Maestro-Solutions for

Mutual Financials

CONTACT US

Mutuals serve a wider social purpose - proving compliance with their prinicples is essential

Requirements

Mutual (Credit-Unions, Co-ops, Building Societies, etc.) have to comply with financial regulations while providing their members with a value for money, high quality service.

Examples of where the GRC-Maestro platform can help Mutuals achieve and prove compliance at a low cost include:

  • Fit & Proper – manage the governance of fit & Proper (employees in-scope, record keeping, training requirements, record keeping, etc.)
  • Anti-money Laundering (AML) – reporting KPIs for senior management, assessing AML requirements/risks, resourcing and monitoring results.
  • Cyber-security – monitor all systems used by the firm and their current cyber-security preparedness, flag risks/weaknesses for resolution and provide senior management with cyber-security assurance KPIs
  • Outsourced services – monitor and manage outsourced SLAs for all outsourced services, identify shortfalls and remedial action

GRC-Maestro gives Mutuals, and their Directors, the ability to control and manage both existing and proposed regulatory requirements by automating manual checks and recordkeeping.

Challenges

Despite their focus on delivering social benefits, Mutuals are not immune from the wider challenges of financial services:

  • Cost pressures – Mutuals are not “for profit”, but they can’t survive if they are loss making, so every dollar counts. GRC-Maestro is a low-cost alternative to paying for high end and expensive systems.
  • Regulatory requirements – increased regulation is impacting the mutual sector and they need to upgrade their internal processes, procedures and controls to remain fully compliant.
  • Flexibility – as new regulations are implemented it is necessary for each mutual to have systems in place that can be easily adapted to the new requirements without expensive upgrades or consultants.

GRC-Maestro addresses the governance, risk and compliance challenges of Mutuals by supporting current and future requirements on a single, low cost, platform.

Jurisdictions

Maestro-Solutions for different jurisdictions are quick and easy to build or customise to meet specific requirements: Maestro-Solutions

There are a range of build Maestro-Solutions for different jurisdictions: