Compliance Health Check

Types Of Health Checks:

1. Complimentary Compliance Screening (2-3 hours): A high-level review designed to identify any immediate compliance issues, providing an initial assessment at no cost.
2. Standard Health Check (5 days): A thorough examination of your firm’s compliance framework, focusing on core areas to ensure compliance with current regulations.
3. Extended Health Check (10 days): An in-depth analysis of your compliance program, with additional focus on specific areas that may require more attention due to complexity or risk.
4. Assurance Health Check (10-15 days): A comprehensive review tailored to larger or more mature firms, providing detailed feedback and assurance that compliance practices are aligned with best-in-class standards.
5. Deep Dive Health Check (15+ days): The most exhaustive option, offering a deep and detailed evaluation of all aspects of your compliance and risk management frameworks.

Areas We Cover:

Operational Resilience Assessment
Cybersecurity ICT Audit
Consumer Duty
Prudential
Risk Management
Framework
AML
Governance
Systems and controls
Threshold conditions

Code of conduct
Fitness and propriety
Prudential standards
Conduct of business
Client and money assets (CASS)
Market conduct
Product governance
Supervision
Complaints

Key Benefits

Adherence to Laws: Ensures your firm stays agile and up to date with the latest regulations thereby avoiding costly fines, sanctions or legal actions from regulatory bodies.
Risk Mitigation: A Health Check may uncover gaps or weaknesses in your compliance framework, such as inadequate policies or outdated procedures, that could expose your organisation to risks of legal disputes, financial losses and reputational damage.
Improved Operational Efficiency: A Health Check can identify inefficiencies in current processes, leading to more streamlined operations and better allocation of resources.
Strengthened Reputation: Demonstrating a commitment to compliance through regular Health Checks enhances your organisation’s credibility with clients, partners and Regulators.
Increased Employee Awareness and Accountability: Health Checks can identify areas where employees need more training or guidance, improving overall compliance culture within the organisation.
Preparation for Regulatory Audits: Organisations can ensure they are always prepared for regulatory audits, reducing the stress and workload associated with unexpected audits with fewer findings or issues raised by auditors.
Facilitates Strategic Decision-Making: Health Checks provide valuable insights into your organisation’s compliance status, allowing leaders to make informed decisions about risk management and strategic planning.

Our Process

Independence and Assurance: Complyport’s independent assessments ensure unbiased feedback, which is essential for validating your compliance effectiveness to the Senior Management, the Board and the Regulators.
Operational Resilience and Cybersecurity: Complyport uniquely offers health checks that include assessments of Operational Resilience and Cybersecurity, critical areas in today’s regulatory environment. These checks ensure that your firm is not only compliant but also prepared to handle operational disruptions and cybersecurity threats.
Benchmarking Against Peers: With an extensive database, Complyport can benchmark your firm’s practices against industry peers and sectors, providing insights into market-leading practices as well as effective regulatory adherence.
Efficient Project and Data Management: Complyport stores data electronically, enabling smoother and quicker reviews in subsequent years, along with the ability to generate meaningful Management Information (MI) and benchmarking analysis over time.

These elements make Complyport a leading partner in ensuring that your firm remains compliant, resilient and secure in an increasingly complex regulatory landscape.