Regulatory Response and Remediation

Sustainable Solutions for Regulatory Response and Remediation

Regulatory requirements are increasingly complex. Financial institutions need to confirm that controls and processes they implemented are not only appropriate for the risks they control but flexible to adapt to changes in risk. In addition, these controls should be sustainable, growing with institutions in size and complexity.

Enforcement actions, both public and private, can put considerable strain on an organization that is looking to grow as it diverts time, energy, and resources to remediation activities instead of building the business.

Remediation activities can be extremely difficult, as multiple significant work streams typically are running concurrently and must be in concert with one another. All parties must work cohesively to solve compliance gaps, conduct look-backs and forensic reviews, and deploy technology that will automate manual and antiquated controls.

How Crowe Horwath LLP Can Help

Crowe has extensive experience assisting organizations with responding to regulatory criticism and developing compliance programs that not only comply but are sustainable for the institutions.

Crowe compliance specialists bring specific expertise and credibility to a wide variety of specialized regulatory response and remediation situations including:

Technology Enhances Both Efficiency and Credibility

Crowe has assisted numerous organizations with effectively using technology solutions to enhance compliance programs and comply with the tenets of an enforcement action in a sustainable fashion. In addition to working with many of the leading software providers, Crowe has developed proprietary solutions to help solve issues that are typically time-intensive and manual, such as:

  • Crowe Activity Review System® (CARS®) solution – sustainable alert and investigations management
  • Crowe® Dynamic Customer Insight – know-your-customer and enhanced due diligence
  • Customer Due Diligence (CDD) Calibrator – versatile tool that can help banks perform the necessary calibration of their anti-money-laundering (AML) customer due diligence (CDD) risk scoring models with greater efficiency while also improving the overall effectiveness of their compliance and risk management functions
  • Crowe Model Risk Manager – configurable, scalable solution built specifically to help institutions more effectively manage model risk and respond to examiner expectations
  • Crowe Caliber for AML Optimization – addresses expectations for AML model risk management and optimization of AML systems based on coupling an established method with enabling technology