Through the findings of a recent Financial Conduct Authority audit, we’ve extracted three key opportunities for firms to assess and enhance their Senior Managers and Certification Regime (SMCR) compliance strategies—all commonly anchored in the role of people.
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Corporate-wide Cost Reduction Should Be Thoughtful and Systematic
Following a major divestiture, a large financial services company and leading provider of employee-sponsored savings plans and life insurance products realized a need to reduce the costs of its corporate service functions by 25%. North Highland responded with a cost reduction initiative to carefully identify and evaluate short- and long-term expenses, resources, business processes, and service levels. This effort delivered insights that led to thoughtful expense and headcount reductions, saving more than over $29M annually.
Leading an Issue-Free Day One for a Major Divestiture
A world leader in consumer transaction technology was going through a business reinvention designed to transform the organization from a hardware manufacturer to a provider of software solutions enabled by hardware.
Navigating Disruptive Change for a Large Mortgage Insurer
By focusing efforts on a few critical workstreams, our client successfully navigated a disruptive change, repositioning themselves for a profitable future in the mortgage insurance business
New Product Development Redefined
Under North Highland’s leadership, one of the world’s largest banks now has a New Product Development (NPD) process that brings products to market faster and boosted the bank’s competitive edge.
Default Mortgage Servicing to Government Standards
Tough – and sometimes conflicting – regulations that followed the US economic recession created a chaotic environment for financial institutions. A team of more than 100 North Highland experts in multiple relevant areas helped this financial services provider revamp its default mortgage servicing program, avert $10B+ in penalties, recoup $60M+ in government subsidies, and begin to reverse considerable damage to its reputation.
Global Financial Services Provider Creates Scalable Solution for Dodd-Frank Compliance
One of the largest financial services providers in the world was faced with a need to engineer and implement a scalable and practical solution for Swap Data Reporting and Mandatory Clearing regulations specified in Dodd-Frank. Completed in just 10 months, North Highland's implementation helped the firm meet initial regulatory deadlines, avoid non-compliance penalties, and reduce costs associated with a global roll-out. Additionally, North Highland helped the firm drive industry discussions on critical issues related to Dodd-Frank, emphasizing the firm’s leadership and giving it a competitive edge over its peers.
Optimizing Your Customer Experience-Focused Organization
We don’t believe you need to be further convinced that CX is important. We think you need a practical guide for competing and thriving in the Experience Economy, where nothing matters more than the experience you offer.
Driving Client Loyalty with Modern Data Methodology
Credit card rewards can help financial services companies provide incentives to customers for repeat business as part of their loyalty program.