Regulatory & Compliance
The financial services industry faces a complex and ever-changing regulatory environment. Significant investments are necessary for banks to comply with stricter regulations. Financial institutions must be capable of adapting their operating model in the most effective way possible. They must leverage technology to achieve better outcomes at lower costs.
We at Eraneos believe that an effective alignment between the compliance operating model, people and technology can add value and generate long-lasting strategic advantage.
Compliance Operating Model
Financial institutions operate in an increasingly complex compliance environment that demands enhanced transparency over risks, processes and new responsibilities. An essential part of setting up a modern compliance organization involves building a compliance operating model to increase transparency, effectively manage risks and run appropriate controls.
The prerequisite for a future-driven compliance operating model is a taxonomy that describes and classifies critical areas of risk. Such a risk classification ensures that the scope of the compliance operating model effectively considers both global and local regulations.
Our consultants at Eraneos understand the challenges and opportunities of designing and implementing a robust and agile compliance operating model. We help our clients to gain a thorough understanding of market movements, technology trends and regulatory developments. We support our clients with insights on how technology and new ecosystems can be used to enhance and modularize your compliance operating model.
EXPERTISE
- Long-term experience in compliance operating model transformation for financial institutions.
- Proven operating model design methodology with an adaptive, steadily improving transformation approach.
- Sound understanding of regulatory requirements as well as success and risk factors during the implementation.
SERVICE
- We support you in defining and reshaping your future-driven compliance operating model.
- We establish targeted objectives, perform analyses, and create design solutions for your reorganization initiatives.
- We ensure a long-term approach and continuous improvement of a target operating model that will work for you.
PROJECT EXAMPLES
- Eraneos consultants analyzed the customer onboarding process of a global bank, which was highly dependent on local regulatory requirements. The project ensured that good practices are now applied within all divisions across the group.
- Eraneos consultants ensured that a global bank was adhering to new cross-border regulations. The project implemented and tested controls along both established and redesigned processes and monitored policy adherence via dedicated Control Performance Indicators.
Compliance Technology
Compliance professionals must understand how to embrace new and emerging technologies. Future-driven technologies such as big data analysis and artificial intelligence can deliver far-reaching benefits and even transform the compliance function. If properly adopted these technologies can add benefits such as lower risk, improved transparency and more efficient processes.
Heightened legal and regulatory scrutiny and cost pressures are driving financial institutions to explore new technologies to redesign or streamline compliance processes. The goal is to find smarter, more automated, more technology-driven approaches to compliance that work within the complex regulatory environment.
We at Eraneos understand how managed data and technology can streamline compliance processes and help our clients to manage compliance risks better. We help our clients harness advanced technologies without sacrificing transparency or losing sight of cybersecurity and data integrity.
EXPERTISE
- Thorough knowledge of compliance technology and industry developments.
- Expertise in translating and mediating business requirements and technological innovation.
- Adaptive digital transformation approach with a focus on the development of solutions.
- Hands-on experience in relevant technologies like Advanced Analytics, Machine Learning, AI and Intelligent Process Automation/Robotics.
- A well-proven approach to bringing your compliance capabilities to the next level by leveraging data and the right technologies.
SERVICE
- We provide end-to-end service from assessing technology potential to implementing state-of-the-art technology solutions.
- We calculate business cases with rapid proofs of concept before large investments are made.
- We help you design and implement sustainable and efficient automation initiatives.
- We support you in bridging the digitization gap between business acumen and IT knowledge.
PROJECT EXAMPLES
- Eraneos consultants provided guidance in developing an automated inconsistency dashboard and a global KYC profile across divisions for a large global bank. The project ensured KYC consistency by guaranteeing a single source of KYC data feed.
- Eraneos consultants analyzed the options for a Swiss bank to replace manual compilation and retrieval of historic KYC data with automatic retrieval of historic KYC data.
Compliance Culture
The prevailing corporate culture can hamper a company’s transformation process and people development if it conflicts with corporate strategy. At Eraneos, we understand that a company’s culture, strategy and operating model must be coherent for business success.
Compliance culture starts with leadership. The effectiveness of a compliance program requires a high-level commitment by company leadership to implement a culture of compliance at all levels of the organization. Leaders must ensure that misconduct and mistakes are being reported, that the organization is learning from incidents and that ethical behavior is incentivized. Likewise, it is essential that the leadership fosters educational programs and platforms to ensure employees actively engage in the compliance culture.
Our consultants at Eraneos support our clients in developing educational initiatives to adopt people behavior and improve collaboration. We help empower our clients employees to become risk-aware and compliant with tools that make performing compliance activities easy and straightforward.
EXPERTISE
Strong regulatory and compliance expertise dealing with clients across the globe.
- Excellent understanding of compliance culture development in the Financial Services sector.
- Experienced change consultants to mobilize and enable the workforce.
- Data analytics expertise to measure the maturity of the compliance culture.
SERVICE
- We develop methods to build and enhance a robust compliance culture that permeates the entire organization.
- We support our clients by offering a comprehensive maturity assessment that identifies opportunities for improvement.
- We guide successful transformations to an agile organization.
- We empower the workforce and ensure the right level of communication throughout the journey.
PROJECT EXAMPLES
- Eraneos consultants, in collaboration with legal counsel and global learning platform providers, managed the development and rollout of a worldwide employee training program for front- and back-office employees. The project anchored the bank’s strategy for its cross-boarder business.
- Eraneos consultants managed the digitalization and automation of a tender, selection, and vetting process applying the Agile Scrum framework.
Phone: +41 58 123 93 20
E-Mail: roman.regenbogen@awk.ch
