Regulatory enforcement actions continue to rise. The vast amount of time and money spent on remediation cannot be justified in these economic times. But once an adverse regulatory action has occurred, prompt planning for corrective action is essential.
For over 15 years, the world’s largest global banks have relied upon IMAG for regulatory remediation. We understand that the only effective manner in overcoming adverse regulatory action is to FIX THE PROBLEM.
That’s where it gets tricky. Some clients utilize large consulting groups for their name recognition. However the “Fix” provided by many of these firms are merely template solutions. While they meet regulatory requirements, they do not fit well within the client’s culture or infrastructure. Some consulting firms utilize former regulators as consultants. While they have a deep knowledge of regulatory rules, they are not experienced in day to day banking operations. They can tell your staff the “what” but not the “how”. The result is that they can’t guide their solutions into a bank’s complex operating environment.
IMAG uses a different approach. All of our consultants are partner level subject matter experts with deep banking backgrounds in product, infrastructure, risk controls and systems. We combine their expertise with COOLMaps to analyze underlying process, pinpoint areas where change is required and plan and integrate tailored solutions into your banking culture, infrastructure, risk and technology environment. Our consultants work directly with your staff to ensure that the solutions function as intended within your business.
Time and again our analytical solutions have fixed the problem. Our approach has resulted in a rapid turnaround in regulatory and enforcement orders for our clients.