The role of the Compliance Officer is a mandatory position in all firms in the Financial Services Industry. They play a major role in assisting Senior Management to ensure that appropriate and effective systems and controls are in place to achieve and maintain compliance with the applicable Rules. While the nature of the Compliance Function is likely to differ from one firm to another, this course provides an easy to follow breakdown of what the Regulator expects of a Compliance Officer and explains, in practical terms how the regulatory expectations and those of Senior Management can be achieved.
We provide bank asset management groups engaged in trust, custody, and investment management activities with risk, compliance and internal audit consulting services leveraging techniques used by banking regulators and industry leaders. ACA specializes in asset management, and its true value and competitive advantage is the breadth and depth of expertise at all levels of the firm including prior regulatory experience at agencies like the Office of the Comptroller of Currency (OCC), Department of Labor (DOL) and Securities Exchange Commission (SEC).
We help internal audit departments maintain their stature and credibility within their organizations by lending our experienced consultants to execute audit plans, including required annual fiduciary reviews. Our solutions fit any phase of the audit process including planning, fieldwork, wrap-up and reporting. We also support first- and second-line risk and compliance professionals by helping them efficiently and effectively manage fiduciary risk.
ACA supports first and second line risk and compliance professionals by helping them efficiently and effectively manage fiduciary risk. Risk advisory consulting engagements include policy development, risk and control reviews and gap analysis, regulatory issue remediation (MRAs), control testing, and more. ACA’s services and level of involvement can be tailored to our clients’ needs.
ACA’s expertise in asset management is a valuable resource for Chief Audit Executives (CAE) who engage our firm to:
- Comply with fiduciary audit requirements
- Verify the completeness of their auditable entities
- Assess the reasonableness of risk ratings and annual plans
- Plan, execute, wrap-up or report on internal audits through co-sourcing or outsourcing arrangements
- Train internal staff to transfer more audit work to in-house resources
- 12 CFR 9
- Regulation R
- Servicemember Civil Relief Act
- Military Lending Act
- Bank Secrecy Act
- Identity Theft Red Flag Monitoring
- Privacy rules and regulations
- Investment Company Act for SIDDs
- Other federal and state banking standards
- Transaction processing
- Trade settlement
- Income collection
- Cault controls
- Post-acceptance and annual reviews
- Investment policy
- Asset allocation
- Subadvisor due diligence and monitoring
- Best execution
- Performance calculation and reporting
- Alternative investments
- Investment management
- Pre-acceptance reviews
- Account administration
- Unique assets
- Fee arrangements
- Affiliate transactions
- Soft dollars
- Retail nondeposit investment sales program
- Municipal Advisor Act compliance
- Cybersecurity, privacy and risk
- Robo-advising & digital wealth advising
- Third-party risk management/ vendor management
Regulatory change, COVID-19 fallout, and a rapidly mutating ecosystem of risks make this a challenging year for financial services firms. In our complimentary whitepaper, we examine the future of risk and compliance and how firms must respond to rapidly evolving circumstances.
- Trade & Transaction
- Managed Services
- Regulatory Deadlines
- Regulatory Technology
- GIPS Standards
A ransomware attack has led to the shutdown of the Colonial Pipeline, the largest fuel pipeline in the U.S. The Colonial Gas pipeline supplies gasoline, jet fuel, and other products to the eastern and southern U.S., providing 45% of the East Coast supply of fuel.
- Portfolio Company Risk Management
On May 4, researchers released details of a security flaw in Dell devices. The flaw affects hundreds of millions of desktops, laptops, notebooks, and tablets. Dell has released additional details of the vulnerability and a recommended fix.
ACA’s virtual spring conference is right around the corner. We encourage ACA Aponix clients to attend the sessions below or to invite other members of their teams to join in. Here’s a sneak peek at what you can expect and what you can expect to take away.
- Portfolio Company Risk Management
The FCA has issued a consultation paper outlining the first of its intended changes to "UK MiFID" conduct and organisational requirements. Learn more about the main proposals, the rationale behind them and the implications for investment firms
- Managed Services
The first in a series of quarterly updates, we provide a snapshot of institutional mandates and how those mandates ask about the calculation and presentation of performance. This information provides good insight into the demand for compliance with the GIPS standards and how that demand evolves over time.
ACA Group Announces ComplianceAlpha® 2021Q2 with New Features Designed to Help Financial Services Firms Meet Increasing Demands for Digitizing Compliance Programs
ComplianceAlpha 2021 Q2 introduces a suite of new features and sophisticated technology enhancements designed to help firms globally build more comprehensive and scalable GRC programs in line with the expectations of regulators, boards, management, clients, and investors.
Russell Investments Selects ACA Group’s ComplianceAlpha to Modernize Their Risk and Compliance Program from a Single Platform
Russell Invesments has selected ACA's ComplianceAlpha® to help modernize and streamline their compliance program.
The ever-increasing focus by the Regulators on the accountability of senior management, particularly when things go wrong, emphasises how important it is for individuals in senior positions to have a clear understanding of what is expected of them. This succinct course is designed to assist Senior Managers to have a full understanding of what they need to do to achieve compliance with the rules under the obligations created by the Senior Managers and Certification Regime (SMCR).
This course is specifically designed to assist Senior Management in meeting their statutory and regulatory obligations.