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Compliance Advisory
Compliance Advisory
The banking and financial services industry is going through a growing array of compliance obligations by every passing day. In addition to the increasing number of business regulations, the financial intermediaries need to keep themselves updated with new evolving obligations coving board composition to data privacy and requirements related to environmental, social, and governance (ESG). Furthermore, economic and trade sanctions pose a constantly shifting challenge given the global nature of supply chains, subsidiary holdings, and customer and banking relationships.
Fulfilling these compliance requirements requires a complex mechanism that includes policies and procedures, training, whistleblowing channels, internal audit, escalation, response, and disclosure. Complicating matters further, the mechanism must comply with regulations that differ across jurisdictions, and that may even be at odds with one another.
Hyperion Advisors helps organizations to evaluate their preparedness for compliance with existing and new regulations. We assist our clients evaluate their compliance functions, preventing regulatory breaches, and preparing them to respond quickly and effectively should a breach occur. Our team includes domain experts with business, regulatory, and audit backgrounds, data analysts, corporate compliance experts, and ex-partners from large audit firms. We have extensive expertise in all major compliance areas including SEBI stipulated regulations for all registered intermediaries, RBI regulations for banks, NBFCs, ARCs, and IRDA regulations for insurance companies including life insurance, general insurance, corporate agents, corporate laws including Companies Act, labor laws, ESG requirements.
Our engagements are customized to address a range of client needs, including:
Compliance Policies and Procedures:
Evaluation of the effectiveness of existing compliance policies and procedures
Verification and Prevention of breaches:
Identify, verify and prevent breaches of regulatory requirements
Compliance Library and Calendars:
Designing the compliance library and compliance calendars for setting up the expectations from the stakeholders
Compliance Structuring:
Provide advisory on design of the compliance structure, compliance reporting systems, compliance programs and trainings
Compliance Interpretation:
Advisory to interpret new regulatory developments and implementation assistance
Management Assurance:
Management assurance programs for compliance with regulations
Technology:
Automation of the compliance function including compliance library, calendars, self-certifications and compliance repository
Internal Financial Control Framework:
Designing the internal financial control framework under the requirement of Internal Control Over Financial Reporting (ICOFR) including identification of key components of financial reporting, identification of risks associated with the financial components, control mapping, understanding efficiency and effectiveness of the controls and recommendations
Management Assurance Programs:
We help in identification of key business processes/areas and assist organizations to understand critical concerns to be addressed. Risk maturity assessment is carried out during such programs to understand the state of controls.
Regulatory Preparedness:
With the ever-rising compliances and the increasing number of regulatory circulars, every organization must prepare itself with robust processes and technology. Non-compliance may result in hefty penalties and a huge reputation risk to any organization. We assist our clients with regulatory preparedness with compliance advisory including review of the state of compliance function.
Risk-Based Assurance Programs:
With our ability to look beyond the obvious, we provide assurance solutions to identify thematic problems categorized as compliance violations, data quality issues, process control gaps, and policy non-adherence. Our solutions include thematic reviews, operational reviews, outsourcing reviews, branch reviews, concurrent reviews, etc.
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Compliance Policies and Procedures:
Evaluation of the effectiveness of existing compliance policies and procedures -
Verification and Prevention of breaches:
Identify, verify and prevent breaches of regulatory requirements -
Compliance Library and Calendars:
Designing the compliance library and compliance calendars for setting up the expectations from the stakeholders -
Compliance Structuring:
Provide advisory on design of the compliance structure, compliance reporting systems, compliance programs and trainings -
Compliance Interpretation:
Advisory to interpret new regulatory developments and implementation assistance -
Management Assurance:
Management assurance programs for compliance with regulations -
Technology:
Automation of the compliance function including compliance library, calendars, self-certifications and compliance repository