Our client is a successful business entrepreneur based out of UK for last 12 years. CSL’s main business is providing compliance consultancy and RegTech services to firms that are regulated by the Financial Conduct Authority or the Prudential Regulation Authority. This is a heavily regulated sector and many firms employ consultants such as CSL to keep them on the right side of the regulator.
CSL is growing well and needs to start considering its own internal management systems. A key element of terminology is the Compliance Monitoring Programme or “CMP”. This is a list of actions that need to be taken on a regular basis (different frequency for different actions, from daily to annually) to prove the compliance of the business. It might include checking client files, reviewing the board minutes and so on. Included in the accompanying Excel file is an extract from a CMP and a sample of an annual view of the CMP once it has been scheduled and a chronological view.
As a business CSL has several challenges. Central to this is the management of remote staff carrying out many actions up and down the country on a regular scheduled basis – e.g. implementing a CMP for each client. These need to be tracked and recorded as complete and the time spent recorded against them. Completion of these actions includes identifying the status of client contracts – i.e. have we completed all the actions that we need to do to honour the contract? This specification describes the steps taken to get there.
A further motivation behind this application is to portray ourselves as differentiated and market leading to clients. Therefore, a client login employs the services to access their own data.
Ensure software quality and reliability
The company’s services include the development of components, functions and simulations systems integration and networking, information and testing systems. Since software drives the functionality of these systems, comprehensive quality management and quality assurance measures must be employed in software development. The development team wanted to capture required functionality and manage any changes so that they can catch and resolve quality issues in an efficient manner.
Through the breadth and depth of their collective expertise and experience we offer an outstanding service, interpreting the regulations, providing practical, usable advice and solutions that work for Client business and the regulator - and ensuring that compliance makes a positive contribution to your business.
Client’s products’ time-to-market considerably reduced, Specialist consultant led services helping to minimize the regulatory burden and using technology to reduce the cost of compliance, provide transparency and traceability and deliver management information that enables more informed risk and compliance management decisions.
It's a proven formula, CSL successfully managed more than 1,100 new FCA applications and over 800 firms rely on our ongoing compliance support and guidance.
CMP (Compliance Monitoring Plan) Plus is a cloud-based risk and compliance management solution for organizations of all sizes. Performing day to day all business compliance, manage all client data files and documents also manage online auditing system, on boarding due diligence as per FCA standardised.view more