MCO's Roles and Responsibilities Needs solution enables firms to capture relevant employee functions, responsibilities, and activities in compliance with individual accountability regimes.
Role assurance regimes and regulatory guidelines on individual accountability are part of a global trend to support a change in culture at all levels in financial services that applies to the most senior executive management and directors subject to regulatory approval. Read about accountability regimes across the globe and how MCO helps firms meet requirements for fitness and propriety.
With MCO's Roles and Responsibilities Needs solution, Compliance and Human Resources departments can:
- Manage the annual certification process and Fit and Proper assessments
- Identify, record, and report conduct rule breaches
- Generate certificates and reports for regulators, including Statement of Responsibilities (SoRs) & Responsibility Maps
- Classify regulatory roles and responsibilities and ensure sufficient coverage of key roles
- Monitor changes to senior managers roles and responsibilities
- Define Knowledge Needs and track continuing professional education and development activities
- Verify and validate qualifications and education during the onboarding process and ongoing
Mitigate risk and ensuring compliance with accountability regimes efficiently and effectively
The Roles and Responsibilities Needs solution within MCO's Know Your Employee suite provides compliance with access to a comprehensive employee dashboard. Administrators can manage certifications, alerts, violations, cases, and assignments related to the employee.
Roles and Responsibilities Needs provides compliance teams with all the essential tools required to achieve and manage compliance across the firm. The benefits include:
- Easy to implement and use by Human Resources, Compliance, and employees
- Ensures all roles are covered with at least one responsible and certified person
- Saves time, increases efficiency, and reduces errors
- Simplifies reporting and certification process
- Creates accountability map on the platform and submits it to regulators
- Enables firms to comply with the regulatory reporting requirements
If you are interested in finding out more or would like to arrange a demo, get in touch with our experts below.
