The personal accountability of financial services executives has increased exponentially since the financial crisis – exemplified by high-profile resignations as a result of regulatory failings in areas such as LIBOR, anti-money laundering and capital adequacy. This focus on greater personal accountability is set to continue, with criminal charges and personal financial penalties for regulatory failures being openly discussed by politicians and policy makers.
How can executives personally make sure that their people are meeting regulatory rules, and protect themselves, their firms, and ultimately their customers from the risk of non-compliance?
We bring together the right team of experts with experience in helping executives worldwide to identify the areas of greatest risk within their organisations. Our skilled person reviews assess compliance with regulatory rules and provide executives with independent assurance and comprehensive remediation plans where required.
PA experts are entirely independent and free of auditing or vendor conflicts, and can conduct reviews across a wide range of areas to ensure that, for example:
high-growth or new business lines are protected by the appropriate level of control and governance
conduct related issues, ranging from sales complaints processes to advisory and product related issues, are appropriately addressed
IT and data are robust in mission-critical business areas.
We work across the full spectrum of banks, insurers, investment firms, exchanges and clearing houses.
If you would like to discuss how we can help protect you and your organisation, please contact us.
As from 1 April 2013, PA Consulting Group was appointed to the FCA and PRA Skilled Person Panel in the following areas: Governance Controls and Risk Management Frameworks, Conduct of Business, Data and IT Infrastructure & Prudential - Deposit takers and Recognised Clearing Houses. Please click the FCA and PRA websites to see the Panel in full. Please contact us for more details.