OUTSOURCED COMPLIANCE FUNCTION

Tailored to suit your Organisation

WDA have developed the service offering of a Fully Outsourced Compliance Officer. We have curated compliance checklists and designed compliance universes to meet the demands of a number of regulated sectors including Credit Unions (The Credit Union Act) and Charities (The Charity Act and Governance Code).

“If you think compliance is expensive, try non-compliance” -Former U.S. Deputy Attorney General Paul McNulty

We have outlined below how the implementation of a typical compliance function engagement

Please note all engagements are tailored to fit your Organisations resources and expectations

Assess existing Compliance Function. Review: Annual Compliance Plan, Annual Compliance Statement, Breach Register, previous reports, Internal Audit Reports, Risk Reports etc.

Review Compliance Polices (including Organisation’s Materiality Statement) & make recommendations for improvements (where required)

Implement updated Annual Compliance Plan

Assess the Organisation’s compliance in line with Credit Union Act

Assess the Organisation’s compliance in line with all other relevant legislation (AML, Data Protection etc.)

Update Breach Register and review remediation plans for all identified breaches

Deliver compliance reports to Management Team and Board of Directors: Report periodically on compliance assessments, identified breaches

Review and report on relevant upstream legislative and compliance issues

Deliver compliance training to help embed culture of compliance

Prepare Annual Regulatory Compliance Statements as necessary

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