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Our regulatory compliance solution
The compliance function needs to effectively manage its compliance risk exposures in a continuously evolving regulatory landscape by setting up an adequate assessment framework and monitoring program through an organized channel.
The business environment is continuously exposed to new compliance risks challenging the capacity of compliance functions to effectively identify, assess and mitigate the full spectrum of risks related to new regulations or procedures. In this context, certain compliance milestones are expected to be strengthened and enhanced, including:
Build up an extensive compliance risk catalog
Structure the compliance framework to align regulatory, with compliance risk and internal controls.
Evaluate compliance risk exposures and prioritize
Set up a methodology to assess inherent risk exposure.
Align risks, controls, and efforts
Design a compliance risk assessment and monitoring program and prioritize control execution in light of compliance risk assessment results.
SCOPE AND REPORTING
Ensure complete documentation of the compliance function’s monitoring scope
Build a compliance risk catalog addressing the bank’s entire range of activities.
Report on compliance risk exposure and monitoring program to top management
Report on key results and findings.
Manage several group entities
Build up aggregation functionalities to maintain a consolidated view for group oversight and follow-up.
EFFECTIVENESS AND DEFICIENCIES
Capture and embed operational events in a timely manner and impact compliance risk assessment accordingly
Capture operational events and assess their impacts on compliance risk profile.
Collect, monitor, and follow-up internal control deficiencies
Build up a framework to help compliance officers to score the result of their work.
Assess ‘how good’ the internal control framework is at mitigating compliance risks
Our digital compliance solution
Web-based engine, hosted in a secured environment and remotely accessible. It helps our client (namely compliance and/ or risk control function) to better follow-up on its risk profile (primarily compliance and regulatory risks) and monitoring program as well as internal control deficiencies while offering reporting and aggregation capacities to support the function in its communication.
Technical and security environment
SmartComply is hosted by DBoard infrastructure
The SmartComply app is embedded in DBoard which is a securitized environment using specific security features and authentication mechanisms. Users can connect to the application using a browser via multiple devices (including computers, tablets, smartphones etc.). The user must log on to DBoard to access the app, ensuring a stringent security layer.