Solution introduction
Compliance monitoring is a key tool for understanding where the risks are within your business. It can help you pinpoint weaknesses in controls and provide comfort that your firm is meeting its regulatory obligations.
We regularly help clients with compliance monitoring activities such as:
- Reviewing your existing compliance framework to ensure its robust, up to date and relevant to your business
- Helping you build an effective monitoring plan from scratch
- Providing advice on the areas we think you should be focused on
- Undertaking both on-site and/or desk-based testing to provide you with independent challenge and assurance.
Compliance monitoring toolkit
We’ve developed a tool-kit to help firms with both the planning and implementation of their compliance monitoring. Most firms ask us to do the monitoring for them – for independent assurance whilst others prefer to conduct their own monitoring using our toolkit, but with advice and support from us instead.
We’ve built a Toolkit that covers all the rules in the FCA handbook relevant to our clients. For each rule we have suggested a methodology for a high level test and, where appropriate, a compliance ‘deep dive’ test. We can then work with you to develop a bespoke plan which is relevant and proportionate for your business and scope of activity.
