Follow The Yellow Brick Road:
A Pathway to Successful Remediation
"Toto, I've a feeling we're not in Kansas anymore."
This famous Wizard of Oz quote sums up the overwhelming feeling experienced by anyone facing a financial crime remediation programme. And while many may feel that (to misquote Dorothy slightly) “there is no place like BAU”, a calm and collected approach is the best mindset to see any compliance manager through a remediation journey.
A pragmatic perspective, a detailed plan to tackle common issues upfront, and a robust communication and governance structure are key to ensuring remediation programmes are delivered on schedule and within budget whilst protecting your relationship with the ‘Wicked Witch of the West’ (aka your local regulator).
FINTRAIL (call us Glinda!) has produced this handy guide documenting the key steps needed in approaching any remediation programme.
Whilst we can’t guarantee it will go completely smoothly and there will be no bumps in the road, we hope that this will give you some insight into the key considerations and pitfalls to watch out for.