It is all too easy to underestimate the resources required to deal with a regulatory onsite visit. The senior resources required to be diverted away from the day to day routine and the additional burden on the board and compliance department is material and adequate preparation and planning is required. With the wide scope of a full risk assessment under the PRISM bringing additional areas into focus the time to prepare is now and not to wait for notification of a visit.
See here for some practical guidance into preparations for an onsite. Click here RegulatoryVisits
Resolve are able to assist with pre and post visit preparations, AML and PRISM Health Checks and mock interviews. We have assisted firms from all regulated sectors and would be delighted to discuss your requirements.