3 Main Reasons to Outsource the Compliance Function in Your Company
1. Share Best Practices of the Top Organizations in the Asia Pacific
All businesses face increasing compliance requirements, both in terms of scale and complexity. Financial services and fintech companies are most impacted as the nature of the business often involves cross border rules, requirements, drawing on multiple relevant local laws and policies. Compliance, particularly regulatory compliance, should therefore be seen as a core value of an organisation. However, an in-house compliance department is expensive to recruit, retain and retrain.
Outsourcing the compliance department within an organization makes a lot of professional and economic sense, relying on a professional firm with the proper focus, continuous exposure and training and best-in-class standards and practices, which simply cannot be built up in-house. The best companies always want to ensure that their own internal policies and framework are being upheld to the same, effective standards as done by their peers.
2. Enjoy the full expertise of a Compliance Department
Compliance is both a personnel and infrastructure investment with new regulatory environments, increasing labour costs and evolving technologies weighing on management decisions how to effectively meet their compliance requirements while managing costs. The best compliance departments are seldom singular operating units with a Chief Compliance Officer often working closely with the Chief Financial Officer, Chief Operating Officer and Chief Technology Officer. With a proper outsourcing service, enjoy the benefits of multi-faceted perspectives for a holistic solution without the human resourcing issues.
3. All the Benefits, at a Franction of the Cost
With increased regulation and complex policies to navigate through, compliance is always going to be increasing in both costs as well as the need for updated and on-time expertise. The outsourcing of the compliance function allows the same, if not better, level of expert support at a much lower cost point thanks to the sharing of resources.
Why Alder Compliance?
Alder’s principles and partners have a combined 50 years+ of regulatory compliance and risk management experience, working with MNC’s and listed companies around the Asia Pacific. We offer unique perspectives that draws on our experiences in regulations, corporate governance, audit, risk management, legal, corporate secretarial and RegTech fields.
Have Alder support you in all facets of your compliance. You can choose to work in tandem with us, together with your internal compliance team to enjoy both savings as well as control:
- Policy review and updates
- Regulatory timeline calendaring and monitoring
- Regulatory report preparation and submissions
- Internal compliance review
- Named compliance officer
- Training & Updates
Through expertise sharing, our clients typically get the level of support and advice that would have previously not been available at the same budget.
Cost Efficient, Fast and On-Point Compliance Expertise
At Alder, all of us make the active choice to practice what we preach and clients can expect a team that is understanding of their needs, proactive and responsive.
We hold ourselves to the highest standards of ethics, accountability and integrity.