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Our Compliance and Regulatory Consulting (CRC) practice helps clients ensure adherence to ever-evolving regulations and global business standards to prepare and protect client organizations against threats, foster credibility and reliability, and promote stakeholder confidence.
Global business and organizational standards like those set under the EU’s General Data Protection Regulation (GDPR) are critically important for several reasons:
Adhering to global standards is essential for legal compliance. Failure to comply with regulations like GDPR can result in substantial fines, legal actions, and reputational damage. Businesses that operate internationally must ensure they meet these standards to avoid penalties.
This involves identifying areas where processes can be streamlined, simplified, or made more efficient. Our consultants use various methodologies such as Lean Six Sigma and Kaizen to reduce waste, eliminate bottlenecks, and improve overall process flow.
Businesses that proactively comply with global standards can differentiate themselves from competitors. Demonstrating compliance can be a unique selling point, attracting customers who prioritize common regulatory concerns such as security and privacy.
For companies aspiring to grow worldwide, compliance with international standards like GDPR is essential for smooth global operations. It ensures they can operate seamlessly across borders, accessing various markets without legal hindrances.
Adherence to global standards helps identify and mitigate risks associated with any given industry or business model.
Global standards create a harmonized framework for globally recognized competencies and functional activities, making it easier for businesses to implement consistent policies and procedures across different regions. This consistency simplifies compliance efforts and reduces complexity.
In summary, global business and organizational standards like GDPR are vital for ensuring data protection, regulatory compliance, consumer trust, competitive advantage, and efficient global operations. They help businesses manage risks, maintain consistency, empower customers, and uphold ethical standards, which are crucial in today’s interconnected and data-driven world. Some of our common services are described below.
Data Privacy and Protection
We provide compliance assistance as a step towards adherence with the Data Protection Act (DPA) of 2012, EU’s GDPR, ISO 27001, and its supplement, ISO 27701, to reach an optimized state of privacy maturity by conducting the required privacy impact assessment and compliance check dry run; developing a data privacy management program; designing and creating a privacy compliance dashboard; facilitating privacy training and awareness; providing data privacy and protection compliance audits, among others.
Sarbanes Oxley Compliance
Organizations aim to maintain the effectiveness of internal controls and comply with disclosure requirements. We offer a comprehensive suite of SOX compliance services that can be customized to address your specific concerns, including risk control mapping, gap analysis, internal controls over financial reporting reviews, IT controls testing, and COSO mapping.
Risk Modelling and Validation
Independent validation ensures that risk models are assessed objectively, without internal biases, and provides an additional layer of quality control beyond internal model development. Our team of validators offers actionable insights and recommendations for model improvement, enhancing your organization’s commitment to accuracy and accountability. Our specialized services include risk modeling and a comprehensive validation process covering all aspects of model risk, such as market risk (e.g., IRRBB, VAR, EL), liquidity risk (e.g., Maximum Cash Outflow), credit risk (e.g., Credit Scorecards, ECL, EAD), among others.
Bank Regulatory Compliance Services, including Anti-Money Laundering
Stay ahead of regulatory requirements and industry standards with our expert compliance solutions. We provide assessments and assistance to ensure your organization complies with key regulations (i.e., AMLC, BSP, SEC, etc.). Our specialized services include conducting Institutional Risk Assessment, review and customization of the Money Laundering and Terrorist Financing Prevention Program, audit of AML/CFT Compliance, conducting Independent Compliance Testing for financial services, and assistance with BSP Regulatory Reports preparation.
Our Specialists
