A recent Deloitte study found that organizations surveyed indicated that that as their compliance programs mature, they are increasingly being asked to ‘do more with less’. Compliance teams must constantly balance meeting regulatory requirements with managing costs and increasing efficiency.
To keep up, many firms have added compliance solutions on an as needed basis to meet the immediate demands of new policies and changing regulations. This approach leads to a disjointed and siloed technology stack with substantial investment of time and effort into inefficient legacy systems and manual processes.
The right compliance technology can help firms reduce the cost of delivering their compliance program while lowering risks caused by disparate systems and islands of information. Having robust compliance technology greatly empowers compliance teams, helping departments manage risks much more effectively. By integrating and consolidating technology, firms can reduce the cost of delivering their compliance program and reduce the risks caused by operating too many systems.
The white paper Why Less is More: Consolidate Compliance Technology to Reduce Cost and Risk explains the positive impact that having a centralized solution with integrated data can have from the front lines to the board room, including:
• Lower cost of compliance
• Increased transparency
• Reduced reputational risk
• Improved supervision
• Enhanced decision making
• Demonstrated commitment to regulators and examiners
Join us for the webinar Compliance Budgeting: Reducing Risk While Doing More with Less
We’re looking forward to joining Treliant’s Securities and Investment Management Compliance practice leader Alan Halfenger and a panel of industry experts for the webinar Compliance Budgeting: Reducing Risk While Doing More with Less on February 3 at 1PM EST as they explore ways to enhance your compliance program and decrease risks through technology, outsourcing, and budgeting/critical task planning.
The panel will discuss current trends in regulatory technology, compliance budgets and spending, including:
- Learning how to use automated tools to monitor big data to gain critical insights on the organization’s key risks;
- Creating efficacies around repetitive tasks through the use of part-time and outsourced resources;
- Reorganizing monitoring and testing tasks to match frequency to the level of risk;
- Using job sharing and overnight processing to address volume spike and surges; and
- Addressing audit and regulatory concerns on managing compliance budget growth.
Alan Halfenger (Moderator), Managing Director, Treliant
Keith Pyke, Director, Solutions-Sales, MyComplianceOffice
Brent Taylor, Former GC and CCO
Knowing your compliance risk requires the right view. Featuring a scalable and modular approach to meet the needs of every firm, MCO helps organizations manage conduct risk and identify conflicts of interest across employees, transactions and third parties.
The MyComplianceOffice platform enables comprehensive monitoring, workflow-directed task management, real-time alerts to exceptions and sophisticated hierarchy management and integrated data sets, including global company and security master of public and private companies.
Ready to learn more? Let us know and we’ll set up some time to talk.