Has This Happened to you? Case Studies in Disruptive Event Management

What happens when your business gets hit by an extraordinary or unexpected event, like a regulatory demand? Responding effectively requires a lot of work, but you can’t afford to call all hands on deck – your people have their hands full with everyday business.

In an earlier blog post, we discussed the impact of disruptive events, and why outsourcing event management to a specialized team might be the answer.

In the 30 years we’ve been helping organizations navigate disruptive events we’ve seen the nature of those events evolve beyond what has historically centered on class action settlements. Recently, more and more clients’ internal resources are under strain from increasingly complex regulations, greater demands for transparency and disclosure, and the need to communicate proactively when errors occur.

Here are three case studies illustrating the variety of challenges that call for effective event management:  

• AML/KYC: Following a regulatory audit, a client had to upgrade their Anti-Money-Laundering (AML) plan and strengthen their Know-Your-Client (KYC) program. That meant obtaining, validating and consolidating a huge volume of data across numerous systems and updating it to their compliance portal. They faced a tight deadline and the risk of substantial penalties if they failed to comply.

To meet the deadline, we delivered a customized, integrated solution that included on-boarding, training and managing a team of 100 professionals over an 18-month period. The client met its deadline with a stronger, fully compliant program and got back to business as usual without taxing its own resources.

• Notifications and Solicitations: A client undergoing a merger needed to send several different customer and stakeholder notifications and solicitations for books and records, merger information, and privacy policies. They lacked the internal resources and systems infrastructure needed to support the increased communication volumes and requirements.

We collaborated with them to understand the scope of their needs, and developed a comprehensive solution with an execution plan. We provided resources for project management, call center staffing, response processing, and returned mail processing, as well as system solutions for certain tracking needs. Having the SS&C Flex team handle communications allowed the client the necessary breathing room to focus on their internal reorganization and transition.

• Impacted NAVs: A client needed to remediate historic accounting discrepancies, revenue share concerns, and inaccurate asset valuations that resulted in misstated NAVs. The resources and experience required were beyond their capacity.

Working with forensic accounting firms, tax administrators and regulators we assigned a dedicated project manager, set up a call center, and handled all broker outreach, distribution calculations, mailings, cash management, check re-issuance, and returned mail processing. We also deployed a solution for comprehensive tracking and reporting. The client was able to present a comprehensive remediation and distribution plan for both board and regulatory approval.

Throughout our 30-year history, we’ve honed our outsourcing model and systems to adapt to a wide variety of events with many moving parts. We’re experienced in specific types of events like these, and have the flexibility and resourcefulness to deliver solutions for any new challenges.