Effectiveness and Efficiency; a Compliance Officer Christmas Wish

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A day-to-day true story

“Project 321-A has been assigned to the Conduct Division of Prudential Compliance (37th floor); just call them for an update”….Does it sound familiar? Of course not. Most Compliance Professionals do not work in a corporate environment with armies of people doing one specific job only. The real world is full of small and medium size businesses, where in many cases the person in charge is lucky to have more than 10 staff “to help”; hopefully 10 good ones, and not 10 that will take all of your time having to be managed – and in some cases performance managed – so you can make things work.

There are also great mid-to-senior management layers where meetings are called to discuss how you will handle the next meeting; regulatory requests where authorities may ask you to engage in fishing exercises where you are left to find things authorities do not know they are looking for….December is coming, people go on holidays and some, may also become a little bit too distracted by their Christmas spirit (nothing wrong with that, some may say).

Compliance, an uninterrupted round-the-clock operation.

Unfortunately, rules and work tend not to take time off from implementation and day-to-day obligations, quite the opposite. Things tend to get more difficult when your time is taken up having to manage staff and staff turnover, whilst spending time in unnecessary meetings, and updating the to-do list are all part of the necessary evil of running a successful compliance department, and when Christmas carol singing becomes part of the to do list too… that is when it gets out of control. Your list of regulatory requirements and items subject to implementation is not getting any smaller ….perhaps this is the time to ask Santa whether among your presents you would be getting some real help in relation to volumes of sanctions checks, clearing false positives, remediation of client databases, monitoring suspicious activity and reporting. The wish to have qualified experienced individuals within the field, whilst also providing the necessary tools to help you manage your workload and mitigate the risk, which if are constantly on the increase, may lead to failure – QGen is here to help you.

Automating and outsourcing key processes are great ways to free up time and allow you to “play the game” at work and give everyone the time and attention they need from you. QGen do not only support and help you achieve your goals, but also help you achieve the peace of mind you need to actually enjoy your own Christmas.

We currently help a number of key players within the field of iGaming, Financial Services and e-commerce; all with the heavy lifting of their day to day compliance, onboarding and ongoing monitoring, KYC/KYP/KYB Sanctions and pep check (these are amongst the services provided by QGen – check the full list of services here.

Let us help take the burden away from you and facilitate effective and efficient controls by our skilled compliance officers and consultants, and find a solution that will run all year round and not only during this holiday season, may this wish be nothing other than a permanent Christmas wish.

Email us today on: info@qgengroup.com