Delivering a holistic contract remediation and client outreach solution
Organisations undertake contract remediation and client outreach campaigns as a result of economic and/or regulatory changes impacting their contractual relationships. Examples of this include Brexit, the removal of the LIBOR rate, the introduction of global standards for derivatives products and more. Key benefits of our execution managed solution include:
- Global, reusable service model – PwC’s global service model has been designed to provide an agile, scalable service that is cost-efficient and can also be leveraged for any future needs.
- Integrated technology solution – PwC have invested in building proprietary technology that is more efficient for multi-reform programmes. This automates the processing of contracts to help minimise costs and streamline data capture.
- Data-driven performance reporting – PwC can deliver real time, detailed reporting across the end-to-end process, empowering you to manage your outreach strategy and repapering efforts, and maintain quality and consistency.
- Transformation of BAU – With experience of delivering large-scale transformation programmes, driven by market or regulatory pressures, we drive changes to your business model to ensure that future outreaches are robust and effective.
Delivering your eDiscovery requirements
Data is disparate, dealing with data is expensive and failure to prepare is costly.
We are armed with the experience and technology to immediately address your discovery needs. Our forensic technology team helps clients manage vast amounts of data, whether that be electronic or legacy hard copy files, and navigate the legal and business processes that are mandated by critical events. Key benefits of our execution managed solution include:
- Diverse review teams – PwC’s Global Managed Review teams include individuals from a variety of backgrounds and industries. A global team with the right experience for each specific matter.
- Dedicated delivery team – You will have access to a dedicated core team of experts who will act as an extension of your team, investing time in understanding your business and technology landscape.
- Real-time reporting – Delivering real time, detailed reporting empowers you to manage a portfolio of matters, providing greater visibility of matter sizes, data volumes and eDiscovery spend.
- Flexible and transparent pricing – PwC offers alternative pricing models, including annual subscriptions, tiered rate cards and pay-as-you‑go pricing.
Delivering finance function requirements
For the financial services sector to be fit for the future, it must be supported by strategic finance functions which support its performance objectives.
For finance functions to become a strategic partner of the business, it must have efficient operations to discharge the day-to-day activities required of the functions without consuming significant resources. Through our dedicated team a dedicated team of qualified and/or part qualified accounting resources our execution managed solution includes the following areas:
- Accounting and monitor controls - Accounts Payable, Accounts Receivable, General Ledger.
- Financial planning and analysis - Budgeting and Planning, Performance Management, Reporting and Analysis.
- Tax function activities - Compliance, Reporting, Reconciliation.
Delivering your ongoing KYC requirements
Across the UK, organisations are playing their role in fighting financial crime, meeting “Know Your Client” (KYC) requirements and mitigating risks of Bribery, Corruption, Money Laundering, Sanctions and Tax Evasion. Clients are seeking cost effective ways in carrying out this important business function in an effective and efficient manner. Key benefits of our execution managed solution include:
- Flexible and Scalable – Our KYC Execution Managed Solution can fit to the profile and scale of your requirements from a few hundred files per year to several thousands.
- Connected to your business – Our experienced team of Policy, Process, Operations and Analysts are UK based, equipped at working remotely and responsive to your business needs, risk appetite and ways of working.
- Cost effective – Through our already established teams, investments in technology, our KYC execution managed solution is a cost effective, sustainable solution to meet your KYC requirements.
Your PEP/Sanctions screening Execution Managed Solution
Financial services firms play a critical role in the defence against financial crime. Name list screening is a significant component of any financial crime risk management strategy – being necessary to meet regulatory requirements around the identification of PEP relationships and detect relationships with sanctioned entities. Key benefits of our execution managed solution include:
- Consistent quality – Take comfort knowing proven technology and SME insight is driving your screening operation.
- Reduced alert backlog – Your screening timelines will be improved ensuring your business is enabled to make timely informed decisions.
- Improved cost certainty – Automation efficiency gains reduce costs by removing waste from your operation.
- Scalable and flexible solution – Meeting your peak demand when and where your business needs it most.
Procurement & supply chain
Delivering your Procurement / Supply Chain support needs
Typically 40% of financial services firm’s costs are with third party suppliers, which represents a significant part of the overall value chain. It is also an area that attracts significant regulatory scrutiny with requirements to comply with both EBA and FCA guidance; eg SYSC 8.1. Key benefits of our execution managed solution include:
- Cost reduction – Identify commercial insights from our SPEND methodology which will help you optimise costs and drive efficiency.
- Reduced risk – Supplier risk assessment, due diligence and monitoring solutions to help you anticipate and mitigate inherent risks in the supply chain.
- Operating model – Review and optimise your end to end operating model across Sourcing, P2P and Third party Risk management to ensure sustainable performance.
- Scalable and flexible solution – Provide access to a scalable resource model that allows you to deal with increased volumes, change activity or risk remediation work.
Delivering your critical programmes through extended periods of business disruption
Over two thirds of our financial services clients’ change portfolio relates to non-discretionary or regulatory programmes. In the face of significant business or organisational disruption, these important programmes must stay on track.
Programme Partner is our sustainable execution managed solution that addresses your delivery disruption challenge, by providing you with experienced programme leaders, PMO specialists and leading edge delivery toolkits, all of which can be leveraged remotely. Key benefits of our execution managed solution include:
- Rapid deployment of the right expertise – In uncertain times, we understand the need to mobilise quickly. Our ready established teams are equipped and experienced in working remotely to meet your emerging needs.
- Reduced BaU disruption – Your key people can
re-focus on running BaU activities, engaging with programmes through
high-value governance forums.
- Improved cost certainty – Reduce unplanned spending by increasing the likelihood of delivering your programme first-time, on schedule.
- Scalable solution – Across programme leadership, PMO specialists and broader technology skillsets we have the scalable and technology enabled solution to support your change requirements.
Delivering your transaction monitoring alert handling requirements
Financial services firms play a critical role in the front line of defense against financial crime; fraud and AML transaction monitoring being essential weapons in the armory to protect against crime and maintain regulatory compliance. However monitoring is a pain point for many, who are struggling to maintain effective and cost-efficient alert investigation operations. Key benefits of our execution managed solution include:
- Scalable and flexible solution – Allowing you to increase and decrease your operations team to fit your demands.
- Maintain high quality standards – Our ‘Route to Competency’ accreditation approach monitors and ensures the highest standards of processing.
- Increased efficiency – With increased staff engagement and motivation our investigators boost productivity.
- Process and risk enhancements – By constantly reviewing the investigations process we can optimise the procedures and risk reviews.