With regulatory aggressiveness at historically high levels. Financial institutions must rethink how they thread the compliance needle and reshape the endless regulatory noise into coherent action that promotes dynamic and impactful risk management processes. At Compliance Risk Concepts, we know that your business doesn’t benefit from compliance advice that’s academic or theoretical. Unlike traditional compliance consultants, CRC’s principal advisors all have deep front-office capital markets roots that consistently guide the solutions they prescribe.

The markets are risky enough, let CRC manage your regulatory risk. Contact us for more information on how CRC can help lower your cost of compliance.

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As the second quarter of 2017 draws to a close we’ve put graduations behind us and for some of us, we eagerly await the start of summer camp, others plan day trips to the beach (raise your hand if you are going to the Jersey shore), invite friends for the inevitable BBQs that, for some, may result in burnt veggies and burgers… don’t tell my husband I said that.

Amidst the start of our summer fun let’s not forget our federal filing obligations due in the third quarter (sorry to quash your summer dreams). The sooner you start gathering the data required for these filings the easier it will be for you when the filings are due.

Download Summer Fun and Q3 Federal Filing Requirements Guide

For guidelines on the 2017 Q3 federal filing requirements download Lilian Colpas' Summer Fun and Q3 Federal Filings for Investment Advisers:

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ABOUT LILIAN COLPAS
Lilian Colpas is an accomplished compliance professional with over 12 years of global compliance experience. Lilian provides consulting services to SEC and state-registered investment advisers and conducts AML independent reviews for broker/dealers. Previously, Lilian held roles as a compliance officer for Davidson Kempner, Harding Loevner and AIG Global Investments (now PineBridge).

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It’s hard to believe that almost four (4) years ago, my partners and I developed the strategy and business plan that would ultimately lead to the launch of Compliance Risk Concepts (“CRC”), a compliance professional services organization, headquartered in New York City.

In the spirit of candor and full transparency, I didn’t wake up one morning with an epiphany, deciding I wanted to become an entrepreneur. Quite truthfully, I had been noodling on the idea of launching what eventually became CRC, five (5) years prior to it coming to fruition. This idea came from a very organic and natural place. As a former Chief Compliance Officer (“CCO”), I had been a “buyer” of professional services for a good portion of my 20 year “in-house” career. During this time, I watched closely - quickly learning what was truly wrong with the delivery model being offered by most consulting firms, whether they were Tier 1, Tier 2 or lower down the food chain.

So, what was wrong? In my personal experience, the problem began with the transparency of the delivery model employed by professional services firms. I don’t believe my findings were unique – and I would bet most people reading this article who have been “buyers” of professional services would concur their experiences were similar to mine. The lack of transparency I am referencing is embedded in the “sales model” of these organizations. When I was seeking an external provider to assist in a project, I often found that the impressive senior partner with the most relevant experience would be the individual pitching me on their firm’s capabilities and expertise specific to my need. The conversation would occur over a nice lunch or dinner - and I would walk away with my ego feeling stroked with a full stomach. Once I found the firm I believed would be the “best fit” for my project, the fun began…

Shortly after the project launched, I noticed something was amiss. The senior partner that I bonded with, (you know - the one that sold me on his / her firm’s capabilities and bought me a great meal) quickly disappeared into thin air and was replaced by a team of individuals with 2-3 years of consulting experience, straight out of college who had never walked a day in my shoes, did not understand the complexity of the businesses I was supporting, nor had not a clue in terms of how to execute against / mitigate the risk I was seeking to address. I felt as if I was paying an exorbitant price to train people how to do their jobs – with not much to show at the end of the day except some fancy PowerPoint presentations and an acknowledgement of the risk I already knew I had.

Based on this common theme, the decision to launch CRC ( in what I would call a highly commoditized space), came from a genuine desire to distinguish ourselves from the pack through the quality of services being provided in the regulatory compliance vertical. How were we going to achieve this? Quite simply, as we’ve grown as an organization over the last 3 ½ years, we had stayed committed and true to our operating model. We don’t hire any professional consultants. We only retain former CCOs and Senior Level Compliance Officers. The average tenure of our 15+ team members averages from 15-30 years in the financial services industry. We’ve all been in our clients’ shoes and have been in the “hot seat”. We are a “plug and play” provider that truly gets it. This truly resonates with our clients.

Equally (if not more important), we are a boutique organization employing a services model that is predicated on strong execution. We are not a “check the box” provider that merely acknowledges the existence of risk. If we are not solutions oriented thought leaders that can help our clients execute against and mitigate their discrete compliance related risks – we aren’t doing our jobs. Whether we are being retained as a full outsourced compliance provider or to undertake a discrete review of a certain aspect of a client’s business – we bring our “A” game and “A” team every day.

In closing, the best evidence of our model truly working is the satisfaction demonstrated by our clients through their loyalty and willingness to help tell our story when they encounter others in need of compliance professional services. This, in and of itself is the biggest reward that has come out of CRC - and something we are all extremely proud and excited to be a part of as we continue our mission and journey as an organization.

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Compliance Risk Concepts is honored to be recognized by Enterprise Services Outlook (ES Outlook) as one of the top 25 Most Recommended Compliance Services Providers of 2016.

"Given that the market is swarming with compliance service providers, picking a particular agency is often a daunting exercise. ...the editorial team at ES Outlook has critically evaluated a slew of service providers based on their domain expertise," ES Outlook explains in 25 Most Recommended Compliance Services Providers 2016.

"CRC is one of these organizations, that have been able to deliver phenomenal results year-after-year and have already positioned themselves as the leading market players."

About ES Outlook

ES Outlook is a print magazine which provides a platform to thinkers, practitioners, strategists and visionaries in the Enterprise Services landscape.

The ES Outlook platform is uniquely positioned to let upcoming and promising enterprise services vendors showcase their innovative services. Sourcing professionals working for US corporations are in search for a one-stop resource that will help them keep track of new innovative offerings from service providers. Enterprise Services Outlook provides deeper information about outsourcing companies, makes available practical experiences and advice from their peers working in other reputed companies in the U.S. who have similar problems and keeps them abreast with important news, analysis and thought leadership in the services arena. Enterprise Services Outlook is that source which provides value to senior sourcing executives that shelf life of the magazine is forever.

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