-
100%
review of tracking securities trading
-
30%
reduction in client workload
-
35%
reduction in compliance cost
CHALLENGES
- Bandwidth constraints prevented the client from focusing on various critical compliance tasks, and they were missing compliance milestones related to key industry regulations
- Lack of comprehensive policies, procedures, and other compliance-related documents impeded an effective compliance programme
- We noted a lack of compliance domain expertise to perform multiple tasks
SOLUTION
- Acuity Knowledge Partners' solution was split into two phases:
- Phase 1 : White boarding and documentation
- Focused on identifying crucial tasks for streamlining from the client’s perspective
- Conducted comprehensive review of existing policies and procedures to identify gaps for the identified tasks
- Came up with suggestions that benchmarked the policies and procedures against industry best practices and legal/regulatory requirements
- Phase 2 : Migration and delivery
- Offshored 10+ critical tasks in a phased manner to ensure process continuity
- Deployed a train-the-trainer model
- Tasks migrated to Acuity’s offshore utility include:
- Guideline coding and monitoring
- Post-trade review
- E-communication monitoring
- Code of ethics/tracking securities trading
- Due diligence
- Regulatory Filings
- MNPI Monitoring
- Migrated many processes over the years due to continual delivery of superior services
BENEFITS
- Reduced the client’s workload by 30%
- Streamlined processes allowed for:
- 100% review of tracking securities trading
- 3x review of e-communication
- Formulated robust procedure for validating fund investment guidelines, which eliminated redundant steps in the process
- Suggested industry level best practices to reengineer compliance workflows
- Helped reduce compliance department costs by 35% (as a result of our offshore presence)
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