Regulatory change

We live in an increasingly regulated world, where most business sectors face an array of standards and requirements set by UK, European and International authorities. New regulatory requirements often have a broad and profound impact on companies and their relationships with their customers. As a result, regulatory change programmes are increasingly prominent in business plans and companies face a growing challenge of managing their impact in terms of priorities, investment, resources and consequences.

Working with our clients and their specialist advisors, Project One has proved pivotal in the successful management and delivery of many regulatory and compliance driven programmes. Examples include Basel II, International Accounting Standards, financial control frameworks, price review submissions, regulatory reporting, mortgage and general insurance compliance. 

 

Utilising our experience and know-how, we focus on the things that are particularly critical to success. For example:

 

  • Engaging the leadership team to establish the scale, priorities and implications of new regulatory requirements
  • Clarifying the potential risks, opportunities and associated benefits for the business
  • Managing the business change to achieve compliance, invariably encompassing many areas across the business
  • Building a strong working relationship with the regulator to ensure expectations are understood and met
  • Dealing with the ambiguity that often comes hand-in-hand with regulatory change programmes
  • Managing the delivery of detailed regulatory documentation, ensuring it is comprehensive, consistent and above all correct
  • No matter what, keeping the programme under control and focused on delivering on time and to a high standard

 

 

The timescales in regulatory programmes can be extremely tight and there is little margin for error. This is the sort of situation that Project One consultants thrive on.

 

"Project One brought clarity and shape to the programme and helped us communicate with the Executive team just when we needed it. They drove the waiver application to successful conclusion and helped us transition to business as usual.

 

The team were experienced, energetic and enthusiastic, and had our best interests at the centre of everything they did."

 

Basel II Programme Director