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SmartComply

Our regulatory compliance solution

Compliance modernization

The business environment is continuously exposed to new compliance risks challenging the capacity of compliance functions to effectively identify, assess and mitigate the full spectrum of risks related to new regulations or procedures. In this context, certain compliance milestones are expected to be strengthened and enhanced, including:

COMPLIANCE FRAMEWORK

Build up an extensive compliance risk catalog Structure the compliance framework to align regulatory, with compliance risk and internal controls. Evaluate compliance risk exposures and prioritize Set up a methodology to assess inherent risk exposure. Align risks, controls, and efforts Design a compliance risk assessment and monitoring program and prioritize control execution in light of compliance risk assessment results.

SCOPE AND REPORTING

Ensure complete documentation of the compliance function’s monitoring scope Build a compliance risk catalog addressing the bank’s entire range of activities. Report on compliance risk exposure and monitoring program to top management Report on key results and findings. Manage several group entities Build up aggregation functionalities to maintain a consolidated view for group oversight and follow-up.

EFFECTIVENESS AND DEFICIENCIES

Capture and embed operational events in a timely manner and impact compliance risk assessment accordingly Capture operational events and assess their impacts on compliance risk profile. Collect, monitor, and follow-up internal control deficiencies Build up a framework to help compliance officers to score the result of their work. Assess ‘how good’ the internal control framework is at mitigating compliance risks

SmartComply

Our digital compliance solution

Web-based engine, hosted in a secured environment and remotely accessible. It helps our client (namely compliance and/ or risk control function) to better follow-up on its risk profile (primarily compliance and regulatory risks) and monitoring program as well as internal control deficiencies while offering reporting and aggregation capacities to support the function in its communication.

Our vision

The compliance function needs to effectively manage its compliance risk exposures in a continuously evolving regulatory landscape by setting up an adequate assessment framework and monitoring program through an organized channel.

Our proposed solution: Compliance risk assessment and monitoring program

Advantages of utilizing SmartComply

Structured repository and group management

  • Structured channel to identify and manage compliance risks and monitoring activities
  • Compliance framework, remotely accessible
  • Assessment methodology customizable with client expectations
  • Dynamic and multiple access, allowing user to easily switch among geographical and legal entities
  • Ability to maintain several locations and propose a consolidated view for group management purposes

 

 

Access management and consistency

  • Application developed using latest technologies (SQL, React, RabbitMQ)
  • Access to the platform centrally managed with different levels of access available
  • Integrated processes allows direct link between both risk assessment and monitoring activities
  • Alignment of compliance risk and control scope
  • Embedment of the solution in a secured environment (DBoard)

 

 

Planning

  • Dynamic planning with a real-time view of the delivering capacities
  • Individual and/or consolidated view of planning of control activities
  • Personalised planning

 

 

Recommendation follow-ups

  • Conclude each control
  • Possibility to issue observations
  • Follow-up on observations and recommendations

 

 

Compliance log

  • Dynamic log to timely capture compliance incidents

 

 

Visualization and reporting capacities

  • Aggregation and visualization of consolidated data
  • Dashboarding capabilities through heat maps and graphics

 

 

Technical and security environment

SmartComply is hosted by DBoard infrastructure

The SmartComply app is embedded in DBoard which is a securitized environment using specific security features and authentication mechanisms. Users can connect to the application using a browser via multiple devices (including computers, tablets, smartphones etc.). The user must log on to DBoard to access the app, ensuring a stringent security layer.

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