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Regulatory Risk Services
Organisations need critical help in translating changing regulatory landscapes into practical actions, while simultaneously finding more efficient ways to operate and to derive value from regulatory related activity.
Deloitte helps clients become more proactive in their regulatory functions and unlock value. Our regulatory compliance solutions offer a comprehensive approach to helping clients strengthen their reputations while enhancing business performance and improving customer service. Deloitte provides advice and delivers innovative regulatory requirements management solutions that help our clients deliver their strategy.
- How Deloitte can help
- The Deloitte difference
- Our innovative technology solutions
- Related publications
Key challenges include:
- Regulatory complexity: Clients are facing increased regulatory examination, inspections, enforcement actions and penalties. Furthermore, they have to manage new regulatory requirements and oversight from numerous regulators, while complying with multiple jurisdictions with complex and sometimes conflicting laws/regulations.
- High compliance operating costs: Clients often face high costs of compliance, find it difficult to attract and retain the right talent, and have a fragmented approach to regulatory and compliance change management. Compliance is often bolted on rather than integrated into business processes, with limited use of emerging technologies.
- Limited line of sight: Organisations often have a lack of integrated systems, making aggregation and reporting on compliance risk complex. Boards of organisations often have limited line of sight into compliance management on the ground.
How Deloitte can help
The Risk Advisory Regulatory Risk practice helps clients to assess, design, deploy and monitor global regulatory compliance across their businesses in order to address these challenges. The Regulatory Risk areas we cover include but are not limited to Anti-Bribery and Anti-Corruption, Counter Fraud, Export Controls & Sanctions, Health, Safety & Environment, Life Sciences & Healthcare, Privacy and Sustainability.
Our team includes regulatory experts and industry specialists, who have significant experience in helping our clients manage the most complex global regulatory requirements. The team specialises in modernising compliance functions and programmes across all sectors.
Our service offering capabilities include but are not limited to the following:
- Regulatory Risks Assessment: Assess an organisation’s business operations to determine their compliance risk exposure. The assessment serves as a guide for the prioritisation of resources and risk mitigation efforts.
- Culture Assessment: Provide a diagnosis of an organisation’s culture to understand strengths and challenges. This allows clients to prioritise areas to better support the achievement of strategic business goals.
- Compliance Programme Maturity Assessment: Assess the design of a client’s compliance framework and capabilities compared to industry best practice and Deloitte’s regulatory compliance framework and maturity model. This can also include an assessment of compliance resources and capabilities across an organisation.
- Compliance Modernisation: Determine the desired modernised state of a compliance programme. Compliance areas are prioritised based on the assessment results, level of risk and expected organisational change.
- Compliance Governance Frameworks: Use Deloitte’s bespoke compliance framework to design a governance framework that enables visibility, oversight, leadership and resource prioritisation, and allows management to make critical decisions to safeguard against failure.
- Policies & Controls: Build, design and embed policies and controls to meet regulatory requirements.
- Compliance Management Automation: Use Deloitte’s tools and enablers to assess the effectiveness of existing risk management frameworks and help develop solutions to improve the value organisations derive from their investment in risk management.
- Regulatory Training: Design and implement tailored multi-jurisdictional regulatory training. Our regulatory experts can deliver this training in person and/or develop online training courses.
- Regulatory Advisory: Provide advisory guidance to clients by combining specialist legal and regulatory knowledge with a deep understanding of how regulation and regulatory policy work.
- Pre and Post-Merger/Acquisition Due-diligence and Integration: Conduct regulatory compliance pre- and post-merger/acquisition due diligence, provide integration support, draft voluntary disclosures and provide remediation activities.
- Compliance Audits: Conduct compliance audits by combining traditional controls testing with event and transaction compliance testing. In addition, conduct interviews with third parties, leverage data analytics techniques, and conduct open-source research to provide a greater depth of assurance over compliance risks than typical internal audit reviews.
- Investigations: Develop regulatory investigation plans, conduct regulatory investigations, provide investigation reports and draft voluntary disclosures.
- Continuous Monitoring Services: Conduct ongoing monitoring of all aspects of compliance for organisations to ensure compliance objectives are achieved and compliance issues are identified in a timely manner.
The Deloitte difference
- Access to thought leadership and compliance network: We regularly produce thought leadership on hot topics - including the future of compliance - and hold regular events with our wide network of Compliance Officers.
- Dedicated Regulatory and Risk expertise: We have dedicated regulatory experts who deliver our compliance transformation services, enabling us to effectively operationalise compliance programmes.
- Extensive experience of leading compliance transformation programmes and projects: We have extensive experience in the delivery of global regulatory strategic projects for organisations across all sectors.
- Tools and accelerators to help embed lean compliance: Deloitte has developed proprietary world-class tools and accelerators to help embed compliance effectively into organisations. For example, our Integrated Compliance Platform is the cloud-based technology solution underpinning our Compliance Transformation offering.
- Continuous monitoring of regulatory changes: Our Centre for Corporate Regulatory Insight proactively identifies emerging areas of regulatory change, keeps up to date with key regulatory developments, and develops approaches to manage forthcoming regulation.
Our innovative technology solutions
Governance, Risk, Assurance and Compliance (GRAC) Platform
Deloitte have developed a Governance, Risk, Assurance and Compliance (GRAC) software to provide our clients with a flexible platform to manage risk, processes and controls.
- The platform’s strength is in its flexibility, with different modules able to be slotted together to make bespoke solutions, as well as off the shelf point solutions.
- The variety of potential combinations means that it can provide a rapidly deployed, competitively priced cloud based solution for organisations looking to improve their management of processes, risks and controls.
- Once deployed, our solution provides an easy to access tool that can be utilised across entire organisations, simplifying and automating processes.
One of the capabilities built on the GRAC platform is ITC Pulse. Deloitte has developed an automated trade controls risk management solution, ITC Pulse, to help our clients quickly deploy global trade compliance risk assessments and manage corrective actions.
ITC Pulse delivers risk assessments through four key features:
- Smart Questions
- Configurable Reporting
- Corrective Actions Management
ITC Pulse helps detect and diagnose risk whilst reducing demands on internal trade compliance teams.
If you are interested in learning more about ITC Pulse, please contact us to arrange a demonstration.