What is Compliance Oversight? 

Compliance oversight provides a decision-making framework that is logical, robust and repeatable to govern a firm's regulatory obligations. It enables a structured approach to strategic and operational decisions about risk, compliance and regulations. 

Often, firms manage this oversight through multiple platforms across different frameworks, using spreadsheets to bring together salient information. This common scenario is costly to manage, prone to error, and lacks the transparency required for clear accountability. 

Ensure the Effectiveness of Compliance Obligations, Risks and Controls 

Compliance oversight software closes the gaps by providing a decision-making framework that is logical, robust and repeatable to govern a firm's regulatory obligations. It enables a structured approach to strategic and operational decisions about risk, compliance and regulations, allowing you to: 

• Understand regulatory obligations
• Set regulatory priorities
• Create and manage policy
• Identify gaps in coverage
• Streamline compliance operations
• Provide proof of compliance 

Better Compliance Oversight with MyComplianceOffice 

Our Know Your Obligations (KYO) suite of software solutions provides a structured and auditable compliance framework so that oversight of compliance obligations becomes less fraught. KYO gives you end-to-end policy lifecycle management plus assurance of effective controls. 
Aggregating, integrating, and visualizing compliance risk and performance data on a single platform ensures employee accountability and allows for flexible reporting and real-time feedback.  

Understand the Impact of Regulatory Developments 

A solid understanding of regulatory obligations builds the foundation of a robust compliance program. To keep up with the fast and furious pace of global regulatory change, firms must be able to quickly identify updates relevant to the business and then trigger required modifications to the related policies and procedures.  

Identify Areas of Existing and Emerging Risk 

Compliance risk exposure changes over time.  Ongoing review and assessment of compliance obligations and the policies, procedures and controls that support them helps firms keep pace with evolving regulations and business needs.  

Test and Assess Policy and Control Performance 

Policies and procedures will only protect your firm from compliance risk if they work as expected. Gathering and analyzing control and performance metrics provides assurance that compliance measures have the intended impact, identifies areas of improvement and provides proof of adherence to regulators. 

Centralize Policy Management and Communication to Employees 

Firms need solid policies and procedures management for effective compliance, establishing a clear roadmap outlining employee obligations and creating a shared expectation of regulatory responsibilities and priorities across the organization. Without good policy management practices, policies and procedures can create both an administrative nightmare and significant compliance risk for a firm.