Compliance Management System

Do Your Organization’s Compliance Officers Have The Compliance Tools They Need?

Predict360 Compliance Management System

We all expect the highest level of performance from the compliance departments within our organization. Compliance is critical to any business in a regulated industry, and a misstep in compliance can cause significant damage to the business, its reputation, cash flow, and even its ability to make its own decisions. Everyone knows this importance, yet most compliance officers don’t seem to have the compliance tools that they need.

The perils of off-the-shelf general-purpose software
Most business provide their risk and compliance departments with general-purpose software such as Microsoft Excel and Microsoft Word. Now don’t get us wrong – these are fantastic applications and are still unbeaten when it comes to doing what they do. However, they are also not risk or compliance solutions. […]

4 Steps to Improve Compliance Management

Predict360 Compliance Management System

The necessity of compliance management ensures that businesses take it seriously. However, many businesses end up not being satisfied with the results. No matter how many resources they dedicate to managing compliance, the results seem to stay the same.

That happens because managing compliance isn’t simply a process that can be improved by increasing the employees working on it – there are diminishing returns in increasing compliance personnel. If businesses truly want to make a difference, they need to look at their overall compliance management framework and make structural improvements.
Step 1 – Increase […]

Geopolitics, Sanctions, And The Changing Role Of Compliance Management

Predict360 Compliance Management System

Compliance management right now is more complicated than it has ever historically been. There was a time when compliance was relatively simple as the number of regulations that governed banking and finance were low.

It is hard to imagine a time without AML/BSA legislation because of how prevalent they are and how important it is to comply with them, but the first AML/BSA laws were passed in 1986. That means that AML/BSA is only three decades old. The laws haven’t held stagnant over these years – […]

The Basics of Regulatory Compliance

Predict360 Regulatory Change Management

Regulatory compliance is one of the central components of our GRC solution – the compliance module has even been endorsed by the American Bankers Association – thus it is a topic we are very interested in.

It is fascinating how important regulations are and how much of an effect they have on the way our world works. When financial regulations work right, they can uplift countries out of poverty, and when they do not work right, they can bring down economies all over the world, as we all saw in […]

Volkswagen Announcement Reaffirms the Importance of Culture of Compliance

Compliance Management System

Volkswagen recently suffered a major compliance scandal. The organization had been misreporting emission data for years. They were fined $25 billion for the scandal which was termed ‘’Dieselgate’’ by the media.

The whole scandal and fines were also widely covered in mainstream media, which resulted in reputational losses that will take decades to rebuild. The new leadership started by doing an in-depth audit of the organization to understand how such a breach of ethics could occur within their organization. They found that the lack of […]

Understanding PCI Compliance for Small Businesses

Compliance Management System

PCI compliance continues to be important for businesses, but not a lot of business owners are aware of what it exactly is. Let’s look closely at PCI compliance, why the standards were formed, and how small businesses need to comply with them.

What is PCI Compliance?
Credit card fraud reached epidemic levels at […]