Reducing the Risks and Costs of Regulatory Compliance

Services

Mizen provides a range of services to help you manage and enhance your compliance program:

Compliance Program Assessments

Mizen can evaluate your program to identify any gaps or areas for improvement. Such assessments are critical in preparing the institution for any upcoming regulatory examinations or audit. The assessment can be tailored to specific needs or specific regulatory requirements of the institution, whether NY DFS 504, NY DFS 500, FINRA 3310 etc.

Compliance Program Design

Mizen can assist in designing a new compliance program or redesigning an existing one. As more industries are brought under the umbrella of financial services and subject to numerous compliance requirements, Mizen can support institutions that are overwhelmed with the magnitude of obligations related to developing a program or overhauling an existing one.

Compliance Program Remediation

Mizen can support you with program remediation activities. As audits or examinations issue findings and recommendations indicating your compliance program needs and enhancements, Mizen can assist by providing recommendations and remediation services tailored to your needs within prescribed deadlines.

Data Analytics

Mizen supports risk management by using sophisticated data analytics and trend analyses on transactions and account activities to gain additional insights concerning customers and account activities. Mizen has the experience and expertise to provide the independent perspective needed to meet regulatory rigor.

Data Quality Validation

Mizen understands the critical importance the quality of data contributes to having effective and efficient AML and OFAC monitoring/filtering systems. By analyzing the business and system architecture and then identifying all necessary data sources, Mizen can ensure the data flows appropriately and consistently into the AML and OFAC monitoring/filtering systems.

Model Validation

Institutions are required to validate their model frameworks to ensure their accuracy and effectiveness. Mizen’s approach not only examines the systems involved but also ensures that the appropriate governance and controls are in place. Mizen provides specialized validation services for Transaction Monitoring and Screening solutions, compliant with industry guidance, e.g., NY DFS 504, OCC 2011-12 and SR 11-7.

Transaction Reviews

 

Mizen can perform historical reviews of transactions whether under regulatory mandate or as proactive risk mitigation. Mizen employs a unique strategy to analyze transactions to identify the look-back period appropriately and to develop customized and suitable detection scenarios that generate appropriate alerts.

Outsourced Compliance Officer (CCO) Services

Mizen provides advanced services including outsourced CCO (Chief Compliance Officer) relationships by working closely and diligently with prospective clients, we can tailor an outsourced program specific for their needs. The intrinsic benefits of an outsourced CCO – including extensive experience, a full bench of support, and robust policies and procedures and all supported through our compliance management platform.

Firms leveraging this service can gain access to our bench of senior compliance professionals, with gain deep expertise and regulatory knowledge at a substantial cost benefit in comparison to hiring a dedicated, full-time CCO. These services are particularly applicable to those in the Digital Asset space or Broker Dealers  seeking alertnative cost effective solutions.

Mizen will provide you an outsourced CCO, with the support of our entire team, to provide the guidance necessary to maintain your regulatory program, typically at a fraction of the cost of bringing on full time staff. To learn more, contact us through our contact page.