Streamlining CASS Compliance: Practical Tips and Key Takeaways
Time may be short but you should never skimp on your CASS Audit.
Download our infographic to learn how to Control CASS Compliance.
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Rehearse for Regulator Scrutiny: Prepare for regulatory scrutiny by running private mock FCA interviews with key personnel, encouraging candid Q&A sessions to refine responses, and having system owners demonstrate CASS tools so everyone understands the technology and data flows.
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Document Your Processes: Keep policies and procedures updated, record every control change or enhancement, and maintain a robust audit trail that evidences both ‘what’ and ‘how’ you meet compliance requirements.
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Assess CASS Risks and Mitigating Controls: Identify your most significant vulnerabilities, train competent staff to monitor compliance (including oversight of outsourced functions), and address any issues uncovered by audits without delay.
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Maintain Strong Governance and Reporting: Embed regular reporting to the board to highlight and manage CASS exposures, document all key decisions for visibility and accountability, and follow up on recommended actions to swiftly close any compliance gaps.
Do you want to know more? Take 5 minutes to listen to our Controlling CASS Compliance podcast from the PIMFA CASS Academy.
