RCM – Regulatory Compliance Management

Every year, more than 200 new regulatory issues and around 500 amendments to existing rules result in high expenditure related to their identification, evaluation and implementation. Using suitable tools for the implementation and support of regulatory processes can significantly reduce these expenses.

Do you want to know what additional costs will emerge in day-to-day business for the compliance function through the fulfilment of the minimum requirements for risk management (MaRisk)? How can you find ways and means of significantly reducing these costs? SKS Advisory has the answers.

This is because in the "Regulatory Compliance Management“ (RCM) solution we have pooled our extensive expertise in identifying and implementing regulatory requirements. The objective of RCM is to create a unique definition of a bank-wide regulatory portfolio that contains all the current and relevant new developments and amendments.

The compliance function acts as a central interface for all relevant issues

The regulatory process is implemented in parallel, using a standardised procedure and with clearly defined responsibilities. This ensures that the implementation of the new requirements is goal-oriented and, above all, cost-effective. The compliance function acts as a central interface, which maintains an overview of all the relevant issues and is always able to provide information about the respective current status for all projects. In this way, the compliance function can fully meet its specified requirements.

Support for the entire range of issues is provided by the RADAR data services as well as by the workflow tool RWC (Regulatory Workflow Center). RWC offers you the possibility of automatically entering the relevant regulatory guidelines from RADAR as well as of storing own requirements that are specific to a particular institution. The standard workflows that are implemented allow both efficient interaction as well as targeted communication between the compliance function and the divisions affected by the guidelines. Regulatory and internal guidelines are presented in a transparent way. The issues and measures derived from this are clearly allocated to the implementing divisions and people and the implementation status is logically documented. Furthermore, the complete life cycle of a regulatory requirement is mapped out so that there is no possibility of changes being made.

RWC – Regulatory Workflow Center

The steady increase in the number of new regulatory requirements harbours not only high costs but also risks for your business model.
 
We are able to provide you with optimal support in dealing with the regulatory process. This includes helping to identify new rules, support in performing an evaluation that is specific to a particular institution as well as your in-house implementation. 

  • Support for the MaRisk Compliance Officer (MaRisk AT 4.4.2)
  • Standard integration of external data services such as, e.g., RADAR
  • Setting up a complete regulatory portfolio with internal and external guidelines
  • Central coordination and decentralised evaluation of legal norms
  • Grouping norms into institution-specific topics
  • Definition of those responsible and of the measures required
  • Support for implementation controlling to ensure adherence to deadlines
  • Saving resources and avoiding duplication of work through standardised workflow

You can benefit from a standard solution that has been tried and tested in the market. It was developed together with financial institutions and has worked well in practice in companies of varying sizes.

  • Further development and support through continuous dialogue with our clients
  • Tailored to your requirements thanks to the modular format and customisability of the application
  • Standard solution that works well in practice

You too can benefit from the advantages of RWC, which we develop with our partners and customers on an ongoing basis. This ensures that even in the future you will be able to operate efficiently in the dynamic regulatory environment.

Please contact us!

We would be happy to give you a deeper insight into our IT solutions as well as the available tools. Moreover, in consultation with you, we would be pleased to develop an implementation strategy that is precisely tailored to your requirements.