Supports financial institutions in conducting customized diagnostic or in-depth assessments to identify and address areas for improvement.
Supports financial institutions in conducting customized diagnostic.
Our approach is to customize our services to best suit our clients' needs. Our wide range of compliance related services will assist in meeting the host of challenges that financial institutions face in this ever changing regulatory environment.
Our services include:
Review of Regulatory Compliance
Review of Regulatory Returns and Reporting Process
Develop Compliance Manuals
Develop Key Obligations Register
Provision of Regulatory Specialists
Provision of Training
|Strategy and Impact Assessment|
|Central Bank||Assisted the central bank in creating a roadmap to a smoother, smarter retail payments landscape in Singapore. The work includes examining the regulatory and governance frameworks in other best-in-class jurisdictions and recommending them for adoption in Singapore.|
|European Bank||Assisted the bank to assess the feasibility of setting up a locally-incorporated subsidiary in Singapore. The assessment included the evaluation of regulatory implications for various set-up options proposed by the bank under different banking licenses such as liquidity, capital and operational considerations, and the recommendation of an appropriate set-up option based on the bank’s strategic requirements.|
|Australian Bank||Performed a review of the regulatory implications arising from the bank’s expansion of transactional banking business in Asia Pacific region. The review included the evaluation of all regulatory and operational implications arising from the introduction of transactional banking products and services, recommendation of appropriate actions to address those regulatory and operational considerations, and provision of industry best practices and regulatory "hotspots".|
|European Bank||Provided training to Senior Management covering key MAS regulatory returns, highlighting the key requirements and common errors noted from other banks in preparation of these returns.|
|Dutch Bank||Provided training to Senior Management and bank staff on selected Singapore banking laws and regulations, covering topics such as lending and investment restrictions, capital and asset maintenance requirements, anti-money laundering requirements and Foreign Account Tax Compliance Act ("FATCA").|
|Local Bank||Conducted regulatory awareness training which included topics such as an overview of the MAS regulatory regime, key Singapore banking laws and regulations, Personal Data Privacy Act, and international regulatory developments.|
|Regulatory Reporting Review|
|Chinese Bank||Performed a review of selected regulatory submission returns to the MAS and provided our findings and recommendations where gaps and areas for improvements were identified. The gaps identified mainly pertained to errors, misclassifications or omissions in reporting. We had also provided recommendations on implementing additional controls to enhance the regulatory reporting processes.|
|German Bank||Performed a review of selected regulatory submission returns and provided a report of our assessment, including details on the deficiencies/gaps identified during the course of our review, and explanatory notes on how the data should be appropriately classified and computed.|
|Policies and Procedures Review|
|US and European Banks||Performed a review of the bank’s risk and control framework, which included assessing the adequacy and effectiveness of controls and processes over areas such as front office and sales surveillance activities, head office and management oversight, outsourcing, credit and collateral management, and customer due diligence processes. Policies and procedures were also reviewed to ensure that they were in line with MAS requirements and industry best practices. Where gaps or areas for improvements were identified, recommendations were provided.|
|Taiwanese Bank||Conducted a review of the bank’s policies and procedures over anti-money laundering to ensure that they were in line with MAS requirements and industry best practices. Where gaps or areas for enhancements were identified, recommendations were provided.|