Compliance Risk Assessment Services Are Essential for Financial Service Firms

Financial Service Firms are mandated by the SEC to conduct compliance risk assessments of their company and its employees. An effort is made to find out the risk of the organization against direct and indirect legal liability as well as C&E; reputation damage. The assessment stands to help the company control their risk by implementing, developing and improving the C& E program.

What Is Compliance Risk Assessment?

Although, the risk to a company includes operational and financial issues, the main idea of doing compliance risk assessments is to follow the guidelines set forth by the SEC in the form of laws and regulations. An organization is able to analyze the outcome of risk to their company, place priority on each risk, and manage them adequately. A compliance risk assessment helps a company to create different options and further actions in an attempt to reduce any threat that arises as a result of those risks.

Formulating an effective compliance risk assessments program will help to shape an organization’s efforts to limit their risks. Since there are not enough employees to staff the compliance risk assessments program for many companies, they are hiring outside help to have a dedicated program that minimizes their risks.


There are many excellent features included in a Compliance Risk Assessments program, but there are a few that  stand out more than others and these include the following:

  • Examine the organization’s ability to plan, prevent and alleviate each risk factor
  • Consider the current risks, but look into future risks
  • Review of internal documents and industry information that correlate with them
  • Involve all staff from all levels of the organization in evaluating potential risks
  • Examine the impact of the risk areas and their possibility of reoccurring
  • Put the assessment outcome in writing and include the action that is associated with it
  • Do not be tempted to ignore the risks by trying to reduce costs
  • Measuring the knowledge of your employees is also key

Financial service firms are kept busy daily and having compliance risk assessments professional advising you what to do in order to maintain a solid organization will ensure your longevity in business.

A CRA professional will do an internal audit first to support the company’s focal point and to address the areas of most significance to the company. Designing a program that tests the best suited internal controls is one of the essential areas of expertise of a Compliance Risk Assessments company.

You need a service that can:

  • Provide Due Diligence Reviews and Annual Compliance Reviews
  • Form ADV services
  • Branch Office Audits
  • Form D filings
  • Regulatory Risk Assessment Reviews
  • Conduct special investigations and mandatory reviews
  • Able to interface with Federal and State Authorities

Why You Should Obtain Compliance Risk Assessment Services TODAY

Financial service firms know the importance of decreasing the risks associated with non-compliance. By using a Compliance Risk Assessments for financial service firms, you save your company considerable time and efforts involved in maintaining a solid risk management system.

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