Regulatory and compliance mandates are continually expanding in scope and complexity, and corporate enforcement actions are on the rise. While banks have received some of the largest penalties for compliance infractions, companies across all regulated industries are increasingly focused on risk management. While the financial costs associated with noncompliance can be significant — into the billions, in some instances – businesses also face reputational damage from compliance deficiencies.
With so much at stake, many companies are seeking regulatory and compliance solutions, including the use of objective third-party consultants to assist them in areas such as internal audit, anti-money laundering (AML) initiatives, Comprehensive Capital Analysis and Review (CCAR) requirements, and Contract Management for broader compliance management.
Robert Half Legal, a premier provider of legal consulting and staffing services, offers risk management and regulatory and compliance consulting solutions in partnership with Protiviti, also a Robert Half company. Protiviti is a global business consulting and internal audit firm composed of experts specializing in risk, advisory and transaction services.
Our approach to risk and compliance engagements
Robert Half Legal provides skilled legal professionals on a full-time, temporary or project basis to help companies and law firms optimize processes and mitigate risks and costs associated with compliance, AML and other regulatory matters. Robert Half Legal can manage each phase of your compliance project. Our capabilities include:
- Risk management — With billions of dollars in penalties at stake, plus the risk of reputation loss, we can help you move swiftly to prevent, react and respond to governmental investigations, enforcement actions, and risk exposures.
- Customized solutions — Our clients distinctly benefit from customized risk management and compliance consulting solutions, while also having access to our deep subject matter expertise and global professional staffing assets. Our globalized solutions, with sheer scale, are tailored to meet the needs of virtually any size company, in any industry, anywhere in the world.
- Effective partnering — Our consultants partner with management, board members and outside counsel to help organizations comply with regulatory requirements, to respond to non-compliance situations, and to improve processes around information systems supporting governance, risk and compliance.
- Secure project space — Robert Half Legal maintains scalable Centers of Excellence in major markets across North America. Our clients have access to secure, dedicated workspace, state-of-the-art workstations, leading edge technologies and on-site support.
- Broad coverage — Robert Half Legal offers specialized staffing and consulting services through more than 400 offices. Our highly trained, results-oriented professionals provide a unique perspective on a wide range of critical business issues for our clients worldwide.
Robert Half Legal’s regulatory and compliance services
Our regulatory and compliance services fall under three core areas: internal audit and advisory, bank regulation compliance, and transformation/litigation services. The following is a detailed list of services in these core areas.
Internal audit and advisory
- Financial, treasury, IT controls
- CCAR audits: operational, market risk stress-testing assessments
- Consumer mortgage, retail and commercial lending
- Anti-bribery corruption audits, process mapping
- AML compliance audit
- Model risk validation, analytics
- Data privacy, security and breaches
- Electronic data/records management, (electronic and paper documents)
- IT risk and compliance
- Corporate/Financial investigations [e.g., Securities and Exchange Commission, Department of Justice, Consumer Financial Protection Bureau (CFPB), Foreign Corrupt Practices Act]
- Regulatory issues and actions, government mandates
- Electronic data collection, processing and hosting capabilities
Bank regulation compliance
- Pre-exam regulation compliance testing
- Post-exam process and control remediation
- New bank regulation implementation support
- Control self-assessment testing for bank regulation compliance, remediation
- Dodd-Frank, Bank Secrecy Act (BSA), Sarbanes-Oxley Act compliance, documentation and remediation
- Customer Identification Program (CIP), AML/BSA/US Patriot Act compliance
- CFPB (non-financial institutions)
- Enhanced Prudential Standards (EPS) (part of Dodd-Frank)
- Mortgage foreclosure review
- AML, BSA compliance testing and remediation
- Office of the Comptroller of the Currency (OCC) consent look-back
- Basel Accord (review and remediation of processes and reporting)
- Contract Management – the collection, review, and disposition of trading documentation impacted by regulation.
- Business transformation/integration [enterprise resource planning (ERP)/payroll/operations]
- Process optimization
- Information governance and records management
- Litigation preparedness and compliance with regulatory measures
- Attorney document review for large class action (multidistrict litigation) and other document-intensive discovery matters
- Managed document review (project coordination to “all in”)
- Predictive coding
- Technology assisted review/intelligent preview
- Mergers and acquisitions/consolidation
- Commercial litigation
- Contract management, lease administration
- Labor and employment
- Intellectual property litigation
Case study: regulatory and compliance engagement
A large international bank in Delaware needed assistance with remediation and redaction of personally identifiable information (PII) on mortgage files, and the creation of foreclosure summaries based upon the findings. The bank risked incurring significant noncompliance fees and sanctions had it not brought in a team from Robert Half Legal to assist with this time-sensitive project.
The bank needed to have approximately 500,000 mortgage files reviewed within a 10-week time frame in preparation for foreclosure filings. If the project had not been completed on time, the bank would have been noncompliant with government regulations and thus incurred sanctions from the federal agency.
The project involved the review of mortgage documents and redactions of PII included therein, and the use of technology to cull the document population down to a responsive data set. The client also needed access to consultants with proven expertise who could help oversee quality control and provide metrics reporting.
Robert Half Legal’s solution
Robert Half Legal assembled a project team consisting of seven licensed attorneys, 47 legal clerks and a management consultant. The team utilized Robert Half Legal’s dedicated project space in the Washington, D.C., area.
Robert Half Legal’s project team established quality control processes and provided consulting expertise to improve workflow design and efficiencies.
The regulatory and compliance work performed by the Robert Half Legal team allowed the client to deliver an improved margin of error rate of less than 2 percent. We saved the client the substantial time and resource commitment required for rework and greatly reduced the client’s risk profile related to potential exposure of PII in the public domain.
By working with Robert Half Legal’s oversight team and utilizing our technology solutions, the client was able to increase efficiencies and lower its costs, potentially saving millions of dollars in risk exposure.
Contact Robert Half Legal
Learn how Robert Half Legal can work with you to deliver customized regulatory and compliance solutions by contacting us at 1-866-894-5598 or locating the nearest Robert Half Legal office.