Due to anxiety surrounding potential conflicts of interest, large accounting firms are preparing to separate their audit and non-audit practices, and spin off their restructuring businesses. As with any restructuring transaction, it will be critical for these firms to identify and track the complex and evolving relationships with other parties involved. To meet this significant productivity challenge, firms require purpose-built conflicts management solutions they can effectively and consistently leverage to manage risk and remain compliant without reducing productivity or returns.
Today, many firms involved in debt restructuring, business recovery planning, and bankruptcy consulting often conduct manual checks across hundreds of entities, sourced from various systems both within the firm and external sources. To reduce this significant burden, leading professional services firms worldwide have turned to Intapp Risk & Compliance, an Intapp suite.
Here are the top six capabilities of Intapp Risk & Compliance that restructuring firms can rely on to streamline their activities:
Seamless User Experience within a Configurable Solution
Intapp Risk & Compliance offers restructuring teams a seamless user experience and simplified structure that allows firms to modify their own workflows and reports without vendor dependence. The software also provides a fully configurable solution that supports the needs of your senior management, as well as compliance, risk, and technology professionals.
Bulk Upload Capabilities for Streamlined Searches and Quicker Reviews
Recognizing that your conflicts team searches across countless parties involved in a single restructuring case, Intapp Risk & Compliance makes it easy to upload large lists of entities and split searches across a team. Restructuring firms can simplify and accelerate conflicts clearance to maximize staff time and respond to the need for multiple checks throughout the lifecycle of a deal.
Advanced Technologies for Faster Results
Intapp Risk & Compliance includes advanced search and AI-enhanced conflicts review capabilities, integrations with internal and third-party data, continuous conflicts monitoring, and interactive reports for increased transparency. AI-assisted conflicts clearance reduces the volume of conflicts requiring manual review by up to 60% by automatically categorizing search results into four categories — issue, no issue, uncertain, or excluded — based on machine learning and your firm’s policies. Firm can configure policies and procedures within Intapp Risk & Compliance with review, escalation, and approvals workflow.
Risk-based Approach
The suite’s advanced functionality helps firms make informed decisions on commercial and regulatory risks. It also supports a risk-based approach to anti-money laundering (AML), know-your-client (KYC) guidelines, and customer due diligence (CDD), including initial risk assessment, risk scoring, active monitoring of clients and matters, and the use of external data — such as corporate trees, sanctions, and PEPs — in the review process.
Native Integration with Third-Party Data
Intapp Risk & Compliance lets you take on an interactive, collaborative conflicts-resolution approach. You’re able to surface corporate treesand other risk-related content by integrating withthird-party data providers of your choice, and closely monitor clients and engagements throughout the matter lifecycle, consolidating data into a single set of search results.
Ongoing Monitoring of Evolving Risk Profiles
Intapp Risk & Compliance continuously runs in the background and alerts your team to potential conflicts that may arise during over time. You can monitor risks such as changes to corporate ownership, sanctions lists, AR balance, Paydex scores, and other key factors throughout the entire transaction.
Learn more about how the features and capabilities of Intapp Risk & Compliance can help simplify risk management in restructuring engagements.