Compliance Risk Management Leverages regulatory compliance to mitigate risk and enable innovation. There's a better way to manage the burden of regulatory compliance. Imagine if functions were aligned to business objectives, processes were optimised, and procedures were automated and enabled by data and technology. Regulatory requirements would be met with efficiency. Controls become predictive instead of reactive. Employees derive more value from their roles. The business can take comfort that their reputation is protected, allowing for greater focus on growth and innovation.Protiviti helps organisations:Integrate compliance into agile risk management teamsLeverage analytics for forward-looking, predictive controlsApply regulatory compliance expertise and utilise automated workflow tools for more efficient remediation of compliance enforcement actions or issuesDevelop regulatory compliance and performance measures that take into consideration customer needs, business objectives, and regulatory changesTranslate customer and compliance needs into design requirements for new products or servicesEstablish routines for monitoring regulatory compliance performanceDevelop, execute, and integrate a regulatory compliance technology ecosystem that enables efficient and effective compliance activities Integrate compliance into agile risk management teams Our Compliance risk management services Pro System Security FLOD:Compliance Readiness/Process Transformation/Monitoring and Testing We assist First Line of Defense (FLOD) with their overall compliance programme and establish monitoring and testing activities to validate established processes and controls are effective in mitigating risk. Pro Location Globe Second Line of Defense (SLOD): Compliance Risk Assessments, Compliance Testing We assist clients with developing risk assessments, testing requirements or overall methodology. Compliance Risk Assessments and Compliance Testing are critical tools that SLOD can use to monitor compliance effectively and identify gaps. Pro Rightmark Square Third Line of Defense (TLOD): Audit Plan Development/Compliance Audits Protiviti focuses on documenting an Audit strategy to monitor companies’ compliance with applicable regulations and policies and procedures. Audit plans should be developed based upon a client’s level of risk acceptance. Pro Briefcase Compliance Management System (CMS) Reviews/Development Protiviti ensures all pillars of the CMS, board and management oversight, compliance programme, and compliance audit work cohesively to mitigate risk. A CMS is an effective tool for companies to manage risk and foster a culture of compliance. Pro Document Stack Regulatory Change Management Protiviti’s helps clients understand the impact of regulatory change and how to implement the requirements to ensure compliance. Having an effective regulatory change management programme is crucial in an ever-changing regulatory environment. Pro Document Consent Product Lifecycle Reviews Protiviti assists clients by taking a holistic approach, assessing risk from critical areas, including compliance, operations, privacy, legal and marketing when developing new, reviewing existing or retiring current products. Our approach In a dynamic world, Protiviti’s agile risk management framework helps you fully understand the risks to your business and the critical information you need to protect it. A strong regulatory compliance function leads to more than reduced risk of non-compliance and regulatory penalties, but also to improved customer experience, enhanced brand loyalty, and increased value for stakeholders. While compliance is an understood necessity, it can also provide a unique competitive edge.Protiviti’s Compliance Risk Management Services include:Programme Design and ImplementationProgramme Self-AssessmentsMonitoring & TestingRisk AssessmentIssue Resolution and Customer Remediation Third-Party Risk Management Featured insights and client stories CLIENT STORY Global Financial Service Provider Prepares for New Sustainability Reporting Mandates A global financial service provider prepares for new mandates by advancing sustainability reporting efforts, ensuring compliance and ESG integration. PODCAST Risky Women Podcast | Risk Management With Purpose In this episode of Protiviti's Risky Women podcast series, Ghislaine Entwisle, Managing Director of the Australia Technology Consulting and Business Performance Improvement practice, speaks with Gloria Yuen, Head of Regulatory Enablement and Delivery... WHITEPAPER Can we trust culture and conduct to guide decision making in the financial services industry? More than 15 years after the great financial crisis, the financial industry’s culture and conduct remain very much in the headlines. Has nothing changed? A lot has indeed changed, though bad actors still manage to prevail at times. Maintaining good... INSIGHTS PAPER Crypto and the Travel Rule: What’s Going On? Navigate crypto Travel Rule compliance: understanding its impact, the need for flexible solutions, and areas of focus for implementation. WHITEPAPER SIFMA’s Quantum Dawn VII After-Action Report The latest iteration of SIFMA’s biannual cybersecurity exercise focused on the outage of a critical third-party service provider. The simulation and concluding survey found many financial institutions are already experienced with the loss of a... WHITEPAPER Sanctions Risk Assessment: A Key Risk Management Tool Faced with the growing complexity of the geopolitical landscape, governments have been using financial sanctions increasingly as foreign policy tools to respond to developments as wide ranging as regional conflicts and wars, terrorism, and human... Button Button