Findings from special BaFin audits, internal audits or auditor reports regularly generate significant pressure to act professionally, organizationally and towards the supervisory authority. The challenge rarely lies in whether something needs to be done, but rather in setting the right priorities, bundling resources and documenting the implementation in a resilient manner. WCTS supports you in the structured processing of findings and the sustainable remediation of underlying weaknesses.
About
Identified deficiencies are only effectively resolved when the underlying root causes are addressed and the remediation measures are documented in an audit-proof manner. In practice, prompt remediation often fails due to tight internal capacities, concurrent audit findings, or unclear responsibilities between business units, compliance, and IT.
As part of our support, we undertake the following tasks:
Structuring and Prioritization — processing findings from BaFin audits, internal audits, or external auditor reports into a robust action plan with clear responsibilities and deadlines
Content-related Processing — remediation of KYC and customer files (file reviews, post-documentation, re-KYC), revision of policies and operating procedures, and adaptation of workflows and controls
System-side Corrections — support in recalibrating monitoring and screening systems, including scenarios, thresholds, and escalation logics
Documentation and Regulatory Communication — preparation of audit-proof evidence of deficiency remediation, as well as support in reporting to management and regulatory authorities
We work closely with your internal stakeholders and scale the scope to the size of the remediation project, from isolated individual measures to extensive, multi-month programs.
