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Changing the way we think about compliance

Compliance Managed Services

The risk and regulatory landscape is becoming more complex, challenging organizations to rethink their compliance strategy and operations. Canadian businesses face mounting regulatory pressures, a scarcity of skilled talent and rising costs. These challenges often lead to fragmented and reactive approaches to compliance. This further limits organizations’ ability to proactively monitor compliance, adapt to regulatory changes and mitigate risks effectively.

Adopting new digital capabilities, combined with leading-edge skills, helps organizations navigate this evolving risk and regulatory landscape. As these technology and talent pressures grow, organizations are turning to managed service providers to bring a new approach focused on achieving tangible compliance outcomes and greater operational efficiency. 

 

At PwC Canada, we help streamline and manage your compliance operations, letting you focus on your strategic priorities while retaining decision-making authority. This lets you align your compliance efforts with your broader business goals while managing financial and reputational risks. Through automation, process standardization and access to specialists, we work with you to uncover the cost efficiencies and regulatory insights you need to gain a competitive edge.

Comprehensive one-stop compliance solution

Our approach to managed services goes beyond traditional outsourcing arrangements. Our team of compliance specialists takes an integrated approach, using our proprietary technology powered by artificial intelligence, to foster a culture of proactive compliance.

PwC Canada’s compliance managed services are:

Human-led and tech-powered

Our industry-aligned compliance specialists apply advanced technologies to simplify compliance processes and deliver sustained outcomes.

Scalable

We deploy our teams at speed when you need them most to accelerate time-to-value.

Flexible

Our services are customized to meet your specific needs. You choose which parts of your compliance program you want to enhance with our support.

Performance-driven

We prioritize quality, efficiency and continuous improvement to deliver lasting value.

How we can help

Compliance program maturity assessment and framework development

An effective compliance management framework builds a strong foundation for a robust compliance monitoring and reporting environment. It offers a flexible approach to identifying, assessing and complying with applicable regulatory obligations, including regulatory changes. 

Our compliance professionals help you: 

  • conduct a compliance function maturity assessment against leading practices and develop a high-level future state design roadmap to achieve the desired maturity 

  • develop a comprehensive compliance management framework in accordance with ISO 37301:2021 guidelines, our leading practices and industry insights

  • develop a compliance policy and manual  

Regulatory obligations assessment and mapping

We can assist you with identifying relevant laws and regulations and mapping regulatory obligations to your business processes, policies and controls. This helps your organization maintain a robust compliance framework and remain compliant with applicable regulatory requirements. We use our proprietary tools and methodologies to help you:

  • determine your regulatory inventory based on your business activities, operational jurisdictions, products type and legal entity structure

  • build a comprehensive compliance register that includes regulatory obligations and risks

  • map obligations and risks to business processes, policies and controls

Horizon scan and regulatory change management

Incorporating ongoing horizon scanning into your regulatory change management strategy helps identify potential compliance concerns before they become significant problems. Tracking and monitoring regulatory changes across multiple jurisdictions requires a significant investment of time and resources. We can assist in streamlining these efforts through automated horizon scanning and regulatory change management processes to help you:

  • track and monitor emerging regulatory changes in near-real-time using PwC’s proprietary regulatory tracking tool, which directly incorporates updates from authoritative sources

  • design and deploy a bespoke regulatory change impact assessment process and in-built workflows using our regulatory tracking tool to prioritize, assess and implement regulatory changes

  • manage your regulatory change management efforts by acting as an extension of your compliance office 

  • access a global helpdesk and navigate regulatory risk and complexity

Compliance testing and remediation

Compliance testing and remediation helps identify and address deficiencies in your compliance processes and controls, strengthening compliance with regulatory requirements. We help you quickly close your capability gaps at scale, as needed, by:

  • conducting risk-based compliance testing and defining remediation plans

  • facilitating and tracking the remediation of identified compliance gaps 

  • monitoring progress and report issues 

  • assessing the quality of compliance testing activities against defined standards

Compliance monitoring and reporting

Regularly monitoring compliance helps verify that your organization is meeting relevant regulatory requirements and allows you to proactively manage compliance risks. We draw on our deep experience and powerful technologies to help you:

  • manage your compliance monitoring program, including audit and compliance reviews

  • automate data collection and compilation processes to streamline regulatory reporting efforts 

  • conduct stress testing to assess the adequacy and quality of your reporting

  • publish dashboards and compliance status reports for senior management 

  • develop report submission packages for management review and approval

Technology enablement and automation

Technology- and data-powered compliance processes help you efficiently respond to increasing regulatory complexity and accountability demands with confidence. Our team helps you: 

  • build a central repository of your regulatory inventory and create a digital compliance checklist

  • automate compliance task tracking, compliance monitoring and reporting 

  • automate regulatory tracking to monitor emerging regulatory changes globally in near-real-time 

  • automate regulatory change management process workflow

Meet PwC’s Compliance Insights: A cutting-edge AI-powered solution for compliance excellence

Compliance Insights is a scalable and customizable cloud-based platform that automates regulatory compliance management and monitoring. It maintains a real-time library of regulatory obligations across more than 150 global jurisdictions for both financial and non-financial industry sectors, helping you stay current with the latest regulations. By streamlining compliance processes through automated workflows and real-time compliance dashboards and reports, Compliance Insights improves operational efficiency and reduces the likelihood of non-compliance and associated penalties. The platform simplifies compliance management, helping you track your compliance status and generate the necessary documentation for audits and regulatory submissions.

How Compliance Insights works

The tool acts as a central repository for laws, compliances, statutory forms, licenses and evidence, making it easier to manage and access compliance information.

It classifies obligations based on impact, likelihood and local enforcement trends, helping prioritize compliance tasks.

Clear assignment of compliance roles and responsibilities, along with defined escalation levels, promotes accountability and facilitates efficient issue resolution.

Customizable alerts and reminders inform users of compliance due dates.

The platform provides customizable dashboards and compliance reports, offering real-time insights into your organization’s compliance status and exceptions.

Comprehensive logs and records support compliance audits and reviews.

The tool supports compliance management on the go with a mobile app.

The tool automates regulatory change tracking across multiple jurisdictions and sends customizable notifications to users about regulatory changes in near-real-time.

Stay ahead in the ever-evolving regulatory landscape with Compliance Insights, your AI -powered compliance solution.

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We manage. You accelerate. We all have a role to play to mitigate financial crimes.

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Contact us

Karina Forcillo

Karina Forcillo

Partner, Risk Services, Non-Financial Services Regulatory Compliance, PwC Canada

Tel: +1 514 929-3703

Email
Nimesh Patel

Nimesh Patel

Partner, Risk Services, Financial Services Regulatory Compliance, PwC Canada

Tel: +1 647 286 1972

Email
Ajay Sharma

Ajay Sharma

Director, Risk Services, National Market Lead for Regulatory Compliance Services, PwC Canada

Email
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