TeamConnect GRC

All compliance is collaborative. Add accountability with holistic traceability for timely, accurate compliance reporting.

Don’t let compliance oversight disrupt your business continuity. Proactively manage risks and legal exposure with a holistic view of liability across the enterprise. Ensure investor confidence as you consolidate, prioritize, and manage compliance efforts with a single point of control.

Position TeamConnect GRC at the center of your compliance operations and benefit from a unified platform solution for accurate compliance collaboration, increased reporting, communication, business intelligence, and strategic decision-making. TeamConnect GRC cuts across all data, workflows, processes, and controls to unify your collaborative compliance efforts.

 

Regulations
Collaboration with regulators, internal team, outside counsel and relevant contractors is essential to unifying the information streams about regulatory change and understanding your obligations. You must be able to reference existing regulations, changes already coming, proposed changes under consideration and the impact of regulations, to be able to responsibly comply. TeamConnect unifies the pertinent information streams, individual contributors and the group workflow accountability, creating a referenceable record of all participation. Policies & Procedures
Response to regulation must include detailed follow-through in business operations. Compliance officers and regulatory managers along with key managers must work with relevant line-of-business owners to ensure operating practices embed processes and behavior compliant with rules. TeamConnect is the information backbone for developing and implementing policies, providing the means to establish and document procedures and communicate them to staff. Attestation of policy execution is supported via email or paper, and training on policies & procedures can be centrally referenced. Controls
Once policies managing GRC are in place, how do you make sure policy becomes sustainable practice? You have to support internal audit of practices, sampling to determine the efficacy of GRC procedures using branch office visits, continuous tracking of disputes resolution and customer complaints, and get a unified view of both offline and online channels for relevant communications. Regardless whether your organization tends toward cooperative or adversarial relationships between dependent functions, TeamConnectGRC provides the collaborative features to support controls over practices and procedures, and the recall to satisfy accountability. Remedial Action
No matter how perfect your procedures on roll-out, the practical reality is that people make mistakes and practices fall out of compliance over time. Discipline wanes. Staying on track with GRC concerns requires remedial action plans and tracking for revisions to procedures. Procedure gaps must be identified, filled and tracked for effectiveness. Moreover, proactive remedial action pays, as compliance audits by regulatory agencies (e.g. SEC, FDA, FNRA) tend to be more punitive if procedural lapses are discovered by them rather than surfaced by you. With regulators increasingly rigorous and data-driven in their judgments, TeamConnect GRC protects you with procedural repeatability, thorough compliance forensics and superior holistic traceability of your organization’s actions.

Regulations
Collaboration with regulators, internal team, outside counsel and relevant contractors is essential to unifying the information streams about regulatory change and understanding your obligations. You must be able to reference existing regulations, changes already coming, proposed changes under consideration and the impact of regulations, to be able to responsibly comply. TeamConnect unifies the pertinent information streams, individual contributors and the group workflow accountability, creating a referenceable record of all participation. Policies & Procedures
Response to regulation must include detailed follow-through in business operations. Compliance officers and regulatory managers along with key managers must work with relevant line-of-business owners to ensure operating practices embed processes and behavior compliant with rules. TeamConnect is the information backbone for developing and implementing policies, providing the means to establish and document procedures and communicate them to staff. Attestation of policy execution is supported via email or paper, and training on policies & procedures can be centrally referenced. Controls
Once policies managing GRC are in place, how do you make sure policy becomes sustainable practice? You have to support internal audit of practices, sampling to determine the efficacy of GRC procedures using branch office visits, continuous tracking of disputes resolution and customer complaints, and get a unified view of both offline and online channels for relevant communications. Regardless whether your organization tends toward cooperative or adversarial relationships between dependent functions, TeamConnectGRC provides the collaborative features to support controls over practices and procedures, and the recall to satisfy accountability. Remedial Action
No matter how perfect your procedures on roll-out, the practical reality is that people make mistakes and practices fall out of compliance over time. Discipline wanes. Staying on track with GRC concerns requires remedial action plans and tracking for revisions to procedures. Procedure gaps must be identified, filled and tracked for effectiveness. Moreover, proactive remedial action pays, as compliance audits by regulatory agencies (e.g. SEC, FDA, FNRA) tend to be more punitive if procedural lapses are discovered by them rather than surfaced by you. With regulators increasingly rigorous and data-driven in their judgments, TeamConnect GRC protects you with procedural repeatability, thorough compliance forensics and superior holistic traceability of your organization’s actions.

 

Reduce fines and grow responsibly, embracing GRC

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Governance, risk and compliance can pose difficult challenges to the smooth operation of an organization accustomed to functioning for speed and responsiveness. All industries are subject to enhanced oversight, but Energy & Utilities, Financial Services and Pharmaceuticals are particularly regulated and vulnerable to the consequences of falling out of compliance with proliferating controls. GRC requirements can seem daunting and threatening, leading many to hope they’ll go away or not apply. Denial is a mistake, however. Instead, cut the problem down to size with Mitratech’s help.

Managing your GRC obligations falls into place when you organize your actions around four simple principles, and follow through with corresponding systems to execute on them:

• Know your compliance circumstances
• Know your response
• Do what you promise
• Prove what you did 

 

At the point of accountability, demonstrating all four principles were followed is paramount for establishing your regulatory integrity. To that end, TeamConnect GRC focuses collaborative accountability functionality into four corresponding areas:

Regulation: Collaboration with regulators, internal team, outside counsel and relevant contractors is essential to unifying the information streams about regulatory change and understanding your obligations. You must be able to reference existing regulations, changes already coming, proposed changes under consideration and the impact of regulations, to be able to responsibly comply. TeamConnect unifies the pertinent information streams, individual contributors and the group workflow accountability, creating a referenceable record of all participation.

Development of Policies & Procedures: Response to regulation must include detailed follow-through in business operations. Compliance officers and regulatory managers along with key managers must work with relevant line-of-business owners to ensure operating practices embed processes and behavior compliant with rules. TeamConnect is the information backbone for developing and implementing policies, providing the means to establish and document procedures and communicate them to staff. Attestation of policy execution is supported via email or paper, and training on policies & procedures can be centrally referenced.

Controls: Once policies managing GRC are in place, how do you make sure policy becomes sustainable practice? You have to support internal audit of practices, sampling to determine the efficacy of GRC procedures using branch office visits, continuous tracking of disputes resolution and customer complaints, and get a unified view of both offline and online channels for relevant communications. Regardless whether your organization tends toward cooperative or adversarial relationships between dependent functions, TeamConnect GRC provides the collaborative features to support controls over practices and procedures, and the recall to satisfy accountability.

Remedial Action: No matter how perfect your procedures on roll-out, the practical reality is that people make mistakes and practices fall out of compliance over time. Discipline wanes. Staying on track with GRC concerns requires remedial action plans and tracking for revisions to procedures. Procedure gaps must be identified, filled and tracked for effectiveness. Moreover, proactive remedial action pays, as compliance audits by regulatory agencies (e.g. SEC, FDA, FNRA) tend to be more punitive if procedural lapses are discovered by them rather than surfaced by you. With regulators increasingly rigorous and data-driven in their judgments, TeamConnect GRC protects you with procedural repeatability, thorough compliance forensics and superior holistic traceability of your organization’s actions.

 

Structure + Data = Peace-of-mind

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TeamConnect GRC provides communications, workflow and tracking structure to ensure a holistic, inter-disciplinary approach to governance, risk and compliance. But without comprehensive pertinent data, having an application alone isn’t enough. Our customization features and capabilities ensure that you can manageably populate regulation data and map your workflow to your specific business conditions.

You don’t have to settle for a rigid application structure that forces your practices to adapt to its limits. TeamConnect GRC becomes your single portal for entry and automated intake of regulation data. With TeamConnect GRC implemented, all actionable compliance data resides in an easily queried and searched Mitratech database.

 

TeamConnect unifies cross-functional requirements

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With a common, powerful, yet easy user interface, TeamConnect GRC serves as the common rail for compliance dissemination, tracking and enforcement as regulatory compliance migrates outside its traditional residence in corporate legal departments.

Regulation is burgeoning in formerly unregulated or lightly-regulated sectors. For example, financial ratings agencies ran free of regulation but are suddenly subject to an avalanche of new rules. In these environments, massive cultural change is mandated by regulation, not mere formalization of procedures. TeamConnect GRC aids and abets cultural change by accelerating the pace with which an organization can assimilate change, integrate communications, workflow and procedures, and function to a new standard.

 

Detailed functionality tailored to GRC

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Tailored to a compliance structure that reflects your organization’s business strategy, TeamConnect GRC monitors the risks that threaten your operating policies, corporate standards, and compliance with industry regulations. Centralized compliance management allows you to detect violations and take early corrective action with automated task routing, data collection, trending, and reporting. Automate a sustainable compliance program with preventive and detective controls.

• Generate compliance reports and gain efficiencies through work product reuse.
• Prioritize and manage compliance risks with internal checks and balances.
• Track obligations and forecast performance using compliance dashboards.
• Document inquiries, examinations, inspection reports, and annual reviews.
• Manage alerts, report customer complaints, and track incidents of money laundering with built-in workflows.
• Maintain an audit trail of transmittal of funds, validations of customer address changes, and modifications to account information.
• Monitor suspicious activities for relevance and reportability. 

 

Gain visibility into enterprise risk through TeamConnect GRC

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With a single point of control, TeamConnect GRC proactively manages litigation, compliance, and risk. TeamConnect allows you to document, track, manage, and report matters from one central location.

• Track matters from inception to resolution with an audit trail to provide evidence of review.
• Automatically assign matters and generate appropriate notifications and reminders with built-in workflows.
• Generate department-wide searches on matter information: fact patterns, settlement structures, and issue resolution.
• Aggregate matter information to improve communication and service delivery.
• Ensure consistency by automating routing tasks as matter information is validated for accuracy. Manage matters in a way that anticipates its use by regulators. 

 

Collaborate with peer departments and outside vendors with every participant on the same accountability footing

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• Support internal customers, in-house, and outside counsel in a mutually beneficial, collaborative relationship. Internal and external auditors can also access the highly secure system.
• Collaborate with internal customers, business units, company executives, auditors, and outside counsel.
• Enhance internal and external communication and share best practices.
• Synchronize process workflows and align the interests of all business partners. 

 

Report on risks in real time

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Executive dashboards and reports allow you to view all of your essential information in real time, with the ability to “drill down” to specifics. Vital governance, risk, and compliance metrics enable organizations to take proactive action against risks tracked at any level throughout the organization.

 

Easily adapt to new regulations

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Benefit from a technology investment that evolves as your business drivers and competitive pressures change. TeamConnect GRC offers the flexibility to grow with, adapt to, and perform according to your business requirements.

Configurable, scalable, and extensible, TeamConnect GRC is the most flexible compliance management solution addressing industry-specific and business-specific challenges, regulatory compliance issues, and future demands.

 

Integrate your existing applications

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Link all your applications into a single point of control. TeamConnect enables seamless integration with external applications and legacy systems through XML’s open standards. Integrate with departmental systems and partner compliance point solutions.

 

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