Remediation occurs in many different forms. Often a customer has been harmed either by your organization or another within your industry. Next a consent order drops or legislation becomes enacted and remediation must begin immediately to transform processes and make right by customers.
It’s an opportunity to fix inadvertent damage, but it can come with a hefty price tag and require a complicated process. We’ve supported many clients in your position and understand what it takes to navigate the complexities while quickly and thoroughly reaching a resolution.
From the start, our experienced leaders set a firm definition of done.
Then we draw a line around what we’re going to do, put together a team and go after it.
Along the way, our outside experience and perspective allows us to see across the entire program to make connections and uncover new challenges.
When the issue becomes resolved, we leave you with a sustainable, go forward solution.
A heightened regulatory environment means organizations face mission-critical business issues to solve. We have experience in building transformational programs and integrating compliance initiatives with process improvement. Past projects have involved:
- Consumer Financial Protection Bureau (CFPB)
- General Data Protection Regulation (GDPR)
- Payment Card Industry (PCI) Standards
- Attorney general (AG) settlements
- SOX Compliance
- Secretary of Commerce legislation
- Global Due Diligence (GDD)
- Class-action settlements
During financial remediation work, once a remediation strategy is set, we pick up the baton and carry it over the finish line. Our execution teams deliver on remediation plans, ensuring satisfaction from business stakeholders, external audit groups and regulators. Many projects involve shareholders, consumers, corporate entities, multiple vendors, military families, and the elderly, as well as employees. Our work in this area includes:
- Financial settlements
- Data privacy resolution
- Institutionalization of redesigned processes
- Organizational change management and communication
- Customers experience erroneous charge from bank.
- Checking accounts dip and cause bounced checks.
- Consumer Financial Protection Bureau (CFPB) issues enforcement action.
- Bank sets remediation strategy & begins conversations with CFPB.
- comes in to execute the strategy.
- Creates a definition of done & clear steps to get there.
- Forms talented project team with agility to do any necessary task.
- Leaves client
with a sustainable
- Customers made whole and satisfied.