Their approach and organisation simplified a complicated process

Mike King

Grange Services

Firms' Due Diligence

It is increasingly becoming necessary for firms to carry out due diligence on third party firms that may pose a regulatory compliance risk. Compliance Assurance ManagerSM combines subject matter expertise and technology to help you reduce compliance costs and improve data collation, reporting and analytics.

The requirement for third party due diligence affects many different sectors, including Clearing Banks in respect of specific clients; Payment Service Providers and their Agents; and Lenders/Funders in respect of their Brokers.  This is sometimes mandated, for example as set out in the Payment Services Regulations 2017, but often it is required for commercial prudence and risk management. 

We help you overcome two key issues:

  1. Increased compliance costs - the traditional approach involves a costly onsite consultant audit, and in our experience, this results in some firms taking the risk by not undertaking third party due diligence.  
  2. Poor analytics - where firms do undertake due diligence, the data tends to be in individual files and is not easily accessible or reportable across the portfolio.

How Compliance Assurance Manager works:

  • Determines the level of risk posed by each audited firm, enabling you to use a risk adjusted blend of remote and onsite audits more selectively and efficiently;
  • Audits are reviewed by a skilled assessor providing a consistent assessment process;
  • Collates compliance due diligence information, whether the audit is carried out remotely or in person;
  • Using our proprietary web based application it provides interactive and on demand reporting of all data gathered, enabling a range of insights on the portfolio in question providing genuine business intelligence.

Enquire About Compliance Assurance Manager

If you'd like to discuss Compliance Assurance Manager, please provide your contact details using the form below and a member of our team will get in touch. Or alternatively call us on 020 7060 4499.

 

New Broad Street House 35 New Broad Street London EC2M 1NH

Tel: 020 7060 4499 Email: info@compliancy-services.co.uk

Copyright © 2015 Compliancy Services Ltd     Company Registration Number: 04954156

Registered Office: 69 Hermitage Road, Hitchin, Hertfordshire SG5 1DB

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