Risk, Compliance, AML Guidance and Register Administration Service

Our Risk, Compliance, AML Guidance and Register Administration Service provides law firms with a cost-effective solution to outsource the management of the firm’s registers and guidance to the staff.

The service provides law firms and their staff with direct access to our compliance team, to provide case-level guidance and reporting, through which we will also manage and update the various compliance registers.

Our Compliance Services are provided by trained staff who will liaise with and speak to the compliance officers and staff directly providing guidance and support at both firm and case level. With our solutions, your firm has a compliance manager to assist and guide you on all compliance related matters and to monitor overall compliance and interact with the firm. We are not reliant on systems, people sit behind the work we do.

With pricing starting from £300 per month, this provides a cost-effective and essential solution for all law firms.

Our Risk, Compliance, AML Guidance and Register Administration Service provides a secure and cost-effective way of ensuring the ongoing obligations of the compliance officers are maintained at all times.

This is an essential service for regulatory officers (in particular the COLP and COFA) where regulation is not their main or only role.

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Find Out More

For more information about our Risk, Compliance,  AML Guidance and Register Administration Service, you can call us on 0203 911 9710 or you can email us at info@thestrategicpartner.co.uk. You can also download our Risk, Compliance & AML Guidance and Administration Brochure by clicking on the link below.

Risk, Compliance, AML Guidance and Register Administration – The Detail

Running and managing a compliant law firm is not just about implementing a set of policies and procedures, the obligations of a compliance officer stretch way beyond this as there is an ongoing responsibility to manage, maintain and monitor the application of the firm’s compliance strategy.

The Strategic Partner’s Risk, Compliance, AML Guidance and Register Administration Service is an outsource solution which provides staff in a law firm access to a compliance manager for guidance alongside, the active management of a firm’s registers which is a regulatory requirement.

This service provides a solution to firms enabling compliance officers and supervisors to focus on the other aspects of their role, safe in the knowledge that the day to day management of compliance is being taken care of for them.

The service has been designed to ensure firms are not just compliant from a policy, training, and risk assessment perspective but the day to day management of compliance is addressed.

This includes interaction with compliance officers and staff through collating and maintaining firm-wide registers, which are required as part of a compliant environment and we also report to the partners confirming activity in the month and addressing any issues that arise.

In addition to the general interaction, we review the data in the registers and produce a monthly compliance report for the compliance officers and partners and through doing so, provide them with ongoing comfort that compliance and risk are well managed across the firm.

The standard service includes:

  • Compliance Manager – Allocation of a compliance manager to work with your firm.
  • Bespoke Number – A bespoke compliance helpline for the staff of the firm.
  • Bespoke email address – Provision of a dedicated firm email address to maintain effective communication.
  • Notifications – Collation of all risk and compliance notifications, reviewing content and interacting with the staff and compliance officers as necessary.
  • Register Management – Updating the firm’s registers with information contained in the notification forms. This includes:
    • Checking each register against the notifications for accuracy.
    • Updating any missing notification or entries and liaising with the notifier, as necessary.
    • Moving closed notification forms from live into closed sections of the registers.

A full list of the registers we implement and maintain are contained within the brochure (click here)

  • Guidance – Providing front line guidance to staff as issues arise.
  • Investigation – Working with the compliance officer to investigate and conclude notification. Concluding or chasing the conclusion of investigations through direct interaction with the compliance officer or staff.
  • Undertakings – Maintaining an undertakings diary and liaising with the compliance officers and/or the staff members as needed.
  • Reporting – Monthly report to the partners on all regulatory issues including:
    • Overview of activity in registers
    • Advising on any issues or concerns from the notifications made or the information contained in the registers including trend analysis
    • Regulatory updates and information
    • Required actions and recommendations
  • Reminders – Reminders to staff who are not using reports and registers of the policies and securing their interaction.
  • General Interaction – Direct interaction as instructed by you with the staff.
  • Updates – Updates direct to staff on regulatory news and any changes to the firm’s policies and procedures.

This is an interactive service that ensures a firm and its compliance officers are always managing a compliant firm.

With pricing starting from £300 a month, this is a service that is cost-effective and provides immediate impact.

*although not essential, the Risk, Compliance, AML Guidance and Register Administration Service should be added as a complementary service to the firm’s Compliance Management Service.

Enquiries

For more information about our Risk, Compliance, AML Guidance and Register Administration Service, you can call us on 0203 911 9710 or you can email us at info@thestrategicpartner.co.uk.

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