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Practice

Stage 3 Maintenance - ongoing assurance and embedded compliance

Playlist

5 Videos

Stage 1: Diagnostic

This Stage provides clarity before commitment. It enables leadership to understand where exposure sits, what is working well, and what requires attention, without assuming that wholesale change is necessary.

The Diagnostic stage provides leadership with clarity and confidence before committing to Repair or Maintenance work.

The Diagnostic may be structured as:

  • Independent AML Audit (Regulation 21)
  • Broader Compliance Gap Analysis
  • Fraud Risk Review
  • Accreditation Specific i.e Lexcel, CQS, SQM
  • Diagnostic for Building Stage 2 and/or 3 Proposals
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The format is agreed based on regulatory drivers, firm size and risk profile.

What We Typically Assess Outcome for the Firm

Regulatory Compliance Framework

Policies, procedures and controls across AML, conflicts, client care, supervision and data protection and more
Clear understanding of whether the framework is complete, current and aligned to regulatory expectations

Operational Implementation

How policies operate in practice, including file sampling, escalation routes and monitoring processes
Identification of gaps between documented controls and day-to-day behaviour

Governance & Oversight

Role clarity for COLP / COFA / MLRO, reporting cadence, risk registers and monitoring plans
Visibility of governance strengths and areas requiring strengthening

Training & Competence

AML and compliance training coverage, staff awareness and behavioural adherence
Insight into staff confidence, knowledge gaps and risk exposure

At the conclusion of Stage 1, the firm typically receives:

  • A structured written report
  • Clear identification of priority risk areas
  • Practical, proportionate recommendations

Stage 1 provides an informed basis for proceeding to Stage 2 Repair & Implementation and/or Stage 3 Maintenance

Stage 2: Repair and Implementation

Following completion of the Stage 1 Diagnostic, HiveRisk delivers targeted Repair & Implementation work to address identified gaps and strengthen the firm’s compliance operating model. Stage 2 is typically structured as:

  • A defined remediation project with agreed outputs and timeline; or
  • A phased implementation programme delivered over several weeks.
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The format is agreed based on regulatory drivers, firm size and risk profile.

Typical Outputs Benefit to the Firm Indicative Pricing ex VAT

Policies, Controls & Procedures

  • Redrafting or provision of key compliance policies
  • Strengthening AML, conflicts, client care, supervision and data protection controls
  • Updating associated registers, forms and guidance notes
  • Ensuring policies reflect actual working practices
A defensible, current compliance framework aligned to operational practice
£1,500 – £12,000 depending on scope

Process Redesign & Implementation

  • Redesign of onboarding and source of funds workflows
  • Clear escalation routes and accountability mapping
  • Simplified compliance touchpoints within matters
  • Implementation support and rollout across teams
Clear, consistent processes that improve adherence and reduce friction
£4,000 – £15,000 depending on complexity

Training & Behavioural Embedding

  • Targeted compliance training for all levels across all compliance areas.
Improved staff confidence, better process compliance and reduced regulatory exposure
£950 – £10,000 from single session to firmwide structured annual programme

By the end of Stage 2, firms typically achieve:

  • A strengthened and proportionate compliance framework
  • Clearer operational processes
  • Improved staff understanding and adherence
  • Reduced uncertainty for leadership and nominated officers.

Final pricing is confirmed following the Diagnostic and agreed scope of remediation priorities.

Stage 3 Maintenance Retainer Tiers

Each Tier builds upon the one before and increases in access, proactivity and governance integration. The appropriate level will depend on your internal capacity, risk profile and the extent to which you wish HiveRisk to assume operational responsibility.

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Stage 3 Maintenance - ongoing assurance and embedded compliance

The format is agreed based on regulatory drivers, firm size and risk profile.

Lite Enhanced Embedded

Positioning

Structured oversight with executive-level support
Firmwide compliance support with proactive monitoring
Dedicated compliance function aligned to leadership

Overall Experience

Provides a clear compliance framework and a trusted escalation route for key decisions.
Reduces day-to-day strain and prevents routine issues reaching leadership unnecessarily.
Provides Head of Risk & Compliance capability, embedding governance and reducing operational burden on COLP, COFA and MLRO.

Access

Support line and email for named executives. Does not include firmwide helpdesk access.
Firmwide compliance helpdesk (email & telephone)
Firmwide support + priority escalation handling

File Reviews

Quarterly programme and trend reporting
Increased frequency and deeper sampling
HiveRisk actively drives the programme with increased implementation

Risk Engagement

Quarterly leadership / nominated officer meeting
Monthly engagement with nominated officers
Formal governance cadence (monthly or quarterly leadership meetings)

Policy Maintenance

Proportionate updates quarterly and as required
Proactive updates aligned to regulatory and commercial and operational change
Ongoing structured review and embedding across the firm

Monitoring & Follow-Up

Feedback provided to firm
Follow-up to ensure corrective actions are closed
HiveRisk actively drives implementation and closure of actions

Operational Capacity

Advisory and oversight
Advisory plus proactive monitoring
Hands-on operational capacity and coordination

Indicative Pricing

£1500-£2500

£2500-£3500

£3500- £6500

Final pricing is confirmed following completion of the Diagnostic (and Repair where appropriate) and agreement of scope.

Modular Add-On Services – non exhaustive

  • Independent Assurance: AML Audit (Reg 21), Fraud Risk Review, Thematic Audits
  • Accreditation Support: Lexcel and CQS support
  • Complaints Handling