Financial Services Risk and Regulation

Banking regulatory and compliance services

In today's global marketplace, banking organisations have greatly expanded the scope and complexity of their activities and face an ever changing and increasingly complex regulatory environment.

Furthermore, due to the consumer credit crisis, and increased emphasis on consumer protection, the regulatory agencies, investors, legislators, and the general public are focused on institutions' customer practices and regulatory compliance performance like never before.

Moreover, a compliance failure can result in litigation, financial penalties, regulatory constraints, and reputational damage that can strategically affect an organisation.

Our commitment to client service means that PwC brings the right skills and resources for your specific needs.

Whether your needs relate generally to consumer compliance or are more specific to certain compliance areas – such as FATCA, CRS, AML, etc. – we bring the right people with the right experience. Similarly, from a business perspective, we have specialists with deep industry experience in specific banking areas – such as mortgage lending, credit card, commercial banking, etc. – to ensure that we hit the ground running with minimal start-up time.

Examples of services that we provide to our clients include:

Improving the Effectiveness, and Reducing the Cost, of Compliance Programs
Design and Implementation of Compliance Process
Regulatory Readiness Reviews
Risk and Control Assessments
Internal Audit Compliance Support
Compliance Due Diligence Support
Regulatory Remediation
Compliance Transaction Testing

Improving the Effectiveness, and Reducing the Cost, of Compliance Programs

Compare corporate, AML, and other compliance programs and processes to regulatory requirements and expectations and industry practices, and offer recommendations for improvement
Design enterprise-wide compliance risk management frameworks and develop written compliance program/policy documents consistent with management objectives and regulatory requirements
Develop compliance risk management processes using a proven, integrated approach to regulatory compliance program management with a focus on creating effective, low-cost, and sustainable compliance programs and processes
Rationalise existing compliance activities across multiple entities and businesses to create sustainable and low-cost programs

Design and Implementation of Compliance Process

Advise on the design and implementation of compliance program elements/processes:
- Governance and organisational structures
- Regulatory inventories and change management processes
- Compliance risk assessment processes
- Compliance policies and procedures
- Compliance training programs and processes
- Compliance and AML monitoring and testing programs
- Statistically-based fair lending monitoring systems
- Automated customer due diligence processes
- Board and executive management reporting processes
Leverage technology solutions to enhance the integration and effectiveness, and reduce the costs, of compliance program processes
Operationalise compliance through integration into core business processes

Regulatory Readiness Reviews

Conduct regulatory readiness compliance reviews to assist institutions in their preparation for regulatory examinations/inspections by identifying potential regulatory gaps and providing specific actionable recommendations to address these gaps

Risk and Control Assessments

Evaluate design and operating effectiveness of compliance risk and control processes including those relating to Privacy, AML, Fair Lending, Affiliate Transactions, Consumer Credit and Deposit requirements, and other applicable compliance requirements

Internal Audit Compliance Support

Assist institutions with the design and execution of AML, corporate compliance program, and other compliance-related internal audits

Compliance Due Diligence Support

Perform compliance due diligence reviews to assist institutions with the identification and dimensioning of compliance risks associated with mergers or acquisitions

Regulatory Remediation

Assist with remediating compliance program and performance issues arising from examinations/inspections, including developing remedial action plans and performing historical transaction testing

Compliance Transaction Testing

Perform transaction testing to determine an institution's adherence with applicable safety and soundness and consumer protection laws, regulations, and supervisory guidance