Introduction
In today's complex regulatory environment, compliance and governance are paramount for the success and reputation of financial institutions. Livingstone Advisors, a trusted partner, has played a pivotal role in assisting a global investment bank in navigating these challenges and reinforcing their compliance framework.
Comprehensive Assessment of Organizational Readiness
The engagement began with a comprehensive assessment of the bank's organizational readiness for the Office of the Comptroller of the Currency (OCC) Heightened Standards and the Basel Committee on Banking Supervision (BCBS) Governance Principles. Our team meticulously evaluated the bank's Finance, Regulatory Reporting, Legal Disclosures Committee, and Mergers and Acquisitions groups to ensure adherence to regulatory requirements.
Liaison for Regulatory Examinations and Audits
As a dedicated liaison, we acted as the point of contact with the Federal Reserve Board (FRB) examiners for the FFIEC 101 exam and related audit coverage under the BCBS 239 Principles for Effective Risk Data Aggregation and Risk Reporting. This close collaboration ensured a smooth examination process and demonstrated the bank's commitment to robust risk management practices.
Coordinating Independent Assurance for Regulatory Commitments
Furthermore, we coordinated independent assurance across various initiatives tied to the bank's commitments to the Financial Industry Regulatory Authority (FINRA). These initiatives had a profound impact on broker-dealer supervision, compliance, technology, staffing, and training. By providing comprehensive oversight and guidance, we enabled the bank to meet regulatory obligations and maintain a culture of compliance.
Conslusion
Livingstone Advisors' expertise in regulatory work, coupled with our deep understanding of the banking industry, has proven instrumental in helping global investment banks navigate regulatory landscapes and strengthen their governance practices. Our commitment to building compliance confidence allows our clients to focus on their core business while having the assurance that their operations align with industry best practices and regulatory expectations.
