Regulatory rules mapping enables the senior managers and the firm to have the assurance needed to demonstrate to stakeholders, including the regulator, that they are fully aware of their regulatory obligations.
Taking the regulatory footprint, we map directly back to the firm’s operations and controls environment, creating direct links between what the firm should be complying with and exactly how these obligations are met operationally. This second-tier matrix, maps directly to the controls including policies and procedures in place through the firm’s enterprise risk and control framework. The mapping provides clear visibility of governance and ownership with ‘line of sight’ precision, enabling the firm to quickly identify any compliance gaps whilst also ensuring that accountability and continuity are fully covered.
The first product of the mapping exercise is a comprehensive breakdown of applicable regulations, highlighting any gaps in awareness and subsequently compliance. It is immediately possible to prioritise the most important areas for attention as well as keeping an open and transparent relationship with the regulator and maintaining clear internal communications.
“An essential compliance tool”
For the past 15 years, Lysis Financial has helped businesses reduce their operational losses, reduce the cost of borrowing (through enhanced credit ratings), and free up regulatory capital. Lysis embeds a risk-based strategic approach into its projects and operational decision-making, enabling our clients to be assured of sustainable success.