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Catastrophic rogue trading scandals in the USA, Europe and Australia reveal that even the most sophisticated automated transaction monitoring systems fail to detect fraud of the greatest scale committed by those with detailed inside knowledge.
Internal audit and compliance reviews are the most powerful way to determine whether procedures are being followed with effective control systems in place.
The CMO COMPLIANCE solution is used by some of the largest banks in the world. It provides online, offline, mobile and self assessment tools, with the flexibility to set up and conduct audits, assessments and reviews against any compliance regulation, policy or procedure.
CMO COMPLIANCE is highly configurable software that is most well suited to multi site/multi user deployments for large corporations and regulators in the Financial Services Sector who face greater challenges to ensure compliance in today's increasingly regulated environment.
Given its flexibility, users can configure all functions including workpapers and checklists, scoring, grading and notification parameters. Hence it is idea for situations involving financial advisers, planners, brokers and agents at different global locations.
Financial Service organizations face legal and financial risks when managing compliance, as well as the risk of damaging an organizations image and reputation. These risks in turn affect and organizations value and business model.
Faced with an increasingly global business environment with ever stricter laws and regulations, organizations are finding compliance requirements more and more complex and difficult to control.
Further, reporting and management processes take up time, resources and energy, both for management and the company's different operational units.
This is where CMO COMPLIANCE™ enables companies to automate audit and assessment management, thereby reducing the administrative burden and associated costs. This results in operational performance improvements with the following benefits:
- Sharing of best practices
- Continual Performance Monitoring & Optimisation
- Automatic Workflow Notifications & Reminders
- Reduction in duplication & manual processes
- Reduction in administrative burden & costs
Hence CMO COMPLIANCE™ enables organizations to improve the reporting and management of audits and assessments, manage their risks, reduce costs and streamline business processes thereby delivering organizational improvement.
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