New and Enhanced Features on Compliance.ai: January
March 2, 2023
To welcome in the New Year, we’ve improved the look and feel of workflows and added significant new capabilities to our regulatory change management solution. We’ve made it easier to manage workflows and to speed up your regulatory research. As an example, you can now link multiple alerts to a single workflow, giving you the opportunity to fold multiple “carbon copies” into a single, easy to maintain workflow.
We continued enriching our regulatory coverage, most notably adding new content and regulatory updates for legislations, regulations, cybersecurity, banking, and finance related matters across the globe including Australia, Belgium, Brazil, Canada, China, the European Union, Mexico, United Kingdom and the United States.
Reduce time spent on repetitive compliance tasks using new workflow capabilities
Many of you create multiple, highly focused alerts to ensure that your regulatory change management team is notified about exactly the right changes. Until now, a single workflow could only be driven by one alert, requiring you to create and maintain multiple copies of the same workflow to orchestrate your compliance activities.
Now, we’ve opened the doors so you can link an unlimited number of alerts to one single workflow. If you have one team involved in multiple focus areas, you can add all the alerts relevant to that team to a single workflow, reducing workflow maintenance, minimizing potential errors, and simplifying reporting.
In addition, because the same workflow can only be added to a document once, adding multiple alerts to a single workflow ensures that even if the same regulatory change document appears in multiple alerts, your team will only have to complete tasks once.
To take advantage of this new capability, access Manage Workflows and delete any workflows you will no longer need. Then, edit your “primary” workflow, add all required alerts to the “Select associated alerts” field within Workflow Settings and save to create a single, unified workflow.
Multiple “carbon copy” workflows associated with the same team
Add all relevant alerts to a single workflow for a unified experience
Speed up regulatory review workflow management by using the updated Manage Workflows features
When you select your workflows to take advantage of the new one to many alerts to workflow functionality, you’ll notice we’ve revamped our workflow creation and editing process for an improved experience.
With the new design in our regulatory change management solution, you can:
Review Workflow and Task Settings in a sticky “right panel” section of the page
Expand or Collapse a single task or all tasks in a workflow with a single click.
Reorganize tasks within your workflow using the “Reorder tasks” tool found above the tasks.
Speed up Regulatory Intelligence research: One Source for Regulatory Intelligence: Expanding Regulatory Coverage
We continued expansion of our regulatory coverage. You can now follow recent regulatory updates across specific lines of business and jurisdictions:
Banking: related updates from Australia, Brazil,the European Union, and the US.
Cybersecurity: related updates from China.
Regulations: related updates from the North American Securities Administrators Association.
Legislations: related updates from Taiwan (CHN-TLY), and the EU Parliament.
Finance: related updates from US Federal Financial Institutions Examination Council, Minnesota, Australia, Canada, Mexico, and the United Kingdom.
Healthcare: related updates from the US Centers for Disease Control and Prevention, and Massachusetts (MA-DPH).
Securities: related updates from Ohio (OH-DOS).
Australia: updates from the Reserve Bank of Australia (AUS-RBA).
Belgium: updates from the Belgian Government (BEL-GOV)
Brazil: updates from the Banco Central do Brasil (BRA-BCB).
Canada: updates from the Financial Transactions and Reports Analysis Centre (CAN-FINTRAC), and the Office of the Superintendent of Financial Institutions (CAN-OSFI).
China: updates from the Cyberspace Administration of China (CHN-CAC), and the Taiwan Legislative Yuan (CHN-TLY)
European Union: updates from the European Banking Authority (EU-EBA), and the European Parliament (EU-PARL).
Mexico: updates from the Comisión Nacional Bancaria y de Valores (MEX-CNBV).
United Kingdom: updates from the HM Treasury(UK-HMT)
United States: updates from the Federal Financial Institutions Examination Council (FFIEC), the Federal Reserve (FRS), Centers for Disease Control and Prevention, Department of Veteran Affairs (VA), Massachusetts Department of Public Health (MA-DPH), the Maryland State Attorney General (MD-OAG), Minnesota Commerce Department (MN-CD), New Hampshire Banking Department, and the Ohio Division of Securities (OH-DOS).
Tip of the Month: Update your notification email preferences to receive the information you want when you want it
Receiving both high-level information such as agency, topic and enforcement emails as well as tactical alerts related to workflow tasks, and even shared alerts and folders is a critical element of compliance orchestration.
To ensure you receive the alerts you want when you want them, update your Email Preferences anytime. We know that most people like to receive weekly topic, enforcement and agency emails, task notifications focused on new, near-due, and overdue tasks daily, and emails when a teammate shares an alert or folder, so we default all new users to these settings, but if you are a longer-term client or prefer to work on a different cadence, access Profile > Account > Alert Settings to change your preferences at any time. You can even change your preferred day and time for alerts and task emails.
Update your Default Filters at any time to take advantage of our new regulatory sources.
We hope you enjoyed this product update!
Client feedback is always welcome. Please contact our support team with any questions or feedback or schedule a time to review our new features. Remember that you can always access the Training Center under the Help (?) section of the platform for more information.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.