PwC Remediation Centre of Excellence

We'll support you in managing your remediation portfolio in a way that delivers scale, efficiency and cost effectiveness at the speed you require.

Rebuilding trust in society - together

The financial services industry is facing significant headwinds responding to misconduct which has resulted in a loss of customer trust and reputational damage. Organisations have responded by setting up large scale remediation programs, however these have proved to be slow, expensive and to date the industry has experienced a significant amount of rework due to issues with methodologies applied and quality.

In response to these challenges, PwC has set up an on-shore Remediation Centre of Excellence that utilises a unique operating and resourcing model to support our clients in a way that delivers scale, efficiency and cost effectiveness at the speed required.

The current estimated project spend on remediation efforts is between $1.80 and $48 for every $1 compensated. This is not sustainable.

What we do

Successful remediation delivery is a combination of experience, methodology and operational discipline –all core principles of the approach adopted by the PwC Remediation Centre. By leveraging our wide ranging experience in complex and large scale remediation projects, the Remediation Centre can undertake work within required timelines and in a controlled manner.

Unique resourcing model

Staff within our PwC Centre of Excellence (“CoE”) are PwC employed staff who are trained to deliver efficient and accelerated customer and operational outcomes at scale and quality. We take responsibility for the processes that are being delivered through the Centre of Excellence and take full accountability of the quality of outcomes that are produced.

The Centre brings together data and technology specialists, highly technical SMEs and experienced consultants across PwC to deliver remediation and operational outcomes.

All staff within our CoE must go through PwC's standard recruitment and onboarding processes including mandatory background and police checks.

The Centre works in a variety of operating models (ie from fully outsourced to supplementing existing in-house expertise of our clients).

Our people are skilled, energetic, and qualified with the ability to scale up/down as required. We offer access to experienced operational leadership and regulatory subject matter experts.

Proven delivery methods

The operational model of the Remediation Centre is based on the “PwC Cell structure” with review processes and quality control built in to focus on getting it right the first time. Operational effectiveness and program process discipline are at the heart of the process design, driving progress and productivity. The Remediation Centre leverages established PwC methodologies and practices with operational teams providing a cost effective delivery method.

Scale and value

We offer a cost effective solution to remediation where our clients can access a scalable workforce (100+ seats) as well as a global delivery facilities model allowing operations to expand and contract as needed.

Technology innovation

We offer a dedicated solutions architect and investment in specific technology which drives efficiencies to operational deliver and execution. The Remediation Centre of Excellence has access to all PwC tools with continued investment and development in smart technologies.