iKinetiq's Third-Party, Operational, and Compliance (TPOC) Risk Framework

The Framework

iKinetiq’s experts are dedicated to helping clients understand the impact of regulatory enforcement actions.  We have developed the Third-Party, Operational, and Compliance (TPOC) Risk Framework© to calculate the TPOC Risk Rating for each regulatory enforcement action based on our proprietary methodology. 

TPOC Risk Framework Logo with orange border_REPLACED_2024-10-03

The Methodology

This methodology is based upon the decades of experience of our experts:

  • Working directly with financial services regulators, including US, European, and Canadian regulators  
  • Designing and implementing enterprise policies, procedures, governance, and controls to meet regulatory compliance requirements for small and large financial services companies 
  • Conducting internal and external audits, regulatory gap assessments, and remediation programs to achieve and sustain ongoing compliance 

  • Creating enterprise risk management programs, including contract and policy requirements, risk assessment tools, testing protocols, and risk mitigation controls 

  • Evaluating, designing, and implementing technology tools to support risk management programs

To learn more about how iKinetiq's TPOC Risk Framework will help you get to compliance, speak with one of our experts now.

 

The Risk Ratings

The TPOC Risk Rating assesses the identified deficiencies and remediation requirements related to third-party, operational and compliance risk management.   

These risk levels are based on the following:

  • The assessment of a fine, the amount of the fine, and whether multiple regulators imposed the fine  

  • The magnitude of the gap between the regulatory requirements and the existing bank processes 

  • The nature of the corrective actions and the level of effort required to complete them 

  • Whether the deficiency falls within a specified supervisory priority 

  • Whether the deficiency aligns with a new or recently published regulatory requirement

  • Whether the deficiency was identified in a previous exam or enforcement action

The Risk Levels

There are four risk levels:  Low (green); Medium (yellow); High (orange); and, Very High (red).    

LOW RISK

TPOC Risk Rating_Low_CURRENT_2024-10-07

 

MEDIUM RISK

TPOC Risk Rating_Medium_CURRENT_2024-10-07

 

HIGH RISK

TPOC Risk Rating_High_CURRENT_2024-10-07

 

VERY HIGH RISK

TPOC Risk Rating_Very High_CURRENT_2024-10-07

 

Ready to change how you do compliance, contact our team of experts today.

 

Additional TPOC Risk Framework Resources

Our Risk Ratings

Stay up to date on regulatory actions with risk ratings that quickly point you to what is important and how it impacts your business.

 

Our Self-Assessment Tools

Our TPOC Risk Tools help you conduct self-assessments of your own regulatory risk programs and identify deficiencies for remediation.

 

Our Team of Experts

Our clients also have access to our team of experts who use these tools to develop a custom solution that includes a detailed gap assessment, report of deficiencies, and tailored remediation plan to jump-start or return the client to compliance with regulatory requirements.

Our Wellness Checks

Conducting annual reviews is crucial to identify compliance gaps and proactively correcting deficiencies before they become issues.  They also provide a valuable opportunity to build robust compliance strategies that mitigate risk and avoid regulatory enforcement actions and fines.