Global Bank & Broker-Dealer Large Supervisory Review & QC
A high-volume supervisory and quality control review requiring additional assistance.
The risk and compliance department of a global bank and broker-dealer was faced with the daunting task of performing a supervisory and quality control review. With hundreds of thousands of monthly communications flagged for review (over a million annually), the client requested support in meeting these high-volume demands.
The client’s existing internal resources dedicated to supervisory surveillance and review needed assistance not only to meet its regulatory requirements but also to conduct an independent quality-control review of the work performed.
Utilizing the client’s policies and written supervisory procedures, we were tasked with flagging communications requiring additional review over a six-month period, validating quality control and identifying potential violations for escalation to management.
Working under the direct supervision and guidance of the risk and compliance department, we readily deployed a full-time, experienced team of financial services document-review specialists to the client’s offices to supplement its existing internal staff. This increase in staff provided a 25% increase in review capacity.
Resource Availability and Scaling:
- Rapidly assimilated into the client’s existing internal team, expanding its review capability within weeks of the request
- Provided a team of professionals experienced in financial services communications review
- Provided flexible resources at a very competitive cost —significantly lower (estimated at 20% savings) than if full-time equivalents (FTEs) were hired
Timely and Knowledgeable Assessments:
- Provided timely assistance in identifying and providing professional follow-up related to confirmed and potential communication violations
- Completed project four weeks ahead of schedule
- Identified opportunities for quality control process improvement