Regulated firms are required to have contingency plans in place to ensure that the business can continue to operate effectively in the event of a stress scenario. Firms often focus on customer-facing, operational and financial continuity, with considerable bias placed towards the revenue generating activities of the business. Compliance and risk systems are often deprioritised within the business continuity plan (BCP).
With the rapidly evolving threat of COVID-19, how equipped is your business to continue business as usual?
The rule books of regulators are written to be complied with in every situation. Since the financial crisis in 2008, there is a history of regulators fining companies for non-compliance with the legal or regulatory system, regardless of the disruption that firms are facing.
CCL CORE is a cloud-based compliance software solution that is managed by the Compliance Function, but utilised by all employees within the firm on a daily basis. The solution manages and maintains compliance BAU workflows such as PA Dealing, Gifts and Entertainment, Conflicts Management, Financial Promotions, Attestations, Incident and Complaint Management, and Certification of employees.
Centralised compliance activity such as Compliance Monitoring, Policy Management, Regulatory Reporting, Regulatory Liaison and Senior Manager Applications are managed through the platform, which is securely accessed via web browser. Your data in CCL CORE is housed in dedicated servers within our Microsoft Azure cloud solution.
When your business suffers from business disruption, rest assured that your employees will continue to access their compliance processes and information through CCL CORE, wherever they are working.