Case Studies

CHALLENGE
A leading global investment bank sought to assess its levels of compliance with the CASS regulations and its capacity to provide adequate governance, centralised control and oversight, to address the requirements of the FSA's new regulations and its increased regulatory scrutiny.  

CROSSBRIDGE EXPERTISE
Extensive experience in development of operating models and in depth knowledge of the CASS regulations and operational processes.  Crossbridge consultants had a strong understanding of the bank's culture, processes and technology, which enabled them to successfully navigate across the asset classes and functions to embed regulatory change.  

CROSSBRIDGE DELIVERY
Crossbridge defined and implemented an operating model by identifying the key CASS risks and current state compliance issues, and developing a detailed roadmap for change and remediation that covered the bank's people, processes and technology.

Key Deliveries:
-Produced a detailed roadmap for implementation of the operating model, including defined roles and responsibilities
-Re-engineered and designed new  processes to remediate existing compliance issues
-Defined business and functional requirements to implement a centralised governance and reporting framework
-Provided solution designs and proof of concept deliveries to address the requirements of new FSA regulations on diversification and reporting
-Established a new centralised Client Assets & Money Control Function
-Implemented and embedded a control and assurance testing framework for CASS 

CROSSBRIDGE VALUE
Crossbridge's extensive experience in financial services and regulatory change enabled it to embed an effective operating model to deliver compliance with the CASS regulations, providing increased accountability and centralised control.

Key Value Indicators:
-Design and implementation of cross asset class processes to identify and protect client assets and money; remediation of 60+ compliance issues
-Embedded diversification, reporting, due diligence and documentation processes,  with clear lines of responsibility and accountability
-Centralised governance structure and Management Information to support the CASS  Operational Oversight Function (CF10a)
-Centralised operating model with increased control, transparency, accountability and  senior management oversight
-Increased CASS awareness and knowledge across the bank, through design and delivery of targeted training