Solutions
Risk & Compliance
Government agencies are mandating higher and higher levels of regulatory compliance, including the use of data to monitor and audit compliance effectiveness along with increased enforcement. At the same time, it’s become harder than ever for organizations to gain control over a rapidly growing and disparate set of digital communications channels. As a result, many organizations are finding new challenges in risk and compliance that require advanced tools and expertise to solve.
To help companies navigate this new environment, FTI Technology offers risk assessment models, communications monitoring, and advanced technology solutions to improve the effectiveness of corporate compliance programs. This requires not only a continuous understanding of a company’s risks, but also the ability to leverage technology to better identify, assess and manage risks and more effectively detect and remediate violations. With this digital-first approach, FTI’s experts work with our clients to create bespoke solutions for the long term, including:
Risk Advisory
FTI Technology evaluates the industry, operations, business model, technology stack, key data systems, and regulatory exposure of the business to develop a comprehensive risk assessment that identifies the likelihood and impact of each risk in scope and provides an overall assessment of the health of the compliance program.
Compliance Technology Consulting
FTI Technology advises on the organization’s ability to use data effectively, and harness advanced tools like GRC and workflow solutions. We evaluate the capabilities of existing systems, assist in the selection and on-boarding process for new technology, including integrating relevant data sources, automating processes, and creating custom reports and tools.
Analytics & Monitoring
We provide technical tools and client-tailored workflows that enable proactive screening of business communications for risk and non-compliant activities. Leveraging years of experience working on a wide array of cross-border regulatory matters and internal investigations, FTI Technology utilizes AI-driven modeling to develop monitoring solutions tailored to an organization’s identified risk areas and industry specifics.
Related Resources
Third-Party Risk Management (TRPM) Technology Services
In an era where organizations increasingly rely on third-party vendors and partners, managing risks associated with these external entities is critical. The complexity of these relationships, combined with global supply chains and rapidly evolving regulatory landscapes, necessitates a robust Third-Party Risk Management (TPRM) program enabled with technology to provide efficient workflows for supply chain risk assessments, vendor diligence procedures, and external screening and market data integration.
Streamlining Off-Channel Communications Systems
Organisations in regulated industries, particularly financial services, are grappling with the increased complexity of managing compliance across multiple communications channels. The growing use of personal devices and encrypted messaging apps such as WhatsApp, Telegram and Signal for business purposes has prompted a new wave of regulatory scrutiny. The U.K. Financial Conduct Authority recently emphasised regulatory compliance expectations for preservation of off-channel communications, following a similar approach taken by the Securities and Exchange Commission and Commodity Futures Trading Commission in the U.S. This push comes as regulators aim to enforce transparency, accountability and proper record-keeping, which are critical for preventing market abuse, insider trading and other forms of misconduct.
White Paper
Scrutiny over off-channel communications and emerging data sources such as modern communications tools, collaboration platforms, personal devices, chat applications and ephemeral messaging, has become a serious and increasing focus in regulatory enforcement. Over the past two years, the Securities and Exchange Commission and the Commodity and Futures Trading Commission have issued more than $2 billion in fines to financial services institutions for record keeping failures related to messaging applications. Following suit, this year, the Department of Justice and the Federal Trade Commission have shared new guidance to specifically emphasize expectations that off-channel communications be preserved and monitored as part of routine compliance programs.
Case Study
Software Provider Leans on FTI Consulting to Evaluate Global Compliance Analytics and Metrics
A global software company needed to modernize its compliance program. With a focus on applying data and technology effectively in support of a global framework, the organization engaged FTI Consulting’s Risk & Compliance experts to assess the existing program’s maturity, data sources, analytics dashboarding and existing tools, and guide the company in transforming its program.