Governance Risk And Compliance Services and Programs| Risk Reporting

A good business is founded on sound corporate governance principles. In the face of stricter compliance standards and greater exposure to enterprise-wide risks, businesses need to ensure that they establish adequate risk management measures and compliance management programmes. Failing to do so can lead to non-compliance or even business disruption and could possibly result in a loss of shareholders’ trust and value.

WNS provides Governance, Risk and Compliance services that enable clients to properly manage a diverse range of risks by incorporating frameworks within their business processes. As our clients’ businesses grow, we are able to scale the governance and compliance management programmes accordingly.

We take a strong analytics-driven approach to our engagements, and when combined with our consultative client-focussed way of working as well as our global delivery network, our clients are able to achieve more effective governance risk and compliance processes that allows them gain a winning advantage.

A US-based asset management company implements stricter corporate governance and better fraud detection

Case:

WNS identified companies in the client’s global equity portfolio with serious corporate governance concerns. ..

Related To: Governance Risk and Compliance Governance Consulting

A large media, entertainment and electronics conglomerate strengthens operational controls for greater SOX com..

Case:

WNS provided SOX compliance support for the company’s European operations, resulting in stronger operational c..

Related To: Governance Risk and Compliance Governance Consulting

A large US-based independent banking holding company streamlines processes; achieves 40% cost savings

Case:

WNS conducted transaction audits for the client’s mortgage portfolio, resulting in cost savings of up to 40%. ..

Related To: Governance Risk and Compliance Governance Consulting

The WNS Advantage

Combination of industry and functional expertise

We offer the right skilled resources to meet our clients specific compliance and risk management needs. Our experienced teams utilise a combination of analytics and technology to improve the efficiency and effectiveness of our clients’ individual governance, risk and compliance programmes. We know the specific pain-points areas of concern our clients face and have the ability to deploy domain experts in areas such as Solvency II, anti-money laundering as well as experts in SAS, SPSS and R to ensure the effectiveness of the solution.

Transparency

In order to ensure independence and to provide transparency to clients, governance, risk and compliance processes can be imbedded as part of the overall solution, but undertaken by dedicated individuals outside of the core operations. The dedicated staff will also work closely with the client’s risk management and audit teams to ensure independent reporting and compliance with the client’s risk management and audit policies.

Flexibility

We are flexible in the delivery of our governance, risk and compliance solution. We have the ability to scale our solution and delivery according to the specific requirements of our clients. Our special expert teams can be deployed at short notice and for temporary periods in order to meet any urgent regulatory compliance requirements.

WNS South Africa Advantage

Strong risk management and compliance expertise: WNS South Africa helps clients by sharing the business risks they are exposed to as well as ensure regulation compliance. We deploy a number of frameworks within our clients’ business processes to ensure adherence and manage a range of current as well as potential risks on the horizon.
Business process re-engineering: As business process experts, we identify, analyse and redesign our clients’ business process to achieve improvements in critical performance areas. We drive enhanced operational efficiency through process standardisation.
Analytics driven: As business process experts, we identify, analyse and redesign our clients’ business process to achieve improvements in critical performance areas. We drive enhanced operational efficiency through process standardisation.

" WNS has been a trusted partner for us beyond mere transactional BPO services. Over the years, WNS has helped us streamline processes and drive best practices across our F&A function. "

Louis Profumo

CFO, Church's Chicken

A ‘Leader’ in NelsonHall Mortgage/Loan BPO NEAT Rankings: Mortgage Loan Default Management - 2015

Services

Governance Consulting

A sensible way to effectively adopt an enterprise or operational risk management framework is to put a robust governance structure in place. A well-designed structure will enable a smoother implementation of the underlying framework, giving clear accountability and responsibility to the necessary stakeholders.

WNS’ corporate governance consulting enables clients to adapt to regulatory requirements as well as align to international best practices across a range of areas, including:

Enterprise risk management
Operational risk management
Business continuity management
Information security

Our service encompasses the following:

Diagnostic assessment to evaluate the current structure of organisation, nature of policies and processes vis-à-vis the regulatory compliance requirements and / or international best practices
Independent identification of key risks and controls based on the project scope and build a risk / control register
Design policies covering governance structure, underlying functions, roles and responsibilities of various stakeholders, monitoring and controlling factors such as limits as well as reports
Conduct workshops for risk identification and assessment across processes
Design and implement the monitoring and control framework, including management reporting, independent transaction audit and key metrics monitoring using analytics
Support deployment of third-party technology solutions to facilitate the governance and monitoring process

WNS engages with a diverse range of corporate institutions to design enterprise risk management frameworks the meets international best practices. Among these are a number of financial institutions who benefited from our corporate governance consulting services and support with monitoring and reporting requirements.

Business continuity and information security is an integral part of ensuring efficient day-to-day operations. We help our clients with their respective business continuity needs by designing policy and procedural framework that extends across their entire operations.

Risk Analytics Services

Being prepared for the unforeseeable by putting the necessary planning in place is a critical success factor for businesses. In order to make informed business decisions and navigate risks, operational information needs to be properly analysed.

Our risk analytics services looks at an organisation’s business and regulatory needs to identify undiscovered insights and management reporting by focussing on the following areas:

Credit risk modeling, including scorecard development and validation, estimation of risk parameters such as probability of default (PD), loss given default (LGD) and exposure at default (EAD) as well as economic capital modeling
Investment risk analytics, including valuation and pricing support, value-at-risk modeling, financial research and fraud detection as well as credit and equity research
Collection analytics, including design of collection scorecards, behavioral modeling and collection strategy
Fraud analytics to detect fraudulent insurance claims, identity frauds, fraud rings, credit card frauds, mortgage frauds as well as designing of predictive scorecards, based on trends and patterns
Operational loss modeling to predict likely operational losses based on assessment of likelihood and severity of operational losses

We have worked with a range of clients across multiple industries to provide risk management consulting services. Our experience includes working with some of the largest insurance companies in the world where we facilitated the detection of fraudulent claims, using statistical analysis and based on a predictive model. In addition, we helped a number of banks to design credit scorecards that facilitates better decision-making. Leading manufacturing companies enlist our services to help them predict the likelihood their customers and distributors will pay them, as well as designing supplementary collection models.

Our expert teams comprise of specialists in risk management, risk analytics, data mining as well is primary and secondary research.

Regulatory Compliance Services

A vital part of risk management services is regulatory compliance. There is an increased focus on risk management and compliance management by regulatory bodies in the wake of an uptick in under par corporate governance, fraud and unmet service levels. While regulatory compliance is most important for financial institutions due to the nature of the business, other non-financial organisations also need to ensure regulatory adherence.

Our compliance services not only ensure that strict regulatory compliance is adhered to, but also that minimal incremental costs are incurred. WNS has experience in operating under a diverse range of regulations, including:

Sarbanes Oxley Act compliance audit (SOX)
Solvency II
Basel II and III
Dodd-Frank Act
Country-specific regulations, including those prescribed by Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA), Office of Comptroller of Currency (OCC), Securities Exchange Commission (SEC), Australian Prudential Regulatory Authority (APRA) and so on

Our compliance services spans the entire value chain, including:

Data gap analysis, extraction and preparation
Workflow designing for monitoring and reporting
Generation of timely regulatory reports and management dashboards
Independent compliance audits
Training and knowledge-sharing on implications of regulatory changes
Maintenance of information repository for regulatory audit support

We have supported regulatory compliance requirements of leading financial institutions in areas as diverse as Solvency II, OCC, FCA, PRA, Basel II, FCRA, etc. In addition, we also work with large corporates on facilitating SOX compliance audit requirements through process documentation, independent control testing as well as training and knowledge-sharing.

Audit Services

The growing complexity in today’s business environment has evolved the internal auditors’ role significantly, but they remain an integral part of the business. With innovations in technology and improved analytical capabilities, organisations need to adopt technologies and techniques to improve their auditing effectiveness.

As part of our solution to delivery audit services, we provide a team of certified accountants, or equivalent, who work independently with the clients’ internal audit units to conduct transaction and process-level audits. Added to that, we also bring in a team of Certified Information Systems Auditors or equivalent, to facilitate audits on information security measures.

We know that business continuity planning is also commercially critical to any business and thus also conduct independent audits on workplace safety and infrastructure risks.

In addition, our audit team conducts thematic audits on areas such as:

Sales process effectiveness
Budgeting and management of information process
Treasury and foreign exchange management process
IP protection / infringement process
Data privacy / protection process
Contract compliance assessment

Clients that engage with us for our auditing services includes some of the leading financial institutions. We conduct transaction-level audits to ensure that their departments adhere to internal policies and regulatory compliance requirements. In addition, we independently audit every client process managed by us so that risks are minimised and that contractual obligations are met.