Category: Compliance Management System

Managing Compliance Risks needs Synergy between Culture and Technology

Managing compliance risk in banks is an important objective of management but having the wrong culture makes it hard to achieve improvements in compliance levels. Management can focus on compliance, create strategies to improve regulatory compliance, and much more but they will not receive the results they need without the right culture.What is a [...]

Why Tech Skills are now a Necessity for Compliance Risk Managers

Compliance departments are usually staffed with lawyers and accountants. Lawyers because of their expertise in the legal domain, which is a necessity for interpreting and enforcing compliance. Accountants because their technical expertise in the matters of finance and record-keeping were necessary for compliance work. However, over the past few years complia [...]

Achieving Continuous Compliance through a GRC Platform

Continuous compliance is a new approach towards compliance aided by GRC platforms. There are two approaches we can take when it comes to risk and compliance. One is the normal approach which has been historically used in which compliance is achieved through periodic and reactive actions. There are audits after every few months and investigations when an issu [...]

The Future of Compliance Solutions

Compliance management is quietly undergoing a change. This change began a decade ago and the pace of the change is steadily accelerating. Compliance management was a fully manual process. The organization depended solely on the vigilance and productivity of the compliance personnel to ensure the highest possible levels of compliance. Organizations are now au [...]

Five Key Steps to Improve Regulatory Compliance

Every business is aware of the importance of regulatory compliance, yet we often hear about compliance violations and huge fines being levied on organizations by regulatory bodies. Enforcing regulatory compliance is a complicated task because it requires every stakeholder in the business process to be compliant. The employee at the front line dealing with c [...]