All regulated Financial Institutions, and some non-regulated Institutions would require ongoing support to ensure that they keep abreast of regulatory developments as well as best practice standards for their business to function well.
This may involve the following:
- Ongoing regulatory support to prevent regulatory and mandate-specific breaches and to respond appropriately to regulatory inquiries
- Drafting and/or amendments of the applicable policies and procedures when regulatory updates and changes occur, in accordance to your specific business strategy.
- Regular meetings and updates with your key personnel to keep them informed of prevailing requirements and changes thereto
- Assistance with implementation of control functions and processes
- Implementation of compliance plans, calendars and monitoring frameworks as prescribed by your particular license-type and business model
- Risk Management support based on the scale and complexity of your business, which may include business risk assessments and reviews of the effectiveness of the risk management function within your business and strategy
- Ad hoc support and advise as required