Governance risk and compliance is the integration of capabilities which makes an organization capable of achieving objectives reliably, addressing uncertainties and act with integrity. This includes the work done by various departments such as compliance, internal audit, compliance, legal, finance, risk, HR, IT etc. What you didn’t know about governance
Before the era of automation, compliance management was a nightmare for most firms. Manual compliance management software can be an extremely painstaking process; it is highly time and cost consuming and human errors are inevitable. Manual handling may lead to fragmentation and dispersion of data making compliance activities extremely overlapping
The continuous digitalization of the world leads to perpetual need of adjustments in regulatory compliance. In a world of growing data breaches, cyber threats and digital faults, organization need more protection when it comes to interaction of customers and businesses worldwide. How can you automate regulatory compliance Compliance is not
We live in a world of state-of-the-art digital tools and rapid technological advancements. This makes organizations extremely vulnerable to money laundering, fraudulent monetary transactions among others. software is one such important tool that can help organizations in mitigating risks to a great extent Therefore, it becomes imperative for financial institutions
A risk-based approach to compliance comprises of identifying risks within the organization and then building a compliance program accordingly. Such a structured approach to compliance monitoring helps in ensuring that the standard of monitoring is consistent across all business areas as well as that all risk areas are properly covered.
Given the increasingly interconnected and tech-savvy global environment, the probability of enterprise risk in businesses has been on a steady rise. In such a scenario, it is extremely vital for top management to adopt a holistic approach to manage risks. Tips that will help you overcome enterprise risk Enterprise risk
Financial institutions have always been under immense pressure to comply with an ever-growing set of regulations. Irrespective of their sizes, all the financial institutions are now under the microscope which means that achieving regulatory compliance is no longer optional. Although meeting regulatory standards have never been a cake walk but