The only thing constant about financial sector laws and regulations is change!

Challenge

Laws and regulations are constantly being introduced or amended globally. It is a major challenge for regulated Financial Services firms to stay compliant in all jurisdictions in which they operate.

Failure to diligently implement new laws and regulations is a major root cause of regulatory failures.

Partial compliance can be as bad as non-compliance!

Maestro-Solution

Every regulated Financial Services firm needs to have a comprehensive Regulatory Change Management protocol to ensure new laws and regulations are identified, assessed, implemented and monitored.

GRC-Maestro supports your Regulatory Change Management in a Maestro Solution with:

Impact Assessment:

• IT Systems
• Data Requirements
• Manual Processes
• Output Reports
• Operational Risk

Implementation

Oversee the implementation of changes required to ensure full compliance with the new law/regulation. 

Testing and Sign-Off

All areas impacted by the new law/regulation have to be thoroughly tested prior to the "go live", including: IT systems, data, manual processes and reports.
The implementation manager must sign-off that they are satisfied, the changes have been fully implemented and the firm is compliant.

Monitoring

After the new law/regulation is implemented the monitoring needs to be built into the periodic compliance monitoring program.
Where relevant, validation checks should be built into IT systems to ensure any systematic failures are flagged immediately.

GRC-Maestro

Prove Compliance – Evidence your Governance, Risk & Compliance (GRC)

Automate GRC – Run manual checks and processes automatically

Low Cost – Quick and easy to use + low pricing