Documentation & Compliance

Procedures describe the processes used to meet the requirements of the institution’s policies and standards Procedures establish accountability and responsibility, provide specific controls for risk management policy guidance, define expectations for work processes and products, and serve as training tools

ESP has extensive experience developing policies, procedures and workflows within the financial services industry. Our expertise covers front office, back office, risk and compliance, IT and data center documentation. We align with industry best practices in determining the type and level of documentation needed to meet our clients’ objectives while adhering to current regulatory requirements, e.g. FFIEC. When we complete the assignment, we leave our client with a roadmap for continued review, updates and communication.

ESP’s Best Practice Methodology for Documentation (CORE)

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  • Compile
    • Complete a document inventory
  • Organize
    • Assess/Preliminary Grade Documents
    • Identify gaps
    • Prioritize
    • Agree on content template
    • Develop task plan/timeline/status reporting for management sign off
  • Review & Remediate
    • Review each Document based on importance
    • Work with SME’s to update/write documents
  • Execute/Enhance
    • Submit all documents for sign off and iterate until complete
    • Develop repository & Enhance mgmt. processes to support procedures importance
    • Develop roadmap for continued review and updates

 

Case Study – Scenario One

  • Challenge: Our client needed to offshore IT system support but did not have current processes documented.
  • Solution: ESP developed effective, standard documentation sets in order to facilitate off-shoring IT system support. This 12 month and $20+ million program was brought in on-time and under budget. 

Case Study – Scenario Two

  • Challenge: Our client was preparing for a Federal Reserve examination and needed to assure policies and procedures for a major business unit were updated and cataloged.
  • Solution: ESP developed a repository for existing policies and procedures and managed the review and update of over 4000 documents.