New and Enhanced Features on Compliance.ai: May 2022
June 10, 2022
Over the past month, we have continued to focus on aligning our platform with your compliance practices and systems, further improving our workflow functionality and integration capabilities.
We also continued enriching our coverage of US state legislation and regulations, plus added regulatory updates for Banking, Insurance, Finance, and Securities. We’ve also enhanced our coverage of regulatory sources from the EU, Germany, China, and Canada.
Improve your efficiency and increase process standardization with new workflow features
Many of you have told us that certain key steps within your regulatory change process require you to codify your decisions in a standardized manner for easier review and reporting.
If you need to capture multiple decisions within one step of your workflow, update your existing workflows to leverage Compliance.ai’s new multiple drop down workflow feature.
Adding new decision drop downs to an existing workflow step is easy. Just access the workflow step you want to update and select “Add dropdown field” to create as many new dropdowns as you wish.
Your new dropdowns are displayed sequentially in the task completion tab and are easy to complete and review.
Added flexibility when publishing into RSA Archer Authoritative Sources with new Compliance.ai Integration capabilities
For clients using our Service Connector integration into RSA Archer, we have added a new feature that gives you added flexibility in publishing Resource Content from Compliance.ai into your Archer system’s Authoritative Sources module with the exact navigational structure you want. Additionally, for each branch or citation selected to be published from the Resource Content, we will also monitor and publish any new versions that are released.
Using our expanded Service Connector, you can now extend beyond the limitation of publishing specific layers of a regulatory library document from the resource tree (from within the Compliance.ai Resource section). With the new feature, you can select the starting or ending navigation point from any level of our Resource Content and publish it in the exact navigational structure you want to see within your Archer system’s Authoritative Sources module. The following examples illustrate the flexibility you can expect with this new method.
Example 1: You can now select Chapter X found under CFR Title 12 to be published as the top level navigation, and everything under that branch will also be published with the proper navigational structure.
Example 2: Another option is to select one specific citation (12 CFR § 1026.3) to be published as the end level navigation, and the navigational structure above that citation will also be published.
The new method allows you to either publish the resource content once, matching the existing content within Compliance.ai, or to publish once, then monitor and automatically publish new versions as they become available.
Contact support@compliance.ai if you are interested in learning more about new RSA Archer integration options.
Add groups of labels to multiple documents with new workflow capabilities
Adding your own custom labels to documents is a great way to codify key documents within Compliance.ai using terminology that’s relevant to your organization. Once documents are labeled, you and your colleagues can easily search for documents by label using basic and advanced search and even create alerts that rely on your labels to ensure immediate notification of important new documents.
You can already add labels to specific regulatory documents by using the Add Label feature found on Details, Annotations and Obligations tabs of our solution. Now, we’ve added a new way for Team Edition users to label regulatory documents in bulk. The new method automatically processes your uploaded label/document mapping csv files to label multiple documents at once.
Adding Labels to Individual Documents
Adding Labels in Bulk via Workflow
If you are a Team Edition user interested in using the new bulk labeling feature, contact support@compliance.ai for assistance setting up this special workflow.
Find Document Types currently available for each Agency
We know it’s important for you to understand what content is available in the Compliance.ai platform. To make it easier for you to identify our regulatory coverage, we’ve made our regulatory source documentation searchable and exportable. Now, we’ve added document type information to our regulatory agency sources so you know not only which sources are available, but also the specific document types you should expect from each source, all in one easy to use exportable table.
Whenever you have a question about Compliance.ai coverage, just visit Agency Sources within the documentation section of our Developer Platform website.
One Source for Regulatory Intelligence: Expanding Regulatory Coverage
We continued our expansion of International regulatory sources. You can now follow recent regulatory updates for:
Insurance related updates from Utah, Connecticut, Maryland, Louisiana.
Banking related updates from Alabama, Oklahoma, and District of Columbia.
Employment related updates from Pennsylvania.
Finance related updates from Idaho, California, New York, and Indiana.
Securities related updates from Arizona, Texas, and Michigan.
China: State Administration of Foreign Exchange (CHN-SAFE), The People’s Bank of China (CHN-PBC).
European Union: European Parliament (EU-PARL)
Germany: Bundesbank Germany (DEU-BB)
Canada: Investment Industry Regulatory Organization of Canada (CAN-IIROC)
Please visit Agency Sources within the documentation section of our Developer Platform website and bookmark the pages as we update them frequently!
Update your Default Filters at any time to take advantage of our new regulatory sources.
Tip of the Month.
Do you follow enforcement actions issued by regulatory agencies? If this is one of your responsibilities, Compliance.ai’s Enforcement Explorer can help you understand enforcement trends while also saving you time.
Enforcement Explorer not only gives you immediate access to enforcement actions, but also provides information on respondents, details on violations, and penalties, so that you can understand what’s occurring with your peer group at a glance.
If you’re interested in enforcements, make sure to sign up for our daily and weekly enforcement email. You can update your email preferences at pro.compliance.ai under Account > Email Preferences.
If you’re not yet a client, you can sign up for our weekly enforcement email as well as our weekly agency and regulatory deadlines emails on the Compliance.ai corporate website at Regulatory Intelligence Reports.
Learn more about Enforcement Explorer on the Compliance.ai Training Center. 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.
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Asif Alam
CEO & Board Member
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.
