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SmartComply

In an environment of continuously evolving regulatory requirements and stakeholder expectations, compliance functions must effectively identify, assess, manage and mitigate risks while adopting risk-based approaches to reduce complexity. To meet these demands, organizations need to modernize key compliance processes.

Here is how SmartComply can help.

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Introducing SmartComply

Our end-to-end regulatory compliance risk management solution helps you structure and document your risk-based compliance monitoring plan.

Your challenges

Financial institutions are facing increasing regulatory expectations and scrutiny regarding the effectiveness of their compliance risk management framework. As compliance risks evolve and multiply, the effort required to maintain risk assessments and monitoring activities increases.

To address these challenges, institutions of all sizes are increasingly moving away from manual, Excel-based processes and adopting integrated digital solutions that strengthen oversight.

Accuracy and completeness of compliance risk repository

Comprehensive identification and assessment of compliance risks.
Timely updates to the compliance risk repository.

Delays in compliance monitoring plan (CMP) execution

Lack of a risk-based approach increases monitoring workload.
Maintenance of clear and traceable links between compliance risks, and monitoring activities.

Production of compliance reporting

Significant effort required to prepare compliance reports.
Maintaining consistent reporting quality.

Maintenance of centralized compliance risk management database

Centralized tracking of compliance activities and records.

Follow-up of observations, findings and incidents.

Documented evidence of four-eyes reviews and maintenance of comprehensive audit trails.

Our solution

SmartComply is an end-to-end compliance risk management solution designed to centralize the compliance function’s ecosystem. This multi-channel, web-based platform integrates dedicated modules for the identification and assessment of compliance risks, the definition and execution of compliance monitoring activities, and tracking of compliance recommendations and incidents.

The solution also features automated reporting capabilities, enabling the aggregation and consolidation of key data across the compliance risk management framework. By providing a single source of truth, SmartComply supports more informed decision-making.

Compliance risk catalogues

Access to industry-specific compliance risk catalogues tailored to your organisation’s activities and regulatory environment.

Quarterly regulatory screening to identify relevant regulatory developments.

Ongoing proposal of new compliance risks to keep the framework current.

Market-aligned compliance risk management framework

Dedicated module supporting compliance risk assessment and management.
Integrated CMP module enabling risk-based, multi-year monitoring planning.
End-to-end workflow capabilities supporting the allocation, execution and tracking of compliance controls across team members.

Incident and observation management

Dedicated modules for managing observations, recommendations and incidents.
Centralized oversight of action plans and remediation.

Oversight and reporting

Real-time access to compliance data.
Interactive compliance dashboards and heatmaps.
Advanced automated reporting capabilities.
Comprehensive audit trails supporting audit and regulatory reviews.

Group-wide implementation

Interconnected environments enabling centralized oversight of branches, subsidiaries and affiliated entities.

Solution and infrastructure

Web-based, user-friendly solution that can be deployed either as a hosted service or on-premises.
Secured user authentication through multi-factor authentication (MFA).
Secured and encrypted data flows.
Integrated document retention and archiving capabilities.
Data hosted in Luxembourg with secure multi-site backup and business continuity measures.

Our compliance risk management operate services are tailored to your organization’s specific needs, providing flexible support at sustainable cost.

Compliance risk operate services

Our compliance risk operate services support the ongoing management of your compliance risk framework.

We integrate relevant new risks into your compliance framework. Experienced compliance professionals design and incorporate relevant monitoring activities into the CMP.

Execution of compliance controls

Our compliance control operate services provide a collaborative, outcomes-focused approach to the execution of compliance monitoring activities. Experienced compliance professionals can be deployed on-demand to perform CMP controls and monitoring activities efficiently and consistently. SmartComply helps streamline execution and maintain robust documentation.

How compliance risk management operate works

Quality with agility

Access a flexible combination of talent and technology.
Access a pool of experienced compliance professionals with knowledge of all key regulatory domains.

Harness Disruption

Regulatory expectations are changing, and the scope of compliance work is increasing. With these evolving demands, it is time to move beyond conventional, manual-driven approaches with technological solutions that automate processes and deliver high-quality outcomes.

Operate with confidence

By operating with Deloitte, you can be confident that the outcomes and effectiveness of your compliance operations will deliver continuous value.

Embed continuous advantage. Operate with Deloitte.

Organizations are looking to grow and innovate. New disruptive technologies are both making and breaking them. With sought-after skills often scarce and an evolving legal and regulatory environment challenging, it’s hard to keep up, let alone respond to the pace of change that’s reshaping business today.

Deloitte offers you a new way to embed continuous advantage by delivering the right combination of hard-to-source domain and industry talent, technology and transformation know-how, where they’re needed most. Even as needs change.

You remain in the driver’s seat while we focus on delivering outcomes. From cybersecurity to tax compliance, to custom application creation and ongoing development, our unique portfolio of Operate services allow you to perform and innovate continuously, accelerate growth, and manage risk with confidence.

This is an opportunity to move beyond traditional outsourced services into a world where you operate with agility, through embedded experience, cutting-edge technology and automation, data insights, and advantage needed to maximize opportunities again and again.