In the post global financial crisis era, regulators are working on revolutionary regulatory reforms that will increase expectations on and responsibilities of financial institutions in managing their compliance risk. Regulatory compliance is one of the governance duties held by the board and senior management. With good governance and culture, sound compliance infrastructure and dynamic framework, ability to stay abreast of all cross-border and local regulatory developments, as well as competent compliance personnel, financial institutions will be able to ride the waves of change, emerge stronger, and operate businesses with integrity.
How can we help At EY, we have a team of experienced professionals providing a range of services to assist financial institutions in fulfilling their regulatory compliance obligations. We belong to a global network that gives us ready access to overseas regulatory professionals and are able to provide you with one stop advisory services. Our regulatory services include:
Advise and assist in developing compliance framework, structure, policies and procedures, and monitoring program
Assist and facilitate firm-wide compliance risk prioritization exercise through a risk-based approach
Evaluate potential impact of new regulations to your business
Act as regulatory compliance advisors to you, addressing day to day compliance queries and issues
Conduct operational and compliance review of regulated activities to identify gaps
Assess and review regulatory returns, data mapping, and preparation process to ensure compliance and accuracy in preparation.
Review outsourcing risks and controls
Perform mock interviews and inspections prior to regulatory inspections
Assist and support in dealing with regulatory enforcement actions and remediation exercises
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.