One of the key responsibilities of any Compliance function is to provide assurance, inform and escalate the state of health of Compliance to senior management. As such, good quality management information is essential in delivering the compliance message to senior management and the business alike, as well as pre-empting potential trends and issues.
CCL C.O.R.E houses a large volume of compliance data, which can be accessed and extracted to create insightful management information. Whether it is reporting on the general health of compliance or conflicts management or compliance monitoring, CCL C.O.R.E can report on it.
The reports available include:
- Compliance Monitoring
Monitoring reports can be created using a large number of data points within the system. Reports can be generated, feeding from information such as scheduled date for testing vs actual date of testing; RAG outcome of monitoring; incidents raised from monitoring; outstanding remediation actions; person responsible; business area; jurisdiction; regulator, and more.
- Attestation Management
The deployment and management of attestations is a crucial part of modern compliance control and is the appointment of responsibility and ownership that regulators like to see within regulated organisations. CCL C.O.R.E will report on the delivery and completion of attestations, either on an attestation level, an employee level, a business unit level or jurisdiction level.
- Conflicts of Interest
Analysis of conflicts arising within the business is a critical control. With CCL C.O.R.E, firms can assess where conflicts arise, by reporting on the three pillars of employee conflict: gifts and entertainment, personal account trading and outside business interests. Reports can be focussed on individuals, departments, business units, or jurisdictions.
- Complaints, Incidents and Breaches
CCL C.O.R.E allows you to report on a variety of incidents. Incidents are broken down into complaints, trade errors, monitoring incidents, and general incidents. Furthermore, each of these incident types can be tagged as a breach, either reportable or non-reportable, allowing breach reporting to be provided to senior management. The data can be reported by individual, departments, jurisdiction or regulator.
- Senior Managers & Certification Regime (SM&CR)
The requirements of SM&CR are far wider reaching than the individuals themselves. One of the biggest challenges of SM&CR is the requirement for oversight and control. In addition to reporting on Senior Management Functions (“SMFs”) and Certified Individuals, CCL C.O.R.E can be used to develop and deliver management information to SMFs specific to their area of responsibility.