Voices: Being Ready When Regulators Come

 

 

By Carlos Guillen, President & CEO BasisCode Compliance

Upgrading technology is the secret to staying in good stead with regulators.

By streamlining risk assessments, compliance reviews and ongoing compliance management, technology can help financial firms and compliance consultants maintain a culture of compliance, which regulators are making a top priority this year.

Technology can play an even more important role in reaction to a breach, delivering hard evidence of a company’s efforts to maintain an audit-ready business. Here’s how:

  1. Proactively identify, mitigate and manage compliance risk
  2. Actively maintain and document P&Ps
  3. Maintain fluid communication between employees and supervisory staff

[Originally Published at Financial Planning]