New and Enhanced Features on Compliance.ai: November 2022
December 27, 2022
During November, we continued improving two key capabilities of our platform – helping you search more efficiently and manage your workflows more effectively. In addition, we’re offering a sneak peek at the kinds of insights you can experience with our new Bring Your Own Content (BYOC) solution.
We also continued enriching our regulatory coverage, most notably adding new content and regulatory updates for insurance, banking, consumer affairs, finance, and healthcare related matters from US state regulators. We have also continued expanding our international regulatory coverage further within Iceland, Canada, Ireland, Germany, European Union, and Denmark.
Use Auto-Translation to standardize your Regulatory Assessments across jurisdictions:
Earlier this year, we released a new auto-translation capability designed to provide immediate access to a high quality English version of Regulation and News documents published in 27 languages. To help ensure you have access to the translations you need, we’ve now extended auto translations to Guidance and Legislation documents.
Contact our support team if you’re interested in adding auto translation to your Compliance.ai experience.
Consistent decision making: Ensure workflow integrity across your organization
Many of our clients use our “Team structure” to ensure that only authorized individuals from the right part of the organization can participate in specific workflows. To help ensure no one in your organization can accidentally change or delete a workflow, we’ve limited the Edit and Delete workflow features on the Manage Workflow screen so that Workflow Admins can only Edit or Delete workflows associated with teams of which they are a member.
Org and Team admins can still Edit or Delete any workflow, so if you want to take advantage of this additional control, you might want to update the roles of your admin users.
Example: Workflow Admin view. Workflow Admin is only a member of the “Mortgage Team” only. Edit and Delete are unavailable for other team-related workflows.
Example: Org and Team Admin view. These roles have access to edit or delete any workflow.
Improve cross-team collaboration with new alert sharing capabilities
Crafting the right alerts is a critical aspect of following the most important regulatory content. To ensure you don’t lose alerts when the roles of people in your organization change, you would change the alert owner. Changing alert owners is also a great way to have one person take charge of developing your alerts but then hand them off to other individuals once you’re satisfied with the results.
To change an alert owner, Access Notifications and select Settings, then Share for any alert you wish to modify.
Then, choose Advanced Settings and select a new Alert Owner.
Reduce the time spent looking for Regulatory Intelligence: One Source for Regulatory Intelligence: Expanding Regulatory Coverage
We continued our expansion of US and International regulatory coverage. You can now follow recent regulatory updates across specific lines of business and jurisdictions:
Topic-based expansion:
Insurance: Related updates from Kentucky, Puerto Rico, and New York.
Banking: Related updates from New Hampshire, Massachusetts, and South Dakota.
Consumer Affairs: related updates from Illinois, and New York.
Finance: related updates from Nevada, Montana, North Dakota, Minnesota, Utah, Florida, and Wyoming.
Healthcare: related updates from Delaware, and the Center for Medicare and Medicaid Services (CMS).
Jurisdictional expansion:
Iceland: updates from Central Bank of Iceland (ISL-CBI).
Canada: updates from the Investment Industry Regulatory Organization of Canada (CAN-IIROC), Financial Consumer Agency of Canada (CAN-FCAC), and Digital Government and Service NL (CAN-NLDGS).
Ireland: updates from The Oireachtas (IRL-OIR).
Germany: updates from the Bundesbank (DEU-BB).
Denmark: updates from the Financial Supervisory Authority (DNK-FSA)
Tip of the Month: Convert to Advanced Search to Optimize your Alerts
Did you know that you can convert your “basic search” alerts to advanced search to optimize your alerts? If you notice patterns in documents surfaced in documents found via your alerts, converting your alert to advanced search and adding terms or date ranges to exclude is a great way to minimize documents you consider tangential that you may be receiving via your current alerts.
To modify an existing basic search alert and take advantage of advanced search capabilities, choose the Edit option for the alert in question, then click the “Convert to Advanced Search”.
Advanced Search gives you the option to include additional search parameters such as excluding text indicative of documents that you don’t consider relevant by using “is not”. Adding fields such as Publication Date within the last x days is also a great way to avoid being notified of older documents made available by Compliance.ai when we add new sources to our platform.
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.
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.
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.
