Compliance

Key Metrics for Improving Risk and Compliance Program Performance

Compliance and risk performance is often measured by the financial penalties or losses that were prevented or realized; however, relying on this set of metrics can hide a more comprehensive view of risk and compliance program management. Compliance management and risk management are both complex domains, and one cannot simply judge their performance by […]

Improving Risk and Compliance in 2020 While staying within the Budget

As the year ends, managers are working on creating plans and strategies for 2020 and finalizing the budget for the next year. Risk and compliance managers want access to the latest risk and compliance technology that will increase productivity and accuracy, but they are often limited by the budgets prescribed to their departments. It […]

Detect Issues and Violations Early Through Compliance Monitoring

The importance of compliance controls cannot be overstated. Having the right compliance framework is important not just to management, but to the regulatory bodies as well. The biggest compliance penalties are usually levied on banks which did not have the proper controls in place, because it represents a structural failure. That is why compliance […]

Overcoming the Diminishing Returns in Risk and Compliance Management

The law of diminishing returns, which states that after a certain point adding resources only gives marginal value, is certainly true for risk and compliance management. Organizations that try to improve compliance levels and risk mitigation by increasing risk and compliance personnel end up realizing that the improvement does not justify the increased payroll […]

Improving Risk and Compliance Results With Smarter Data

We live in an era where data has become one of the biggest commodities. Some of the biggest businesses in the world achieved success by using data. Any business that wants to get more out of its risk and compliance efforts also needs to realize the importance of data and what it can do […]

Improving Compliance QA Testing Through Automation

It may be possible to temporarily improve compliance monitoring through increased oversight, but to truly improve compliance and embed it into the DNA of the organization it is important to work on the compliance framework within the organization. By compliance framework we refer to all the parts of the organization that play a role […]