Our Response

ThinkPlaceX adopted a comprehensive approach to reimagining the management of the specific compliance issue. The process began with a review of existing documentation and exploratory workshops to understand the current compliance approach. Building on these insights, ThinkPlaceX collaborated with the Regulatory Compliance Branch to design and develop a new, strategic framework for managing the compliance risk.

Through co-design workshops, the team developed four key functions of the new approach: Educate, Detect and Assess, Respond, and Measure and Improve. This framework equipped the regulator with the capability to operate strategically and take proactive compliance actions. Central to this transformation was leveraging compliance data, initiating an exploration of AI-powered data collection methods to complement existing intelligence sources, such as community reports and tip-offs. By integrating data analytics and intelligence functions, the regulator can now identify trends and areas of both strategic and tactical interest.

ThinkPlace also worked closely with the regulator to design changes in team structures and supporting functions to enable the new approach. To prepare for implementation, a risk scanning workshop was conducted, identifying key hotspots and target areas. These insights informed the development of risk rating tools, enabling proactive actions and a consistent regulatory response.