Post 2008, regulatory compliance in the financial, banking and insurance sectors has never been more important. Regulation and compliance are all about ensuring that finance organisations act as they are required to. In the UK the Financial Conduct Authority (FCA) or the Prudential Regulation Authority (PRA) are key authorities. Recent regulations including SM&CR are playing their part in driving new levels of effective compliance in the industry. However manual procedures are fast being over taken by digital RegTech solutions.
Senior managers are tasked not only with their own industry compliance but with the compliance of those teams they directly lead. Non-compliance may lead to personal fines and professional reputational damage. Its not a risk worth taking. Since 2016 SMCR has been impacting the financial sector and has been extended to all regulated firms who must achieve SMCR compliance by December 2019.
Accountability regimes require senior managers to drive a compliance culture within their organisations and Orchestra for Finance enables a real-time Read & Comply culture that is designed to underpin compliance and to drive a compliance culture. This is how we help you meet your regulatory requirements. Being able to prove that your employees are compliant with your latest published regulatory policies and procedures means that you can actively demonstrate to auditors that you are proactively driving compliance across all teams within your remit daily.
It doesn’t end there though. There are thousands of other non-FCA, compliance-related policies and standards that apply in every organisation. These cover everything from Health and Safety requirements to internal workplace behaviour policies. Orchestra for Finance allows you to generate policy read and comply lists to any employee in any team regarding any compliance policy and monitor their subsequent compliance levels.
Whether your focus is back office and administrative staff, support teams, new fast-track graduates, analysts, traders, brokers or managers, you now have a tool at your finger tips to push employee compliance to new levels.
For more information contact us on 0207 788 9445.