27 Aug Should You Consider an Outsourced CCO?
Many firms are concerned with the expense and administrative load associated with fulfilling the role of a CCO. Broker-Dealers and RIA’s may consider forming an alliance with an outsourced firm to address some of their internal concerns while filling this role. Communicating with regulators is an art, the right outsourced partner can bring the competence and knowledge required to build and support your operation and oversight of your firm’s compliance program.
SDDco consultants and principals bring a fresh perspective to business risks and opportunities that your firm might need. With our services, you gain multi-dimensional support that benefits the specific needs of Brokerage or Investment Advisor firms like yours!
OUTSOURCE YOUR CCO ROLE WITH US!
SDDco Regulatory Services, a division of the SDDco Group, can provide a qualified FINRA Series 24 registered principal to act as your firm’s designated Chief Compliance Officer.
Benefits to outsourcing the CCO role with SDDco Group:
- Outsourced CCOs play in dangerous waters, are always exposed to changing regulatory conditions, and must react to regulatory changes on a timely basis
- Cost effective alternative to the salary and benefits cost of a qualified in-house CCO
- Increased efficiency by having a Compliance Risk Profile which your staff can utilize as a guide
- Reduced regulatory exposure with a CCO who can effectively manage your BD or RIA’s risk profile
- Stay up to date with rules and regulations and adapt your BD or RIA to its proper risk environment
- Knowledge and competence concerning industry “best practices” gathered through working with multiple firms
Looking to outsource both the CCO and FinOp functions to ONE consulting firm? SDDco Group is a one stop shop for all your compliance and accounting needs.
Benefits of outsourcing BOTH the CCO and FinOp role with SDDco:
- A CCO and FinOp from one consulting firm presents a unified front with regulators. Regulators examine compliance policies & procedures, transactions records, and financial statements for discrepancies. A CCO and FinOp team can ensure that your firm’s business has a cohesive approach to regulatory inquiries.
- A combined CCO and FinOp team with a comprehensive understanding of your business can tailor your compliance program to your firm’s needs. In addition, this approach provides cross function services which adds important efficiencies which our competitors can rarely match.
- When you eliminate the costs of benefits, salary, taxes, and bonuses and hire an outside CCO and FinOp team, your firm can place more emphasis on its bottom-line net income.
- With the growing uncertainty in the financial services industry, you can’t afford to have limited resources. There is undeniable benefit to engaging industry experts to help you navigate the ever-changing regulatory environment, and often outside consultants are the best option available.