Risk & Compliance Management
Outsourced, ongoing risk & compliance managment for CLC Practices.
Risk & Compliance Management provides your firm with an outsourced compliance team, delivering structured register administration, regulatory guidance and monthly reporting to support your HOLP, HOFA and MLRO. Designed to ensure ongoing oversight, documented monitoring and clear evidence of effective compliance management.
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Outsource Compliance Solutions for CLC Practices
Our Regulation and Compliance Outsource Guidance and Support Service provides CLC regulated practices with a cost-effective outsourced solution which sees the compliance managers of RACO take on the day-to-day guidance and support expected to be provided by Heads of Legal Practice (HOLPs), Heads of Finance and Administration (HOFAs), and Money Laundering Reporting Officers (MLROs).
This addition to the Regulation and Compliance Service, including Risk Management and AML Risk, relieves the Compliance Officers from most of the day-to-day burden of keeping up with regulatory requirements and ensures staff have access to compliance and risk advice when they need it.
When adding this service, each practice is allocated a Compliance Team, led by a trained compliance Manager, to assist and guide all practice members on compliance-related matters and monitor overall compliance.
With pricing starting at £300 per month, we offer affordable, scalable solutions alongside the main compliance service, ensuring compliance officers’ ongoing obligations are met at all times. For many practices, this is less than the hourly rate charged by their senior staff.
Our services are essential to support your HOLP and HOFA, particularly where these are not their only or main roles.
Enquiries
Enquire Today
For more information about our Outsourced Compliance Solutions, you can call or email us via the details below:
0203 985 8550
info@regulationandcomplianceoffice.co.uk
Outsourced Guidance fo CLC Practices:
The Key Elements
- Compliance Manager: Allocation of a Compliance Manager to work with your practice. The manager is supported by a team which works together to provide the service.
- Bespoke Number: A bespoke compliance helpline for the staff of the practice.
- Bespoke email address: Provision of a dedicated practice 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.
- Risk and Breach Register Management:
- Updating the practice’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.
- 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.
- Reporting: Monthly report to the Partners/Managers 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
- Guidance: Providing front line guidance to staff as issues arise.
- 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 practice’s policies and procedures.
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Consultancy Services for CLC Practices
We provide outsourced solutions in a range of areas which include:
- CQS application, maintenance, and re-accreditation
- CLC authorisation application, maintenance, and compliance support
- Risk, Regulation and Compliance Service, including AML
- Risk, Compliance & AML Guidance and Administration Service
- Risk & Supervision Assessment Service
- Office and Accounts Manuals
- Practice management
- Data Protection and GDPR
- Transparency and Service Information requirements
- Training and mentoring
- Professional Indemnity Insurance Management
- HR support and guidance
- Closing a practice
These solutions can be taken individually or combined to meet the needs of any CLC regulated practice. We work hard to provide optimum solutions to conveyancing practices at cost-effective pricing.
Explore Our CLC Compliance Services
For detailed information on our compliance framework services, AML support, risk management solutions and ongoing compliance management for CLC regulated practices, please call us on 0203 985 8550, complete the online enquiry form below, or email us info@regulationandcomplianceoffice.co.uk