In this ever-changing regulatory environment, it is crucial to stay up to date on the latest GRCR requirements. Is falling behind in the GRCR world worth the price of noncompliance at your firm? As a Compliance Officer, Risk Manager or General Counsel (all collectively, the “Risk Mitigation Team”), one can often feel overwhelmed at the responsibility and accountability that goes with the job. The Risk Mitigation Team is ultimately responsible for designing and implementing GRCR programs that ensure their firms following industry rules and regulations. This can often be a demeaning and demanding responsibility. Risk Mitigation Teams are generally not congratulated for achievements, but they get fingered when something goes wrong. It can often be a no-win job. If Risk Mitigation Teams don’t report violations, regulators suspect they’re ignoring infractions. Report too many and they suspect they’re incompetent.
Being part of the Risk Mitigation Team can be overwhelming and mistakes costly. We provide clients an appraisal of what the current regulatory requirements are since they are constantly changing as well as what the current areas of focus are for the regulatory bodies. We will make recommendations as to what clients should improved and provide risk analysis as well as assurance that the existing processes are effective, implemented correctly, and are functioning correctly. The end goal is reduced exposure to industry and regulatory risks.