Regelmäßige Compliance-Bestätigung

Challenge

Enable stakeholders and policy managers to affirm that key policies and procedures are being followed and correctly implemented. What’s more, they have to make such an affirmation on a recurring basis, often yearly for these policies. Finally, these affirmations, if required, then need to be reported to the appropriate regulatory body and tracked internally for compliance purposes.

Solution

  • Create a clear business workflow enabling stakeholders and policy managers to work through the required stages for providing affirmation.
  • Ensure that details of an action are provided where compliance is not currently being fully met.
  • Route the affirmations to the correct stakeholders for review and approval.
  • Automated notifications at each stage of the process, ensuring stakeholders and involved parties are advised in real time when their input is required.
  • Centrally track all affirmations to understand where there are any outstanding or delayed requests.
  • Automatically remind stakeholders and policy owners when their affirmation is next due.

Vorteile

  • Tracking affirmations in a central system like PolicyHub provides the granularity needed to easily document compliance to regulators and authorities.
  • Creating a full audit trail that documents every step of the process, who was involved and what decisions were made.
  • Automating manual processes drives significant ROI and reduces errors.
  • Reporting dashboard and analysis features make it possible to quickly uncover high-risk trends or exceptions.
  • Easily adapt the affirmation process to changing business needs.