GRC Solutions for Bank Asset Managers

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).

Our solutions

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.

Risk Advisory

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.

Internal Audit

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
Compliance
  • 12 CFR 9
  • Regulation R
  • Servicemember Civil Relief Act
  • Military Lending Act
  • Bank Secrecy Act
  • OFAC
  • Identity Theft Red Flag Monitoring
  • Privacy rules and regulations
  • Investment Company Act for SIDDs
  • Other federal and state banking standards
Trust Operations
  • Custody
  • Transaction processing
  • Trade settlement
  • Reconciliations
  • Pricing
  • Income collection
  • Disbursements
  • Cault controls
Investment Management
  • Post-acceptance and annual reviews
  • Investment policy
  • Asset allocation
  • Subadvisor due diligence and monitoring
  • Best execution
  • Valuations
  • Performance calculation and reporting
  • Alternative investments
Collective Investment Funds
  • Administration
  • Operations
  • Investment management
  • Compliance
Trust Administration
  • Pre-acceptance reviews
  • Account administration
  • Unique assets
Conflicts Management and Disclosures
  • Trading
  • Fee arrangements
  • Affiliate transactions
  • Soft dollars
Other Services
  • Retail nondeposit investment sales program
  • Municipal Advisor Act compliance
  • Cybersecurity, privacy and risk
  • Robo-advising & digital wealth advising
  • Third-party risk management/ vendor management
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Latest insights

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Post-Brexit FAQs - FCA Authorisation and Compliance for EEA Firms in the TPR

July 21, 2021

The FCA is now offering firms that signed up to the Temporary Permissions Regime a “landing slot” to apply for full authorisation. Firms that miss their slot risk losing their temporary permissions completely. Read our FAQ's to learn more about your requirements.

Compliance Alert
  • Brexit
  • FCA
  • Compliance
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The Department of Homeland Security Requires Pipeline Operators to Set Cybersecurity Safeguards

July 21, 2021

The U.S. TSA and DHS have issued a directive to operators of fuel and gas pipelines that requires them to improve their cybersecurity defenses.

Cyber Alert
  • Cybersecurity
  • Portfolio Company Risk Management

Q3 2021 Regulatory Reporting Deadlines

July 20, 2021

Regulatory filing submission deadlines for the SEC, CFTC/NFA, and ESMA occurring from July through September 2021

Article
  • Compliance
  • Regulatory Deadlines

ACA's Regulatory Reporting Monitoring & Assurance (ARRMA) service winner of the 2021 HFM European Technology Awards

July 19, 2021

Within a year of launching, ACA Group is delighted to announce that our ACA Regulatory Reporting Monitoring & Assurance (ARRMA) service has been selected as Best Regulatory Reporting Solution in the 2021 HFM European Technology Awards.

News
  • Regulatory Technology
  • Trade & Transaction
  • ACA News
Roads and roundabouts

Protecting Your Business as Offices Reopen: A Seven Step Cybersecurity Action Plan for Physical and Hybrid Work Environments

July 17, 2021

ACA Aponix’s cybersecurity experts have developed the following action plan to help your firm review, revise, and implement a strong cyber program that will help protect your firm against reputational and financial damage as well as meet regulatory obligations, no matter what type of work model you’re employing.

Article
  • Cybersecurity
Roads and roundabouts

EU Cross Border Fund Distribution Directive and Regulation - Raises More Questions than it Answers?

July 15, 2021

Marketing rules have traditionally taken a jurisdictional rather than EU wide harmonious approach. With new cross border distribution rules coming into play on 2 August 2021, we examine the impact on AIFs and UCITS funds.

Compliance Alert
  • Compliance
  • ComplianceAlpha
  • Brexit

News

96% of Firms Unprepared for the FCA’s New Prudential Regime

With less than six months to go until UK investment firms are subjected to a completely new prudential regime, a recent survey reveals that the industry is vastly underprepared. The data shows that just 4% of respondents are ready and capitalised for the FCA’s new Investment Firm Prudential Regime (IFPR) coming into effect in January 2022. Learn more about what this means for firms.

Waters Rankings 2021 Name ACA Group's ComplianceAlpha® Best Anti-Money Laundering Compliance Solution Provider

Our ComplianceAlpha® platform has been named Best Anti-Money Laundering Compliance Solution Provider in the Waters Rankings 2021.

ACA's Regulatory Reporting Monitoring & Assurance (ARRMA) service winner of the 2021 HFM European Technology Awards

Within a year of launching, ACA Group is delighted to announce that our ACA Regulatory Reporting Monitoring & Assurance (ARRMA) service has been selected as Best Regulatory Reporting Solution in the 2021 HFM European Technology Awards.

Upcoming events

Senior Management Obligations under the SM&CR - 11 August 2021

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).

Online Training

Compliance Induction - 17 August 2021

Senior management in Financial Services firms have a responsibility to ensure their employees have sufficient knowledge and understanding of the Regulatory environment they are working in. This knowledge helps in emphasising the need for compliance with policies and procedures in order to protect the firm and the individual from failing to “do the right thing”.

Online Training