Review and Control
Skadi provides Subject Matter Experts (SMEs) to Compliance departments and Internal Audit (IA). Our dedicated team are senior Front Office professionals with experience of a broad range of complex financial products.
Whether supporting a Compliance department (2LoD) with a detailed review of internal procedures and controls or Internal Audit (3LoD) with an AGILE Audit, Skadi Limited SMEs have the knowledge and detailed market understanding to ensure maximum efficiency is achieved and firms valuable resources are prioritised in the areas of increased risk.
Compliance / Internal Audit workflows
Skadi Limited’s market experts work with the 3 Lines of Defence (LoD) and help control functions at Financial Institutions (FIs) improve their efficiency. Independent advice, guidance and product training is provided to the Internal Audit or Compliance teams throughout. With our experts as part of the internal team, Auditors and Compliance and Control Officers will spend less time and resources in understanding the financial products or business strategy under review. Our Front Office professionals fit seamlessly into the firm and are experienced in the latest techniques and methodology such as AGILE.
We undertake detailed conduct reviews for audit and compliance functions, identify key risks, plan and direct interviews and initiate investigations of front to back personnel and procedures. Having independent market experts within the control function team means the difficult questions will always get asked, exactly when they need to be asked. Complex products and issues are our speciality and we know that these are generally the highest risk areas for potential misconduct. Skadi professionals can provide detailed reporting to institutions’ supervisory boards and also financial regulators around the world.
Policy, Procedure and Control Review
Internal Auditors and Compliance Officers receive an independent Policy, Procedure and Control evaluation report, together with recommendations to mitigate areas of identified increased risk. Financial Regulators are increasingly instructing firms to consider obtaining independent expert advice, as it is often found that policies procedures and controls that may on paper appear to be watertight, can easily be circumvented by employees with detailed market knowledge in the real world.
Audit and Compliance Projects
Skadi Limited is committed to business integrity and will undertake project work with Financial Institutions (FI’s) to improve their overall efficiency. Where any weakness has been identified internally, or a firm has received a regulatory censure or fine, Skadi independent experts will conduct an in-depth review. This can be performed globally or by specific region, with our specialist teams market expertise able to cover all tradable asset classes.
Our professionals will look at all areas and available mitigation options within the firm and with external vendors, to address any issues identified. Often areas included in this type of project are; data analytics, systems or vendor usage, integrated surveillance, staffing levels, management reporting, risk management, policies, procedures and controls and staff training. An independent detailed project report, compiled by our experts will be delivered to the firms management on review completion.
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