Financial Services
Trusted advice and services from experts to protect and grow your Financial Services organisation.
Quick Links to Our Financial Services
Compliance and Risk Health Check
Compliance and risk management is complex and ever-changing.
We can help you navigate the regulatory landscape, identify gaps in compliance, and build a plan to mitigate risk. We offer a range of services that will allow you to focus on your core business while we manage all aspects of compliance for you.
Our regulatory health check will provide an objective assessment of your current state and create an actionable roadmap for improvement.
Licence Application
Applying for a financial services license can be complicated and time-consuming.
We can work with you to ensure a smooth and positive licensing application. Our team of experts have a deep understanding of IOM FSA licensing policy and will guide you through every step of the process, from start to finish.
We can draft application documents, file them at the appropriate time, and respond to any objections or requests for information that may arise during examination by regulators. You’ll have peace of mind knowing that we are on your side every step of the way.
Policies and Procedures
Compliance documentation and risk frameworks are time consuming to develop and difficult to maintain.
Wouldn’t it be great if an expert could develop robust risk frameworks and compliance procedures you could simply pull out when needed?
Our team of experts can work with you to create bespoke compliance documentation based on an analysis of existing documents and interviews with key stakeholders.
We can also identify risks specific to your business, then develop and embed a compliant risk framework and stress test controls.
GDPR and Data Protection Support
Navigating data protection laws can be daunting. At Impact Professional Services we specialise in helping Isle of Man businesses develop robust data protection frameworks.
Our approachable team can guide you through creating comprehensive registers, policies, and procedures tailored to your needs.
Let us simplify GDPR compliance for you, so you can focus on what you do best – growing your business with confidence and peace of mind.
Risk Frameworks
We can help you manage your most important risks more effectively than ever before by providing a structured way to think about what matters most to you – both now and into the future – so that you can make better decisions with confidence.
As leading experts in risk management, our experienced consultants will identify risks specific to your business, then develop and embed a compliant risk framework and stress test controls.
We’ll provide recommendations for any updates needed to avoid gaps or overlaps in coverage going forward.
Outsourcing
Keeping up with compliance regulations is a full-time job that requires expert knowledge and considerable resources.
Short term or long term compliance outsourcing is a cost effective and efficient alternative to an expensive, in-house team.
Start up? SME? Larger organisation? Impact can take care of all your regulatory paperwork so you can focus on growing your business and enjoy peace of mind.
We are also able to fulfil key regulatory roles in the Isle of Man*, such as Compliance Officer, Money Laundering Reporting Officer or Data Protection Officer positions.
*subject to the necessary regulatory consent
Projects
Look no further for specialist support in areas such as GDPR, FATCA or CRS. We can assist in a capacity which works for your business, whether for the short or long term.
Independent Monitoring and Oversight
The world is changing fast, and the risks companies face are growing in complexity. Proactive Boards seek assurance and support from independent experts to ensure that the organisation is fully protected.
Impact Professional Services has a wealth of experience in supporting Boards as well as creating appropriate infrastructures to allow Boards to gain ongoing assurance regarding their company’s compliance performance.
Some of the services we offer in this area:
- Corporate Governance – We can provide solutions to practical and commercially sensitive matters by translating the regulations into governance and guidance for each area of your business.
- Ongoing Guidance – provision of ongoing support through training and annual health checks aligned to your Board’s needs.
- Effective internal Audits – regular internal audits and reviews of existing methodology in line with the corporate goals of your business.
- Change and Crisis Management – Given the regulatory environment, entities have an increasing need to effectively manage the strains and stresses during times of material operational change or a crisis in the business. We have numerous examples where we have adopted a practical application to managing projects that assist the Board but at the same time allowing the business to continue to flourish.
- Non-Executive Directors – it is becoming increasingly important for Boards to appoint compliance focussed directors able to evidence that decisions take into account compliance considerations and associated risks. We can provide Non-Executive Directors subject to regulatory approval
Compliance Support
In today’s complex business environment, it’s hard to know if you are delivering the right level of protection.
You can rely on us for a wide range of services designed to help you meet your legal obligations, manage risk and improve controls across all areas of compliance.
Our consultants can assist across a wide variety of scopes including:
• Annual effectiveness Assessments
• Regulatory reporting
• Providing Board assurance and support ie effective internal audits, corporate governance, ongoing guidance, change and crisis management.
We provide practical advice that is tailored to the needs of our clients – whether you are a large multi-national organisation or a small private businesses.
