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Policy manager

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Policy Manager

Keeping policies current and staff informed in a fast-moving regulatory environment is an ongoing challenge. When a regulatory change occurs and there is no procedure in place to reflect the development, institutions can face costly consequences.

Traditional Approaches to Policy Management

Many firms and banks expose themselves to unnecessary risks of regulatory failure by using archaic policy and document management processes that are disconnected from the external regulatory environment that forms them, lack centralized control and leave no clear audit trail to satisfy regulators.

Traditional Approaches

Paper-based: out-of-date manuals gather dust on shelves

Word or PDF documents: buried and dormant on servers or intranet

Generic document management software

The Impact

Limited insight into who has accessed, read and understood policy

Internal policy and procedure out of sync with current regulation

Laborious to update and maintain

Inefficient distribution and accessibility

Exposes management to regulatory and reputational risk

Reconnecting Regulation and Policy

Complinet Policy Manager™ is an enterprise-wide content management and governance system built specifically for the compliance profession. Only Policy Manager directly connects internal policies and procedures with relevant external governing regulations and rules. This approach naturally reduces exposure to regulatory risk by enabling the most rapid and appropriate response to evolving regulatory developments.

Policy Manager allows the user to control, connect and share policies across the business in a simple, transparent way. The system provides records of who has read and understood policy, and connects directly with relevant e-learning initiatives for understanding the regulatory responsibilities across the business. It also provides the evidence needed to demonstrate compliance to the regulator quickly and effectively.

This proactive and sustainable approach to policy management allows an organization to refocus business efforts on day-to-day operations, improve the overall risk management process, and reduce costs.

Policy Manager Benefits

Live and active linkage of corporate policy, manuals or procedures with relevant external regulation and change

Tracking of upcoming regulatory amendments and setting future triggers for known policy updates

Fully electronic workflow supporting light-touch management

Complete oversight of who has read and understood policy with full user attestation

Complete and auditable version control

Compliance-ready Manuals

Lofchie’s Policy and Procedure Manuals (for US Broker Dealers) Complinet has teamed up with leading regulatory lawyer Steven Lofchie, partner at the law firm Cadwalader, Wickersham & Taft LLP, to create Lofchie’s Policy and Procedure Manuals. Lofchie’s Manuals are straightforward compliance and supervisory procedure manuals, delivered on Complinet’s hosted Policy Manager platform, that address the needs of financial firms with comprehensive, standardized policies and procedures. Lofchie’s manuals are invaluable for new firms creating their initial policy and procedure manuals or those firms wishing to refresh existing manuals with industry-standard current content.

Visit http://www.complinet.com/lofchie/ for more information.

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