Client Overview:
A mid-sized financial services firm managing $3 billion in assets for high-net-worth individuals and small businesses, known for its personalized service but challenged by new regulatory demands.
The Challenge:
The firm was rolling out a $5 million compliance system to meet updated SEC regulations. However, the project was four months behind schedule and 20% over budget due to integration issues with existing systems and a lack of internal expertise. This put the firm at risk of $1 million in fines and reputational damage, with an overwhelmed compliance team struggling to regain control.
Our Solution:
Acute PMC stepped in with a project manager experienced in regulatory compliance and financial services, serving as the Interim Compliance Transformation Lead. Our approach included:
- System Integration: Worked with the software vendor to resolve compatibility issues, completing integration in six weeks.
- Process Streamlining: Redesigned workflows to meet SEC requirements, cutting manual tasks by 40%.
- Staff Augmentation: Added two Acute PMC compliance specialists to handle data migration and testing, speeding up progress.
- Real-Time Oversight: Utilized Acute PMC’s proprietary platform to track milestones and ensure regulatory alignment.
Our leader collaborated directly with the firm’s compliance and IT teams, embedding solutions seamlessly into their operations.
The Results:
- Finished the implementation three weeks ahead of the revised deadline, avoiding $1 million in fines.
- Reduced project costs by 15%, saving $750,000 from the overrun.
- Boosted compliance accuracy by 30%, strengthening audit readiness.
Why Acute PMC:
Unlike traditional consultants who might offer a plan and walk away, Acute PMC provided a proactive leader who executed the turnaround from within. Our deep financial services knowledge ensured compliance and long-term resilience.
Client Perspective:
“We were drowning in delays and red tape, but Acute PMC’s project manager cut through it all and got us back on track,” said
Laura B., Chief Compliance Officer.