Regulatory compliance certification season is well under way. And with it, the stress of documentation, follow-up, cross-checking, and a mind-bogglingly intricate network of spreadsheets keeping track of your progress.
Such headaches beg the question: does every certification season have to be this way?
Because after all, whether you’re a one-person firm or a 200-person machine, the ever-evolving regulatory landscape can make compliance a little daunting. The answer? Finding an integrated solution to automate processes and ease the tension of certification season.
Best Practices to Better Your Certification Season
Finding the right technology partner can, in and of itself, be an intimidating process. How do you know the platform will serve your needs? Will the solution adapt to changing rules and regulations, providing technological support for years to come?
Luckily, there are a few key elements to help you rule out the solutions that won’t work for your team and allow you to focus on those that will.
1.What kind of certification options are available within the platform?
A really good platform will allow for fully customizable form creation, enabling your compliance team to finely-tailor certifications to your different audiences. However, at a base level, the platform should include policy-based, data-driven, and question/answer certification options.
2. Does the platform allow you to monitor suspected regulatory violations?
What’s a really easy way to turn a good day into a bad one? Getting hit with a regulatory violation that could have been avoided with proper monitoring. A robust certification regime should allow for careful monitoring and documentation of conduct violations or unexpected attestations that may require due diligence on the part of the compliance team.
3. Does the platform allow you to easily reference any and all employee financial transactions?
Your certification(s) most likely cover all potential risk factors of your employees, including trades, political contributions, broker accounts, and material non-public information (Oh My!). These records should be accessible within a certification for one-step attestation.
4. Can the platform send regular notifications to employees?
No one wants to spend their day manually sending out reminder emails and notifications…especially when you have a hundred other projects to manage. A digital platform should allow for the regular scheduling of reminder emails so that your firm can remain on-top of your deadlines.
5. How easy does the platform make reporting on certifications and investigations?
Should regulators come knocking on your door, the last thing you want to do is tell them you don’t have the necessary reports on-hand. Careful reporting of potential violations and due diligence should be available at the click of a button.
Why ComplySci: The Right RegTech is Your Key to Managing Regulatory Compliance Certifications
Leveraging an integrated technology platform can be the difference between a good season and a stressful one. The ComplySci® platform was designed to help automate processes and find those hidden efficiencies, enabling compliance teams to streamline their workflow and take (some of) the stress out of managing their regulatory compliance certifications.
1.Tailor Made Forms to Tailor Fit Your Needs
From question sets to rich text formatting, the ComplySci platform allows your team to create the certification(s) best suited to your firm’s needs and requirements.
2. Violation Monitoring
Easily track and monitor any potential employee violations, mitigating potential risk and liability. Better yet? ComplySci conflict check ensures no human error will result in big ticket fines.
3. Full History of Employee Data Records
Leverage a full history of each employee’s data records to understand potential risk and track any recurring activities or incidents.
4. Easy Distribution (And that Includes Reminders and Tracking)
Say goodbye to your never-ending excel spreadsheets and hello to easy tracking and management. With the ComplySci platform, you can easily distribute certifications and attestations and automatically send reminders to help ensure every employee submits their certifications on time, every time. Can you say, that was easy?
5. If It’s Not Reported It Didn’t Happen
ComplySci offers robust reporting protocols, making it easy to document and access your certifications should regulators ever come knocking.
Ready to see how the ComplySci platform can elevate your compliance program and help you more easily manage your regulatory compliance certifications? Schedule a demo today!