Compliance Risk Management Framework: Crucial for Ireland-Based Financial Services Organisations
In today’s heavily regulated environment, the corporate governance structure of a financial services organization in Ireland is of paramount importance. A transparent and accountable governance framework, complete with clear reporting lines, is essential to ensure compliance with an array of regulations, laws, and codes.
The Challenges of Compliance Risk Management
Recent regulatory changes have left many Irish-based financial services firms facing significant challenges in demonstrating compliance with a vast array of obligations. These include avoiding reputational damage by effectively managing regulatory and compliance risk, ensuring that non-compliance does not result in financial or reputational harm.
Our Expert Services
To mitigate these risks, our team of experts can provide an objective and independent assessment of your current governance arrangements and assist in creating a comprehensive Governance, Risk, and Compliance (GRC) framework. Our services include:
Developing a Comprehensive Framework
- Developing a Risk Appetite Statement and measurement & monitoring framework to ensure effective risk management
- Designing compliance monitoring plans and obligation assessment templates to streamline the compliance process
- Advising on the most suitable corporate governance structure for your organization
Reviewing Compliance and Risk Governance Frameworks
- Reviewing compliance and risk governance frameworks to ensure effectiveness, including assessments of:
- Fitness and probity regimes
- Anti-money laundering requirements
- Consumer protection codes
- Data protection regulations
Expert Guidance on Key Regulatory Initiatives
Our experts can also provide guidance on key regulatory initiatives such as:
- Capital Requirements Directive
- Solvency II
- Markets in Financial Instruments Directive (MiFID)
- Qualifying Investor Alternative Investor Fund (QIAIF) plans
- European Markets Infrastructure Regulation (EMIR)
Implementing a Robust Compliance Risk Management Framework
By implementing a robust compliance risk management framework, your organization can ensure ongoing compliance with regulatory requirements and protect its reputation. Our team of experts is committed to helping you navigate the complex landscape of financial regulations and ensuring that your organization remains compliant and effective in today’s rapidly changing environment.