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

Improved customer perception

Increase in sales for client

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

Improved customer perception

Increase in sales for client