One of the most experienced CREDIT RATING AGENCIES in India implemented Global Compliance Management Solution (GCMS) to reduce Regulatory Risks across it’s India Operations

CLIENT INTRODUCTION

• With 3 decades of experience in Indian market, our client is a part of Global Investors Service Company and an independent investment information and Credit Rating Agency in India
• Provide information and guidance to institutional and individual investors/creditors;
• Provide intermediaries with a tool to improve efficiency in the funds raising process
• Its wholly subsidiary, have 20+ years of experience, with pool of 700+ professionals, provides solution, analytics and digital platforms for risk management, market data, consulting and knowledge service grading and risk assessment services.

CLIENT’S CHALLENGES

• The complexity of business demands our client to be 100% compliant and publish a real time authentic compliance report at any given point in time
• Abiding to Central, State, Municipal, SEBI and RBI regulatory obligation is must for operating in highly organized and competitive business
• Constantly maintain high ethical standards, with sound governance practices. The Regulatory and internal policy required Board to review status of Compliance across laws & locations regularly
• Client needed Single sign off for all their application, including GCMS.

DECISION TO IMPLEMENT GCMS

• Being in highly Regulated Business, part of a Global entity and a listed entity; client had many compelling reasons to implement Regulatory Compliance Management
• The client had been evaluating solutions for more than 2 years, but the service providers weren’t able to tick all boxes (viz, Software functionalities, Real Time Updates, Easy of Use, Support Mechanism, IT & Data Security, etc) for them
• Even when the Business team finalised GCMS, it took them more than 12 months to get clearances from their Board, IT, Contract teams, etc.

LAWRBIT GCMS IMPLEMENTATION

Our Legal and Customer Success teams engaged with client’s functional Heads / experts across entities and locations to understand the operational process and workings of each entity, location & function.
The Project was divided in 4 stages:

• Phase – 1: Business Discovery using questionnaires and interviews
• Phase – 2: Identification of applicable laws and compliance by location
• Phase – 3: Identification of Responsibility and ownership matrix
• Phase – 4: Software customisation, user training and Go-Live

LIST OF KEY LAWS/REGULATIONS APPLICABLE ON THE CLIENT