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Regulatory Compliance Controls

Regulation takes on many forms including SOX, ICS, Solvency 2, Basel 2, FATCA, FCPA, FINMA requests, Bribery Act 2010 and the Sunshine Act. The introduction of enhanced regulation coupled with the increased enforcement of legislation such as Anti-Trust & Competition law and the Data Protection Act has resulted in high profile breaches and significant penalties for across sectors.

This has propelled Regulatory Compliance to the top of Board agendas across all industries, not just those such as financial services and pharmaceuticals which have historically had more mature compliance programmes.

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Our Regulatory Compliance team supports clients in understanding how they can assess, improve and consolidate their Compliance functions taking into account the Legal, Regulatory and Ethical environments in which they operate in.

 

Our methodology comprises an overarching framework underpinned by topic sets which leverage subject matter expertise from across ERS to deliver tangible benefits to our clients.

 

Our holistic approach is focused on the nine fundamental components which collectively deliver a cohesive and efficient compliance programme with embedded compliance responsibilities throughout the organisation. These components vary in their complexity and depth to reflect each organisation’s requirements and structure; however they remain integral to an effective compliance framework. Our approach, underpinned by our subject matter expertise in a core set of compliance topics, affords our clients the necessary flexibility through its application to both compliance organisations and compliance programmes.

 

We have extensive experience of developing effective compliance programmes and are extremely well placed to support organisations in developing an effective and fit-for-purpose solution to manage compliance risks. 

  • Introduction of new legislation and increased enhancement of existing legislation.
  • Increased cross border co-operation between regulators.
  • Key focus on enforcement given the economic climate.
  • Global footprint and exposure to diverse regulatory environments.
  • Directors and non-executives are concerned with their own reputation risk & personal liability.
  • Increased external stakeholder interest and scrutiny.

Issue

  • Assess: Deloitte can understand and measure the maturity and effectiveness of the current compliance function/programme against good practice models and develop a roadmap for improvement.
  • Design: Deloitte can perform a risk assessment to understand the existing compliance structure and risk exposures. Additionally we can facilitate the design of a fit-for-purpose solution and an implementation roadmap.
  • Implement: Deloitte can support the implementation of a compliance function/programme including the implementation of monitoring and reporting tools.
  • Monitoring and Assurance: Deloitte can design and deliver ongoing compliance monitoring mechanisms to determine and inform ongoing compliance.

Solution