New and Enhanced Features on Compliance.ai: March 2022
April 13, 2022
Over the past month, we have continued to focus on aligning our platform with your practices and systems, further improving our workflow functionality and completing the suite of SCIM endpoints. In addition, we launched a new Training Center to help you become a Compliance.ai platform expert through a series of self guided courses.
We also continued enriching our coverage of US state legislation and regulations, plus added regulatory updates for Banking, Insurance, Employment, and Taxation. We’ve also enhanced our coverage of sources from the EU, Bahrain, Cayman Islands, Ireland, UK, and Japan.
Elevate your Compliance.ai skills using our new Training Center
Whether you are a new Compliance.ai user or a seasoned pro, you’ll find training courses to suit your needs in our new Training Center.
Scan available training courses or search for specific topics to fine tune your understanding of Compliance.ai. Courses are designed to allow you to learn at your own pace and include both extensive videos and how-to documentation.
Watch this short video to learn more about the Training Center.
Manage full user lifecycle with enterprise identity management: New SCIM endpoints
If your IT team is considering incorporating Compliance.ai into your company’s centralized roles and entitlement management system, we are pleased to announce Compliance.ai now has full user lifecycle management capabilities available via our SCIM 2.0 (The System for Cross Domain Identity Management) compliant endpoints. Not only can you manage Compliance.ai user roles, now you can provision and deprovision users for a more comprehensive control experience using your corporation’s identity management systems like OKTA, SailPoint, etc.
If you or your IT team would like to manage users via your own corporate identity access/roles management system rather than using Compliance.ai’s web-based user management capabilities available in our Team and Pro editions, visit Compliance.ai SCIM Identity Management to get started as well as test the experience using our Interactive API under the SCIM dropdown.
Take your Compliance.ai workflows to the next level by incorporating approvals
Many of you have told us that certain key decisions within your regulatory change process require approval. Until now, you needed to add special approval steps into your Compliance.ai workflows to reflect these decision points.
If your regulatory change process requires approvals, try our new approval functionality. Simply access your existing workflow, select the “Require approval” checkbox and add the preferred approver for any task requiring a secondary approval. Next, simply delete your existing “approval” task from the workflow.
Once your workflow is updated as desired, using the approval feature is easy. If you are the assignee, simply complete the task as required and once you’re satisfied, click “Submit for Approval” and the task will automatically be assigned to the approver.
If you are the approver, simply review the task and click “Approve” or “Reject”. If the task is approved, it is automatically marked completed. If you reject the task, it is automatically reassigned to the original assignee so that they can rectify any problems you may have noticed.
One Source for Regulatory Intelligence: Expanding Regulatory Coverage
We continued our expansion of US and International regulatory sources. You can now follow recent regulatory updates for:
Insurance related updates from Alabama
Banking related updates from Arizona, Alabama, California, Arkansas, Connecticut, Iowa, Massachusetts, Maine, Mississippi, Nevada, Ohio, Pennsylvania, South Carolina, and Wyoming.
Employment related updates from Nevada, and Pennsylvania.
Taxation related updates from Connecticut and Nebraska.
Bahrain: Bahrain National Assembly (BHR-NA) and Central Bank of Bahrain (BHR-CBB)
Cayman Islands: Department of International Tax Cooperation (CYM-DITC) and Cayman Islands Legislative Assembly (CYM-LA)
Update your Default Filters at any time to take advantage of our new international sources.
Tip of the Month.
Looking to streamline your regulatory change process? Compliance.ai’s diffing feature might be the hidden gem you’re looking for.
Diffing allows you to compare any two related regulatory documents within the platform by selecting the documents and choosing the diffing icon in the toolbar. The diffing view shows a text comparison of the two documents, highlighting the additions and deletions. For example, if you are familiar with a model law, diffing allows you to quickly review a state law to see whether there are any critical differences that require special attention.
In addition, if you are following a specific regulation with a docket, the platform automatically displays a Changes right panel that allows you to compare any two versions of the regulation. If you’re already familiar with a previous version of a regulatory document, Changes allows you to hone in on changes in the newer version more efficiently.
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.
Asif Alam is the Chief Executive Officer at Compliance.ai. A leader in shaping disruptive technology, his experience includes building products using AI and natural language processing for GRC, payments, lending, risk, trading, and new solutions, from Fortune 500 companies to startups.
In his most recent role, he served as the Chief Strategy Officer of ThoughtTrace, unlocking new revenue streams and markets, and reignite portfolio growth. ThoughTrace was then acquired by Thomson Reuters in 2021.
He brings more than 20 years of management and business experience; increasing profitability, unlocking new revenue streams and markets, and reignite portfolio growth for companies like Thomson Reuters, Crux Informatics, and Finastra. Asif is a forward-thinking expert driving engagement via client forums, public presentations, and white papers.
Cesar Lee is a Principal at WRV, a venture capital fund focused on early-stage investments in hardware, semiconductor, and other technology-related companies. Previously, he was an investment professional at Riverwood Capital, a technology-focused, late-stage venture capital, and private equity fund. He began his career at RBC Capital Markets, where he was part of the Mergers & Acquisitions group for two years and the Equity-linked & Derivatives group for one year. While at RBC, Cesar spent a majority of his time working on M&A advisory transactions for technology companies.
Cesar’s investment experience includes buyouts, later stage, early stage and seed rounds. Cesar has completed transaction in the U.S., Latin America, and Asia, and in technology sectors including data centers, software, semiconductors, consumer electronics, robotics, big data, and internet.
Maria Devassy is a RegTech, Content, and Technology leader with over 20 years of experience helping companies bridge the gap between technology, product, and business. Maria has held leadership positions with MetricStream, KPMG, Oracle Corporation, and other technology companies. She has launched several successful RegTech products, business partnerships, and advised Fortune 100 clients on risk management, audit, advisory, and compliance business across Industries.
Hugh Cadden is a recognized expert in derivative financial and trading markets including futures, options, and swaps. Hugh is currently a senior consultant and expert with OnPoint Analytics, Inc. an economic, finance and statistical consultancy specializing in expert testimony for complex litigation. He has been specializing in the organization, operation, and regulation of financial and trading markets for over 40 years. Hugh’s experience includes both the public and private sectors and he has held senior level positions with the U.S. Commodity Futures Trading Commission including serving as Director of the Division of Trading and Markets and Deputy Director of Enforcement. He has been qualified as an expert on financial and trading market matters before the Commodity Futures Trading Commission, the Securities and Exchange Commission, the U.S. Tax Court, Financial Industry Regulatory Authority, National Futures Association, American Arbitration Association and federal courts.
Drake Ross is a former bank regulator who specialized in compliance with consumer protection regulations while at the OCC, FDIC, and OTS. While at these agencies, he provided extensive training and guidance and developed materials to ensure full comprehension and proper application of rules, laws, policies, and guidance, and served as a Subject Matter Expert in numerous areas. Because of his expertise, he often presented at agency and industry events. He also played a significant role in successful windup of the 2008 IndyMac Bank failure, where because of his extensive knowledge of the FDIC deposit insurance regulations, he was called upon to administer highly-complex insurance determinations.
Carliss Chatman is an Assistant Professor of Law teaching Contracts, Agency and Unincorporated Entities, Corporations, and Transactional Skills. Her work is influenced by over two decades of service on non-profit boards and involvement with community organizations. Through leadership positions, she has developed expertise in corporate governance and non-profit regulation. She has also been instrumental in strategic planning and fundraising efforts. Prior to law teaching, Professor Chatman was a commercial litigation attorney in Houston, Texas. In practice, she focused on trial law, appeals and arbitration in pharmaceutical, health care, mass torts, product liability, as well as oil, gas, and mineral law. In addition to negotiating settlements and obtaining successful verdicts, Professor Chatman has also analyzed and drafted position statements regarding the constitutionality of statutes and the impact of statutory revisions for presentation to the Texas Legislature.
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Mariam is an Operating Principal at Cota Capital. Mariam has experience providing guidance on strategic and operational planning to Venture and Growth stage companies. Prior to Cota Capital, Mariam spent her career in management consulting as a Director at KPMG. She has experience leading global transformation programs and developing innovative service offerings for Fortune 500 companies in the Technology sector. Mariam has an MBA from UCLA’s Anderson school of management with an emphasis in Finance and Entrepreneurship. She has a Bachelors in Science in Finance and a Bachelors in Science in Economics from Santa Clara University.
Chris Callison-Burch is an Associate Professor in Computer and Information Science Department at the University of Pennsylvania. His research interests include natural language understanding and crowdsourcing. He has served the Association for Computational Linguistics as the General Chair for the ACL 2017 conference, as an action editor for the Transactions of the ACL, as an editorial board member for the Computational Linguistics journal, and an officer for NAACL (the North American chapter of the ACL) and for SIGDAT (the special interest group for linguistic data and corpus-based approaches to natural language processing)
Tom Ladt is an experienced executive and investor. Tom has lead and served on the boards of several public and private companies serving highly regulated industries such as technology, healthcare, real estate, and food processing. Tom has also served in key governmental roles and on numerous community boards.
Jeroen Plink is a global executive with a proven track record of developing and growing businesses, teams, and technologies with innovation and passion. Jeroen was CEO of Practical Law US during its acquisition by Thomson Reuters. He now serves on numerous boards and acts as a strategic consultants for start-ups.
Global Legal and Compliance executive with 15+ years of success in the SaaS technology and financial services industries. Partner to the CEO and executive team in corporate transactions, business development, product expansion, and regulatory navigation during periods of intense growth and organizational change. An advocate of effective risk management that starts with sound business practices and putting the customer first.
Richard Dupree has held multiple Risk, Compliance and Operations positions at regional, national, and global financial services firms including Wells Fargo, Silicon Valley Bank, Bank of the West and BNP Paribas. Rick currently advises FinTechs and RegTechs and sits on industry panels, contributes to industry whitepapers, thought leadership efforts, and speaks at industry seminars on Risk and Compliance challenges faced by banks and FinTechs.
Brian advises clients on legal and regulatory compliance in the financial, tech, and procurement sectors. His passion is helping businesses succeed in heavily regulated environments. As counsel and trusted advisor to businesses of all sizes, and as a former regulator, policymaker, and federal official, Brian acutely understands the unintended burdens that even well-intentioned government requirements can put on innovation and business growth, as well as how to create policies that strike the right balance.
Brian served as National Ombudsman in the Obama Administration, leading the federal Office of Regulatory Enforcement Fairness in assisting hundreds of startups, entrepreneurs, and small business owners in every industry and every state.
Dr. Marsha Ershaghi Hames is Managing Director of Strategy & Development at LRN, a leader in advising and educating organizations about ethics and regulatory compliance, as well as corporate culture, governance and leadership. With the focus of inspired behavior versus required behavior, LRN is a leading voice in the industry for companies to build ethical cultures instead of “check-the-box” compliance approaches. She’s advised Department of Justice corporate monitors on successful program transformation under CIAs (Corporate Integrity Agreements. With over 20 years of experience in leading multinational ethics and compliance strategies, Marsha has become a highly sought-after thought leader on leading Corporate Compliance and Ethics practices.
Carla Carriveau is currently the Senior Managing Counsel at Wealthfront, an automatic investment service firm in Redwood City, California. Carla was previously Senior Counsel, Division of Trading and Markets, at the United States Securities and Exchange Commission. As a former regulator with over 15 years of experience in helping small businesses navigate legal and regulatory needs in the financial services sector, Carla advises Compliance.ai on financial services regulation, the regulatory landscape and industry practices.
