Automated verifications ensure that all required data is captured and regulatory compliance obligations are met
How can compliance teams ensure that all documents and data required for compliance are captured and that the right checks are made, at the right time?
Without a single view of all regulatory documentation, by client, it is difficult to identify compliance gaps. Compliance teams can never be certain that the correct data is being captured, and the correct checks are being made, in a way that can be evidenced effectively.
It can be difficult to ensure that advisors give compliance training the time and attention required to mitigate compliance risk, or that onboarding teams conduct every compliance check correctly. Despite best efforts to train staff, defensible compliance is not guaranteed.
Training staff on compliance obligations and data capture requirements is one thing. Monitoring that compliant practices are being adhered to is another. Without the ability to track compliance activity effectively, you can never be certain that responses to regulatory enquiries will be adequate.
By implementing interconnected workflows for compliance processes and automated triggers to prompt or schedule compliance checks, you can be certain that you are meeting all regulatory requirements for compliance.
With a single role-based dashboard, designed specifically for compliance oversight, your team can quickly and effectively identify gaps, clients at risk and cases where further compliance checks are required to safeguard your firm.
With automated audit trails and workflows you can evidence to regulators that you are capturing the right data and performing the correct compliance checks, at the right time, to ensure you are operating diligently, in the best interests of your clients.
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