Governance and Compliance
Lysis' Governance and Compliance solution assists firms to meet the expectations of the FSA by focussing on the following:
- A comprehensive approach to governance
- Use of a wide range of appropriate qualitative and quantitative risk management information throughout the firm
- Employing effective stress testing and scenario analysis
- Active controls over the consolidated balance sheet, liquidity and capital
- Clearly defined strategy and risk appetite
- Composition and role of Board and Board committees
- CRO (Chief Risk Officer) and Risk functions
- Remuneration policy
What's on the FSA's list of top 10?
- Embedding Treating Customers Fairly (TCF)
- Basle II / III, Solvency II and Capital Adequacy
- Risk management
- Governance
- Data and information security
- Financial crime including fraud
- Data quality
- Regulatory scrutiny change and compliance
- Credit risk
- Capital and liquidity
Intensive Supervision - what does that mean for firms?
- Focuses on the risks inherent in your business model and allows the FSA to be pro-active in the management of these risks.
- The outcomes philosophy allows the FSA to judge firms based on forecasting and testing likely outcomes of their actions.
- The proportion of time looking at systems and controls will reduce and allow the FSA to focus on the firms actions.
Our approach
Lysis' Governance and Compliance consultants have extensive experience having worked at the FSA, on Bank of England and industry-body committees and at a senior level with major UK, US, European and Japanese financial services firms.
We work with our clients to implement Governance and Compliance change based on best practice and our detailed understanding of the expectations of the regulators.