Minimise the risk of managing all your financial services in-house, with a trusted outsourced partner and regulatory compliance consulting, including anti-money laundering.

De-risk your financial services organisation

Financial services organisations face significant challenges as they strive to operate in an increasingly complex environment rife with risk and frequent regulation changes.

The cost to manage the full gamut of business risks can quickly become unsustainable – making it preferable to partner with an experienced firm that can take on some of the more taxing tasks.

Here are 6 essential activities we can help you with:

1. Internal audits: Outsource or co-source your internal audit function to experts who understand the unique challenges you face.  

2. Non-financial risk, culture and wellbeing consulting: Have an independent third-party assist with framework development and behaviour management so your business can operate at peak performance.  

3. Regulatory compliance: Meet ASIC, AUSTRAC and APRA expectations for a centralised compliance management system that includes independent testing and helps you achieve long-term compliance. 

KEY CONTACT

Jean-Marc Imbert         
National Head of Risk Advisory

T: +61 3 9286 8186         
E: [email protected]

Jeremy Elman         
Partner

T: +61 2 8226 4500         
E: [email protected]

How can we help you?

 

4. Governance risk management and compliance: Streamline your compliance and risk management processes with a holistic review that improves transparency and accountability.

5. Fraud control: Gain independent assurance that your organisation’s fraud and corruption control frameworks are relevant, current and effective in minimising reputation harm and losses.

6. SOX, I/ASAE 3402 and GS007: Demonstrate your commitment to compliance and excellence through independent review of your, or an outsourced provider’s, internal controls against industry best practice.     
 

For organisations in highly regulated industries, such as financial services, companies must do more than simply comply with regulations. They need to forecast and prepare for emerging regulations that will undoubtedly affect business operations and systems.

With royal commissions and recent breaches to anti-money laundering laws drawing further scrutiny to the sector, it has never been more important to take proactive steps to ensure ongoing compliance.

Boards and management must also react quickly to threats and anomalies in order to protect against major reputational damage and decreases in investor value.

This is why it can be invaluable to partner with an experienced AML and CTF consultant who can:

  • Evaluate your compliance program and address deficiencies to enhance controls
  • Audit your compliance management system to improve governance, monitoring, training and testing strategies
  • Maintain ongoing assessments as regulations change
  • Conduct independent testing of functional areas and Bank Secrecy Act (BSA) and AML software and systems
  • Evaluate your fair lending compliance program, risk factors and controls
  • Use data analytics to identify disparities in credit decision outcomes, pricing and geographic distribution
  • Respond to enforcement actions and transaction lookbacks

FINANCIAL SERVICES

  • Internal audits
  • Non-financial risk assessments and frameworks
  • Regulatory compliance
  • Integrated governance, risk and compliance practices
  • Fraud control
  • SOX, I/ASAE 3402 and GS007 guidance

ANTI-MONEY LAUNDERING

  • Evaluation and improvements
  • Compliance management system audits and upgrades
  • Ongoing regulatory compliance assessments
  • Independent testing
  • Evaluation of fair lending compliance program, risk factors and controls
  • Data analytics to identify disparities
  • Response to enforcement actions and transaction lookbacks

RSM has been partnering with financial services institutions for nearly 100 years, including:

  • banks
  • superannuation organisations
  • insurance companies
  • finance and leasing companies

We stay up to date with all the latest regulatory changes affecting the financial services sector, and take the time to get to know your business so we can provide the most relevant and practical advice.

Our AML and regulatory compliance consulting practice includes former regulators and industry executives who understand the challenges and dynamic landscape you operate in.

Let us take on the more complex and sensitive activities so you can maintain optimal staffing levels while addressing your most pressing challenges.

Articles and Insights

CONTACT US

Get in touch with our Risk Advisory team

Taking steps to manage risk today ensures you protect your business and its operations in the future.