Do you have sufficient resources to satisfy your regulatory compliance requirements?

As part of Safer Gambling Week 2020, we are offering a complementary regulatory health check for operators. Our free health check is completely confidential and tailored to focus on operators’ responsible gambling and social responsibility frameworks to ensure they are fulfilling their regulatory and wider social responsibilities. Please register and complete our short survey to obtain your complementary health check report.

Compliance teams of licensed gambling operators have a lot of ground to cover in their day-to-day jobs. Due to this pressing workload, stakeholders should be asking the question: do we have enough resources to do the job properly?

The day-to-day duties and responsibilities of the compliance function continue to increase. From anti-money laundering efforts through to customer interactions and handling of VIPs, the demands from regulators have grown rapidly. This in turn means that compliance teams need more time, effort and resources to meet the challenges. This is particularly the case for smaller operators who may have just one individual or a small team looking after their entire regulatory compliance function.

In addition to the aspects above, they also face the following challenges:

• Ensuring they are keeping abreast with the ever-changing licence conditions and requirements, particularly in the UK with an increased focus on topics such as affordability and customer interactions;
• Being able to hire experienced and knowledgeable individuals in a competitive job market;
• Increased expectations of the compliance function to work closely with other business units to educate them and embed a strong compliance culture; and
• Ensuring compliance processes remain effective and fit for purpose across the business to ensure no issues are identified during regulatory assessments.

Compliance is never static. Updates will always be necessary: improving or revising policies and procedures, adjusting to regulatory changes, and keeping on top of the requirements from a multitude of regulators globally will always be a constant demand.

So how can a team with limited resources feel confident that they can meet such demands and that they are satisfying their regulatory requirements and, in turn, stakeholder expectations?

This is where Amber Gaming can help.

Through our regulatory compliance health checks, we provide you with access to our team of experts who have been immersed in the industry day-to-day for over a decade and have the wisdom of understanding the regulatory environment and the pressures that you face. We will act as an extension of your compliance team. Working with your staff and existing frameworks, we will help you undertake and evidence what the regulator needs to see to be reassured about your processes and procedures in key areas of the regulation.

Our experts will act as an independent sounding board for all queries and advice. We provide ongoing remediation plans and support with ensuring effective implementation throughout the business to provide assurance to key stakeholders that the business is in good health whilst also allowing your compliance team to get on with their day-to-day tasks and responsibilities.

Compliance is more than a tick box routine. It is about establishing a robust compliance culture across your entire organisation, which seems like a tall ask. With the support of our experts and regular health checks, we are on hand 365 days a year to keep your compliance standards in optimum health.