How do you know that your systems and controls are working?

The fact that you are unaware of any gaps or failures in your compliance responsibilities does not mean that there aren’t any. Failure to conduct regular monitoring can lead to weaknesses growing, ending up in significant regulatory failure.

All well-run firms conduct regular independent monitoring of their activities to ensure that their systems and controls are being implemented as intended and that they are achieving their desired objective.

Why an independent review can be more powerful

Employing a third-party specialist to conduct your monitoring can be more powerful than in-house assurance activity, where those carrying out the reviews are not always truly independent.

We deliver independent compliance monitoring for many organisations and have done for years. In doing so, we can help bring a fresh view that can only be provided by an independent firm with experience in so many firms.

How we can support your Firm

CCL can help you by:

  • Risk-mapping your business against applicable rules and regulations to define a complete regulatory risk universe for your monitoring programme
  • Creating a bespoke, risk-based Compliance Monitoring Programme, which takes account of your business model, governance arrangements, activities, size, volume and the complexity of your business
  • Phasing the monitoring to ensure that all activities are monitored at least once over a twelve-month period, proportionate to their risk
  • Preparing a report which contains our detailed findings, which are prioritised by risk-rating
  • Making recommendations how to mitigate risks, weaknesses, breaches or remediate ineffective controls identified in the report

Where required, following the Compliance Monitoring review, CCL can provide support with remediation projects, provision of experienced resources and a follow-up review to confirm resolution of identified issues. Contact us to talk to one of our specialists today.

We have a dedicated team of experienced compliance consultants who can provide expert assurance and peace of mind. Get in touch to see how we can help your Firm.