Obtain 100% awareness of policies, procedures, controls and risks

 

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The BIG problem

Establishing policies and procedures, non-financial risk management and controls provide a roadmap to help navigate day-to-day operations, ensure compliance with regulations and laws, give guidance for decision-making, correct potential issues and streamline internal process flows. Typically, this important work is executed in disparate documents and spreadsheets stored in a shared drive or enterprise content management system.

Simply identifying the appropriate regulations, policy, procedure, control creation, review and approve workflow, distribution and annual review cycles, are all significant pieces of work, not helped by version control, bandwidth and geographical challenges.

The cost of the problem

Whether related to compliance failures, misconduct, technology, or operational challenges, there is a large downside. In 2017, $26.5 billion was levied against financial institutions for misconduct, sanctions breaches, bribery, tax evasion, fraud and money laundering.

The reputational damage can hit hard and there are also the personal consequences for senior managers, who are increasingly being held accountable for poor practice.

By clearly outlining expectations and practices, a well-maintained compliance landscape can prevent incidents that could result in lawsuits, fines or other enforcement actions. If a problem arises, regulators and courts will often look at company policies to see if the organization is at fault. Outdated policies could mean that your organization is no longer compliant with ever-shifting laws and regulations. This can have significant ramifications.

The solution

R1 Compliance  is the most effective way to manage policies, procedures, non-financial risks and controls. Unlike traditional solutions, our app automates regulatory intelligence, linking, traceability and workflow, while providing standardised templates, a single source of truth, and full publishing capabilities.

R1 Compliance business value

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Increase collaboration and employee productivity by 200%
Reduce review and approve cycle times by 50%
Obtain 100% visibility of defined risks and controls on demand
Ensure 100% traceability between related documents
Manage 100% of established policies and procedures

Powerful capabilities

AI-assisted tagging and linking

Understand the impact of new information for complete visibility and monitoring.

Collaborative authoring

Create policies, procedures, NFRs and controls in collaboration with internal and external experts.

Automated review and approve cycles

Let the system organize and remind reviewers and approvers

Compliance planning

Manage the complete compliance lifecycle with automated processes, SLA tracking, gap analysis and future planning.

Standardized templates

Standardise document templates and common clauses.

360-degrees data analytics

Comprehensive dashboard and drill-down reports for real-time progress across entire compliance lifecycle.

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