Compliance Risk Management Leverages regulatory compliance to mitigate risk and enable innovation. There's a better way to manage the burden of regulatory compliance. Imagine if functions were aligned to business objectives, processes were optimised, and procedures were automated and enabled by data and technology. Regulatory requirements would be met with efficiency. Controls become predictive instead of reactive. Employees derive more value from their roles. The business can take comfort that their reputation is protected, allowing for greater focus on growth and innovation.Protiviti helps organisations:Integrate compliance into agile risk management teamsLeverage analytics for forward-looking, predictive controlsApply regulatory compliance expertise and utilise automated workflow tools for more efficient remediation of compliance enforcement actions or issuesDevelop regulatory compliance and performance measures that take into consideration customer needs, business objectives, and regulatory changesTranslate customer and compliance needs into design requirements for new products or servicesEstablish routines for monitoring regulatory compliance performanceDevelop, execute, and integrate a regulatory compliance technology ecosystem that enables efficient and effective compliance activities Integrate compliance into agile risk management teams Our Compliance risk management services Pro System Security FLOD:Compliance Readiness/Process Transformation/Monitoring and Testing We assist First Line of Defense (FLOD) with their overall compliance program and establish monitoring and testing activities to validate established processes and controls are effective in mitigating risk. Pro Location Globe Second Line of Defense (SLOD): Compliance Risk Assessments, Compliance Testing We assist clients with developing risk assessments, testing requirements or overall methodology. Compliance Risk Assessments and Compliance Testing are critical tools that SLOD can use to monitor compliance effectively and identify gaps. Pro Rightmark Square Third Line of Defense (TLOD): Audit Plan Development/Compliance Audits Protiviti focuses on documenting an Audit strategy to monitor companies’ compliance with applicable regulations and policies and procedures. Audit plans should be developed based upon a client’s level of risk acceptance. Pro Briefcase Compliance Management System (CMS) Reviews/Development Protiviti ensures all pillars of the CMS, board and management oversight, compliance program, and compliance audit work cohesively to mitigate risk. A CMS is an effective tool for companies to manage risk and foster a culture of compliance. Pro Document Stack Regulatory Change Management Protiviti’s helps clients understand the impact of regulatory change and how to implement the requirements to ensure compliance. Having an effective regulatory change management program is crucial in an ever-changing regulatory environment. Pro Document Consent Product Lifecycle Reviews Protiviti assists clients by taking a holistic approach, assessing risk from critical areas, including compliance, operations, privacy, legal and marketing when developing new, reviewing existing or retiring current products. Our approach Compliance can provide a unique competitive edge In a dynamic world, Protiviti’s agile risk management framework helps you fully understand the risks to your business and the critical information you need to protect it. A strong regulatory compliance function leads to more than reduced risk of non-compliance and regulatory penalties, but also to improved customer experience, enhanced brand loyalty, and increased value for stakeholders. While compliance is an understood necessity, it can also provide a unique competitive edge.Protiviti’s Compliance Risk Management Services include:Program Design and ImplementationProgram Self-AssessmentsMonitoring & TestingRisk AssessmentIssue Resolution and Customer Remediation Third-Party Risk Management Download Compliance can provide a unique competitive edge Leadership Shelley Metz-Galloway Shelley Metz-Galloway is a Managing Director in Protiviti’s Metro D.C. Office. She has more than 25 years in the financial services industry. Shelley offers expertise in consumer regulatory compliance, enforcement action response and remediation, compliance, fair ... Learn More Jeffery Allen Jeffery is a Managing Director in Protiviti’s Risk and Compliance Practice specialising in Banking and Capital Markets. He has over 20 years of experience in the areas of management consulting; advising clients on strategy, operations, IT, and risk. He has also worked ... Learn More WHITEPAPER Sanctions Risk Assessment: A Key Risk Management Tool Faced with the growing complexity of the geopolitical landscape, governments have been using financial sanctions increasingly as foreign policy tools to respond to developments as wide ranging as regional conflicts and wars, terrorism, and human... WHITEPAPER An Open Letter to CEOs and Board Members: In Support of the Compliance Function We’ve all heard it said: “Tone at the top” is critical to the success of a compliance function, and financial institution regulators expect CEOs and boards of directors to foster a “culture of compliance” in the institutions they oversee. We’d expect... WHITEPAPER Sanctions: Not Just a Financial Institution Issue For banks, sanctions-related enforcement actions and large financial penalties over many years have made clear the cost of non-compliance with sanctions obligations. For other types of financial services companies as well as for non-financial... PODCAST Risky Women Podcast | Top Compliance Priorities 2024 In this episode of Risky Women Radio, host Kimberley Cole, CEO of the Risky Women organisation kicks off Series 7 by discussing the predictions for 2024 in the field of risk regulation and compliance. She is joined by Carol Beaumier and Bernadine... WHITEPAPER 2024: Global Sanctions Outlook for Financial Institutions KYC took on added significance in the sanctions world in 2023. No, not Know Your Customer, though that certainly remains important. Know Your Cargo became a new mantra for sanctions practitioners and there is every indication it will continue to be... WHITEPAPER Top-of-Mind Compliance Issues for Financial Institutions in 2024 Discover crucial insights on compliance issues for financial institutions in 2024. From AI to ESG, navigate the evolving landscape with our comprehensive guide. PODCAST Risky Women Podcast | Complexity of the Compliance Landscape Jenny Wong, a managing director at Protiviti, engages in a conversation with Debra Au, a managing director and head of legal, compliance and secretariat, Hong Kong and China, at DBS Bank Hong Kong.Watch the video podcast as Jenny and Debra delve into... Button Button