Solutions

Transform the way you manage financial crime regulation

Robust, proven and digitised financial crime data regulatory management with Deloitte PROACT

Financial institutions need to demonstrate compliance with numerous, frequently-changing, complex and interconnected financial crime regulations and for their senior management to effectively manage the risks to which the institutions are exposed.

The challenge to keep up and keep compliant

There has been notable growth in financial crime compliance requirements, and a strengthening and extension of the remit and powers of supervisory and enforcement bodies. As a result, risks of reputational impact and regulatory fines have risen.

In response, there is an increasing desire for senior management with personal responsibilities to be better informed, in a more timely manner, of the state of compliance of their organisation, and how non-compliance is being managed and addressed.

However, many of the traditional approaches and tools designed to provide this visibility lack the dynamic capabilities and functionalities required.

Introducing Deloitte PROACT

PROACT is a tool to help organisations effectively understand and manage granular requirements of relevant financial crime law, regulation, guidance, policies and standards.

Improve your financial crime risk framework with PROACT

Gap identification and reporting

Online workflow to self-assess current state of compliance against policy requirements and required actions to ensure closure of identified gaps.

Benefits:

  • Easy-to-use interface for business units to document gaps and request deviations and waivers
  • Promotes accountability through self-attestation of requirements compliance by business units
  • Real-time visibility for policy and standards owners regarding self-assessment completion and compliance
  • Through reporting, identify patterns or themes, including specific business units or requirements where compliance is proving particularly challenging
  • Supports Compliance and Internal Audit review planning

Deviation and waivers management

Simple online workflow for business users to request, and policy owners to review and approve deviations and waivers to requirements.

Benefits:

  • Simple online workflow to request and approve deviations and waivers
  • Easy-to-use interface for business units to document remedial actions and track progress
  • Full audit trail and evidence capture
  • Enables visibility of the extent and current state of the financial crime compliance and control framework
  • Supports controls testing

Requirements mapping

Clear, dynamic and interactive linkage between key components in the compliance and control framework, from law, regulations and guidance to policies and standards.

Benefits:

  • Supports development of effective policies and standards
  • Gives confidence that policies meet all relevant requirements as derived from applicable law, regulation and guidance
  • Gives confidence that standards meet all requirements as stated in the policies of the institution
  • Facilitates the understanding of requirement changes through requirements linkage
  • Enables identification and reporting of gaps

Work with a market leader

  • Our service incorporates the latest thinking in regulatory management and leverages new approaches and technologies to help you manage your regulatory obligations.
  • Our services can be deployed in a number of ways, leveraging cloud infrastructure to accelerate delivery. 
  • Our teams have market leading expertise in helping similar clients navigate the financial crime regulatory environment.
  • PROACT is a tried and tested solution that can support and deliver on these requirements. 
  • We work closely with you to demonstrate how your requirements can be met through the capabilities and functionalities of our tool.

Find out more

To discover more about PROACT for financial crime or book a demonstration, please complete the form and our team will be in touch.

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Key contacts

Katie Jackson

Katie Jackson

Partner

Katie is a Partner in Deloitte Forensic. She has over 10 years’ experience working in the Financial Services sector, principally specialising in Financial Crime. She has a particular focus on anti-mon... More

Stephen Nicholls

Stephen Nicholls

Director

Stephen is an experienced Director in our financial crime practice, with a successful record in various operational and strategic roles. He is an accredited PRINCE2 (2009) Practitioner and an associat... More