Regulatory inventory mapping: creation of a framework, policies, and procedures documentation programme
Regulatory inventory mapping, framework, policies, and procedures documentation maintenance programme
Client Need
The client sought expert assistance to assess the impact of risk-related regulatory guidelines across its APAC entities in seven locations. The bank required a thorough review of local, regional, and global frameworks, policies, and procedures documentation to ensure full compliance with respective laws and regulatory rules.
Role
We led a cross-jurisdictional team spanning seven countries in the Asia Pacific, including Hong Kong, liaising with client stakeholders ranging from regional senior management to executive committee members and working-level staff. Our key responsibilities included:
- Consolidation and management of identified documentation in a single, accessible repository.
- Comprehensive, line-by-line assessment of all identified documentation against relevant regulatory rules and laws, ensuring complete accuracy and compliance.
- Conducting a detailed gap analysis to identify any rule omissions or "irregularities" within the documentation.
- Drafting and proposing necessary documentation amendments based on identified gaps.
- Management of the process for the proposed amendments, including socialising with relevant stakeholders for feedback.
- Leading the governance and approval process of any proposed changes, coordinating with the relevant approving bodies to validate documentation changes.
Value Added
Our efforts successfully culminated in the creation of a comprehensive repository of all frameworks, policies, and procedures across the Asia Pacific region. Each document was carefully mapped against its relevant respective regulatory rules and laws, providing a clear, holistic view of the bank's regulatory landscape.
We also provided recommendations for necessary amendments to the documentation, ensuring complete compliance with all relevant laws and regulatory rules. This process was complemented by effective management of the governance and approval processes, ensuring all changes were duly reviewed and approved by the relevant bodies.
In addition to this, we created an exhaustive inventory of all relevant laws and regulatory rules, providing the bank with an invaluable resource for future compliance efforts.
The client was not only able to comply with regulatory rules and laws across multiple jurisdictions but also established a solid foundation for ongoing compliance and risk management efforts, fostering robust regulatory risk management practices.