Streamline Risk and Compliance Management
Our Compliance Monitoring Plan (CMP) module is designed to centralize, automate, and optimize risk and compliance processes. From managing controls, viewing risks and associated regulations landscape, to scheduling annual compliance testing, CMP simplifies compliance, ensuring businesses stay audit-ready and maintain regulatory excellence.
Benefits of the CMP Module
- Boost Efficiency: Reduce manual tasks with automation and centralized data.
- Improve Accuracy: Minimize errors and ensure consistent compliance practices.
- Enhance Collaboration: Foster seamless collaboration across teams with shared access to compliance data.
- Maintain Audit-Readiness: Always be prepared with a complete record of risks, controls, and testing activities.
- Support Decision-Making: Leverage comprehensive reporting to make informed, data-driven decisions.
Key Features of the CMP Module
Integrated Risk Management
Proactive Compliance Through Risk-Based Management
Managing compliance risks requires a structured and dynamic approach. Our module enables organizations to document, categorize, and analyse risks in real-time, ensuring all emerging threats are tracked and mitigated efficiently.
Key Features
Central Risk Register
- Maintain a structured database of all risks, including Conduct, Financial, and Operational risks.
- Associate each risk with relevant compliance topics for easy reference and regulatory alignment.
Impact Analysis
- Identify entities affected by each risk and map them to specific rule book references.
- Strengthen compliance by ensuring every risk is assessed against applicable regulations.
Export & Filtering
- Generate on-demand reports for audits and executive reviews.
- Filter risks based on date, category, or impacted entity to streamline risk analysis and reporting.
Benefits
Maintain an up-to-date, centralized risk library to ensure no risk is overlooked.
Improve decision-making with clear, structured risk documentation.
Enhance regulatory alignment by linking risks directly to compliance rules.
Dynamic Controls Management
Strengthen Compliance with a Robust Control Framework
Ensuring compliance requires a well-defined control structure. Our module provides a centralized library of all compliance controls, helping organizations establish accountability, operational clarity, and direct risk mitigation strategies.
Key Features
Comprehensive Control Library
- Maintain a detailed inventory of all compliance controls, including descriptions, owners, and accountability.
- Assign clear responsibilities to ensure compliance efforts are well-managed and auditable.
Operational Details
- Capture how each control operates, including its processes, oversight steps, and approval workflows.
- Ensure transparency by documenting procedures that keep controls effective.
Direct Link to Risks & Tests
- Seamlessly map each control to the risks it mitigates and the tests that validate its effectiveness.
- Strengthen compliance monitoring with direct linkages between risks, controls, and assessments.
Benefits
Provide a single source of truth for all controls, ensuring consistent application across the organization.
Improve accountability by assigning clear ownership for each control.
Enhance compliance readiness with detailed control documentation and risk mapping.
Structured Testing & Validation
Automate & Standardize Compliance Testing
Testing compliance controls is essential to maintaining an effective risk and compliance framework. FinregE provides structured, scheduled, and automated compliance testing processes to ensure continuous monitoring.
Key Features
Test Procedure Repository
- Store step-by-step test instructions, responsibilities, and frequency schedules (weekly, monthly, quarterly, etc.).
- Ensure consistency in compliance testing by standardizing procedures across teams.
Operational & Effectiveness Levels
- Distinguish between Level 1 (Existence) and Level 2 (Operational) testing to evaluate both presence and functionality of controls.
- Strengthen compliance confidence by ensuring every control is operationally effective.
Scheduled & Automated Tracking
- Automate compliance test schedules and receive reminders for upcoming tests.
- Stay proactive with built-in alerts for overdue or pending tests.
Benefits
Reduce manual effort with automated compliance test scheduling.
Ensure continuous compliance validation with structured, recurring assessments.
Identify and address weaknesses proactively with regularized control testing.
Real-Time Assessments & Follow-Up
Real-Time Compliance Assessment & Insights
Understanding the effectiveness of compliance controls requires clear, actionable insights. Our module provides structured assessment tracking, ensuring compliance teams can take immediate action when risks arise.
Key Features
Real-Time Assessment Outcomes
- Log test results as Pass, Fail, Passed with Observation, or Could Not Test for every control test.
- Quickly identify non-compliant areas requiring immediate attention.
Detailed Commentary & Justifications
- Provide in-depth context and explanations for each assessment result.
- Ensure audit-readiness with comprehensive documentation of compliance decisions.
Holistic Compliance Snapshot
- View and filter assessments by “Recommendations/Actions,” “Assessments in Progress,” or “Completed Assessments.”
- Gain a quick status update on all compliance tests and remediation efforts.
Benefits
Gain immediate visibility into control effectiveness.
Identify weaknesses and implement rapid remediation.
Maintain a strong audit trail with detailed assessment records.
Intuitive Dashboards
Transforming Compliance Data into Actionable Insights
Managing compliance efficiently requires more than just data—it demands clear, structured visualizations that simplify risk analysis, enhance oversight, and improve decision-making. Our CMP module includes dynamic visual tools that help organizations trace regulatory obligations, link controls to risks, and ensure full compliance coverage with ease.
By converting complex compliance relationships into interactive, intuitive diagrams, teams can quickly identify gaps, streamline processes, and proactively manage risks.
Key Features
Process Flow Visualization
- Easily track the path from regulatory requirements and risks to corresponding controls, tests, and assessments.
- Understand how each compliance element interacts and verify that no risk is left unmanaged.
Comprehensive Compliance Dashboard
- Get a bird’s-eye view of compliance coverage, making it easier to spot potential gaps.
- Identify unlinked risks, missing controls, or overdue assessments with real-time insights.
Time-Saving Insights & Automated Gap Detection
- Quickly pinpoint compliance gaps and focus remediation efforts on high-risk areas.
- Reduce manual effort in identifying missing or improperly linked compliance components.
Benefits
See your compliance structure in one place to make faster, more informed decisions.
Reduce the risk of compliance failures by ensuring every requirement has a corresponding mitigation action.
Save time on audits with a structured, automated compliance visualization tool.
Why Choose FinregE?
- Centralized Compliance Hub: Consolidate all compliance data, reducing manual effort and the risk of scattered information.
- Enhanced Risk Visibility: Gain clear insights into potential risks and their mitigation progress in real time.
- Automated Testing: Eliminate manual scheduling and ensure control testing is conducted regularly and efficiently.
- Flexible Risk-Control Mapping: Adaptable to complex risk scenarios, allowing multiple risks and controls to be managed seamlessly.
- Advanced Reporting: Get actionable insights with detailed reports that support decision-making and regulatory compliance.
- Scalability: Scalable for businesses of any size, from startups to multinational corporations.
- Regulatory Readiness: Stay ahead of ever-evolving regulations with features designed to meet global compliance standards.
- User-Friendly Interface: No steep learning curve – intuitive design makes it easy for all users, regardless of technical expertise.
- Customizable Solutions: Tailor the CMP module to fit your organization’s unique compliance framework.
- Cost and Time Efficiency: Streamlined processes save time, reduce operational costs, and enhance overall compliance management.
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