Improving Regulatory Reporting Controls with Better Regulatory Compliance Consulting
A large financial institution engaged Oakleaf for regulatory compliance consulting to assist in the development and documentation of controls relating to a complex quarterly regulatory report that was part of the firm’s SEC reporting. We delivered regulatory compliance consulting services to our client in the form of Oakleaf-managed teams and client-managed supplemental talent support. We implemented a human capital strategy tailored to an assessment of skillset gaps and based on continuous conversations in collaboration with hiring managers to ensure that the right talent was available as the project moved through its lifecycle.
We deployed a five-person team that worked with the Client over several reporting cycles to improve controls and streamline execution, and ultimately support successful submission of the report. Oakleaf’s activities and deliverables featured data sourcing optimization through analysis and de-duplication of complex data queries and the development and documentation of controls related to data integration with upstream and downstream processes.
Oakleaf also ensured internal consistency within reports through validation and reconciliation and provided project management coordination of data efforts across disparate divisions within the firm. In collaboration with our Client, we streamlined and enabled timely ad-hoc analysis of credit and loan modification data during the reporting cycle.
- Successful delivery of 10-K and 10-Q supplemental report.
- Mitigation of control risks.
- Successfully passed internal and external audits of the developed processes.
- Accelerated execution of the process through coordination and optimization of work among various divisions in the firm.
- The success of the project was a factor in the Client’s decision to re-engage Oakleaf for further development of data aggregation, reconciliation, and controls related to additional business processes, including a large-scale loan modification program and a mortgage servicer measurement framework.
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We serve many of the top financial institutions, agencies and GSEs, banks and mortgage companies.
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