Global Bank & Broker-Dealer Large Supervisory Review & QC

A high-volume supervisory and quality control review requiring additional assistance.

Client Challenge

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.

Consilio Response

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.

Results Achieved

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

Company Profile

A global bank and broker-dealer

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Services Utilized