Advised a multinational investment bank

We are delighted to have supported a multinational hedge fund and financial services company with Capital Markets Service License (CMSL)

Our Business Risk team was engaged to perform risk assessments (i.e., development and refresh of the internal audit plan) such as:

• Examining and assessing the current processes (including policies and procedures) to the relevant/applicable MAS rules regulations, guidelines, and notices
• Performing evaluation of the design and testing operating effectiveness of controls (including use of data analytics, where applicable) for in-scope entity and processes
• Delivering final report that details findings and recommendations, management action plans and any opportunities for improvements
• Conducting trainings for key stakeholders and senior management team on MAS regulatory topics, including industry best practices, challenges and common pitfalls

Value added

The Business Risk team provided insights and best practices of regulatory areas that were of key interest to the client. They also provided valuable insights on the outsourcing of key core functions via inter-group arrangements, inclusive of adherence to the MAS outsourcing guidelines. 

The team also conducted a complimentary workshop on key regulatory topics including latest updates to the senior management and key stakeholders, which was well received with the management team. 

Leveraging on the understanding of the client’s business and regulatory requirements, the team developed and executed a risk-based yearly internal audit plan for the client.