Strengths
- Technical infrastructure in place
- Experienced staff
- Industry knowledge on the business
Weaknesses
- Existing staff resistance against business growth and diversification into additional entity
- Lack of existing information sharing
- Legacy of the license received many years ago and a strong negative attitude against new and more complicated requirements, referring to the ‘good old times’ as an example
In such cases, Compliance Partners has enough potential to work independently without disturbing the operational staff with extra details.
Once the scope of the desired items for the new license was approved by the management, the Compliance Partners team developed the full license application package with supporting documents, based on the knowledge and own research of the client’s technical infrastructure and the vendors’ documentation. This was done with just a few short sessions held with the Compliance Partners team.
Eventually, the client received detailed documents for review only, and the management acquired an audit report on the shortcomings detected within the analysis of the operational entity and its processes. The gaps were highlighted to the management, along with the proposed steps to resolve these matters, in order to ensure sustainable growth of the group.
