Thomson Reuters has expanded its Connected Risk software platform by launching compliance management.
The new solution provides a tech-enabled compliance framework, bringing processes together in a centralised location to help organisations streamline, execute, and monitor their regulatory and compliance programs.
It integrates disparate sources of information such as internal controls, reviews, regulatory exams, policies, and incidents to deliver a holistic and informed view of compliance.
“Today’s compliance professionals are faced with a myriad of workflows and processes that are often operated in silos across the organization. This disconnected approach results in inefficiencies, duplication of efforts, and repeated engagement with frontline staff,” said Gareth Evans, managing director, enterprise risk management, Thomson Reuters.
“Compliance Management is a targeted solution that seamlessly consolidates multiple components of the compliance process in a single location, resulting in a more powerful internal control framework that can adapt to meet the needs of the future.”
The solution also includes the ability to define a policy library and map policies to the relevant organisational structures, risks, controls, regulatory exams, and compliance reviews.
In addition, compliance teams can manage regulatory interactions with external governing bodies, track contacts, exams, findings, action plans, and responses. These teams can also link compliance reviews to controls and policies to capture ratings, issues, and actions in order to create thorough reports.
Thomson Reuters’ Connected Risk, is governance and compliance software platform which delivers optimal risk management through an enterprise-wide view of risk. It integrates various sources – third-party or non-standardized – into a single, aggregated view of risk, and prioritizes data using advanced mapping to make information easier to understand through a system of tags, structures, charts, and a shared taxonomy.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
