The Asset and Wealth management arm of an Australia-based financial services firm wanted to implement a compliance management transformation to uplift its entity obligation framework
Challenges
Complex regulatory landscape with hundreds of disclosures distributed across business units.
Understanding and adopting regulatory changes required significant overhead.
Approach
Defined process and control architecture with clear alignment to ~1000 regulatory obligations.
Enabled proactive attestation of compliance plan for 12 licensed entities through articulation and control linkage in the risk and controls system.
Impact
Increased understanding of regulatory obligations with ease of adoption for future regulatory changes.
Higher compliance attestation rates.
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