-dive reviews for forensic themes identified post analysis
    • ­ Imitated its policy testing to understand the effectiveness of the policies implemented and ascertain whether further controls were required
    • ­ Created a workflow solution prototype with rich visualization, using rules, workflow, and reporting dashboards
Benefits
  • Consolidation of data sources under common tools to depict trends
  • Effective implementation of compliance processes
  • Time and cost saving from automation of manual reports for C-suite audience through rich visualization
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What we have done

Best Execution Forensic review for an EMEA Asset Manager
What we are proud of

>50%

savings in staffing costs

25%

increase in outreach

Emerging Regulatory Risk Adherence for a Global Financial Services Firm
What we are proud of

>50%

savings in staffing costs

25%

increase in outreach