Enterprise Regulatory Compliance

Management Framework
Banking and Financial Services

www.tcs.com
Amid an ever-evolving regulatory landscape, governance, risk, and compliance (GRC) management
continues to remain a focus area for financial firms. Since 2009, instances of noncompliance have been
dealt with utmost strictness, with penalties and fines amounting to around $300bn. To ensure adherence
to increasingly stringent rules imposed across multiple jurisdictions, banks and financial services
companies need to continually calibrate their compliance management function.

Tata Consultancy Services’ (TCS’) Enterprise Regulatory Compliance Management Framework fosters a
secure and structured integration of the GRC value chain, in alignment with the strategic and tactical
functions of a financial enterprise. We help organizations track relevant regulations, assess their impact
and evaluate related system-level changes, digitize and automate compliance workflows, and manage
examinations and audits.

Overview
As regulators and investors demand robust management of n Devise an optimal approach (using simulation and analytics
capital and risks, Chief Compliance Officers (CCOs) of global techniques) to achieve comprehensive compliance
financial firms often face some pressing questions, such as: n Manage remediation efforts through the GRC portfolio
n Is their organization fully compliant; can that be effectively By empowering banks to assess the impact of regulatory changes
demonstrated to regulators? on financial performance and business reputation, we help them
n For areas where regulatory requirements haven’t been met, ensure proactive regulatory compliance. TCS’ framework also
are there clearly defined plans to achieve compliance? enables effective management of internal and external audits,
n How will regulatory changes impact their compliance through robust planning and comprehensive documentation,
ecosystem? as well as real-time coordination among stakeholders.

These aspects can be best addressed with a comprehensive

compliance management framework. However, banks today lack Our Solution
a truly consolidated view of their GRC portfolio across
TCS’ Enterprise Regulatory Compliance Management Framework
geographically-spread business units. In most organizations,
helps financial firms ingest circulars, consent orders, rules, and
various departments use in-house GRC tools, resulting in
policy directives relating to more than 150 regulators worldwide.
fragmented implementation. Exacerbating this problem is the
This in turn helps identify the required process- and system-level
extensive manual intervention involved in compliance programs,
changes. In addition to facilitating the management of new
as workflows and tracking and control mechanisms are often not
regulations, it also supports M&A activity by helping firms
(or at times, only partially) automated. Banks need real-time
evaluate the impact of new assets in terms of inherent risks and
alerts and status reports to proactively monitor the impact of
jurisdictional requirements (in case of cross-region M&A). Armed
potential changes to their compliance ecosystem.
with this information, companies can assess the viability of using
TCS’ Enterprise Regulatory Compliance Management Framework existing compliance management systems.
helps financial firms:
Salient features include:
n Identify triggers that can affect the compliance ecosystem
n Portfolio creation and prioritization: Creates portfolios of
n Assess the enterprise-wide impact covering people, process, compliance projects according to work streams, and prioritizes
and technology them based on cost-benefit analysis, regulatory timelines,
and underlying risks.

Benefits

The framework helps financial firms reap the following benefits:

Reduced compliance costs: Leverage Superior risk management: Gain real-time

advanced data ingestion and analytics tools, visibility into your GRC portfolio through a
as well as automated workflows, to bring down unified snapshot of various ongoing
your compliance costs by 20 to 25 percent. compliance programs across the organization,
and take proactive steps to mitigate any risks,
thereby averting regulator and investor
backlash.
 An Overview of TCS’ Enterprise Regulatory Compliance Management Framework

Key elements Next-gen compliance architecture

Triggers

Dimensions
Tagging How do we manage What is the status of
Change
compliance costs? Capture our key controls?
Value Chain

Various events Information Proprietary Various

that impact to identify, techniques used elements of
the regulatory manage, and to map the the regulatory How do we manage Strategic Program What is the status of
environment report triggers information in compliance compliance costs? Planning Execution our key controls?
are identified held throughout the various value chain
the organization dimensions addressed
| Scenario using a through the How do we integrate
What is the status of
planning standardized three key compliance initiatives with
compliance projects?
other corporate projects?
techniques used value chain modules
to simulate the
trigger’s impact

Modularity

Modular structure helps ensure comprehensive,

on-time compliance

Compliance management: Manages planning, scheduling,

n
and monitoring of compliance projects; ensures stakeholder
The TCS Advantage
buy-ins; defines methodology for compliance maturity;
We offer a differentiated experience owing to our:
and conducts periodic assessments.
n Modular architecture based framework: Backed by an end-
n Issue management: Defines and tags issues, formulates
to-end compliance management architecture, TCS’ framework
action plans, assigns responsibilities, and monitors status
can be easily integrated with your existing enterprise systems
through metrics and dashboards.
to ensure business continuity.
n Workflow and documentation: Automates workflows for
n Configurable and customizable solution: This cost-effective,
better management of approvals, internal controls,
reusable, easy-to-deploy framework can be tailored to your
notifications,
unique operational and technological environment, thereby
and escalations; ensures version control and indexing of
maximizing the return on investments.
documents; manages the policy lifecycle – creation, review,
change, mapping, and archival. n Turnkey assets: TCS’ ready-to-use proprietary tools and
accelerators help you ensure structured change management
n Risk mitigation: Assesses inherent and residual compliance
and real-time reporting for your GRC function.
risks, and manages related documentation, workflow,
and reporting. n Proven track record: TCS has a pool of domain consultants
and technology specialists who have successfully anchored
strategic GRC transformation programs for several global
financial firms. Our subject matter experts work closely with
clients’ business teams to study the impact of evolving
regulations and devise best-fit remedial approaches to ensure
on-time compliance.

Increased coordination: Facilitate enhanced

coordination among various departments such
as legal, audit, information security, and
operational risk, to pave the way for informed
and quicker decision making.
Awards & Recognition

2016

To know more
Visit TCS’ Banking and Financial Services unit page on tcs.com
Email: bfs.marketing@tcs.com
Blog: Drive Governance

About Tata Consultancy Services Ltd (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that
delivers real results to global business, ensuring a level of certainty no other firm can match.
TCS offers a consulting-led, integrated portfolio of IT and IT-enabled infrastructure, engineering
and assurance services. This is delivered through its unique Global Network Delivery ModelTM,
recognized as the benchmark of excellence in software development. A part of the Tata Group,
India’s largest industrial conglomerate, TCS has a global footprint and is listed on the National
Stock Exchange and Bombay Stock Exchange in India.

For more information, visit us at www.tcs.com

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