New and Enhanced Features on Compliance.ai: November
January 17, 2024
The recent updates we’ve made available within our Team and Pro Edition solutions include a range of usability enhancements that include improvements to users’ initial login experience, making it easier to find regulatory change documents you wish to review, and taking action on those documents (workflow). Specifically, new members whose organizations use 3rd party identity management (support of the SCIM standard) will receive welcome emails so they know they can begin using the platform, you’ll be able to search using popular Act nicknames, and workflow users who have complex dropdowns within task steps will benefit from new, nested dropdown options.
We also continued enriching and expanding our regulatory coverage, including: regulatory updates for administration, banking, commerce, data protection, employment, finance, insurance, labor, legislations, litigation, public services, real estate, regulations, securities, taxation, trading and utilities. Our expanding global coverage includes Thailand, Hungary, European Union, Peru, Panama, Canada, Luxembourg, Italy, Poland, India, Switzerland, the United Kingdom, Portugal, Dominican Republic (New Addition), Spain, Costa Rica (New Addition), and the United States.
Simplify workflow annotations using nested drop downs
Team Edition workflow now supports nested drop downs for improved workflow flexibility and ease of use. If you currently maintain long lists or related items in your workflow drop downs or multiple drop downs that can be connected, try our new drop down capability. If you are an admin, simply edit your workflow, then drag and drop to move drop down options to establish the intended drop-down hierarchical dependencies. As with existing drop down annotations, you can choose “multi-select” if you want assignees to be able to choose multiple drop down values.
Manage Workflows – Drag & Drop to Create Nested Drop Downs
Assignees can complete nested dropdowns using a familiar click selection. When you review your workflow information, you’ll notice that the drop down selections are displayed with their full name for clarity, for example, if you establish a “Line of Business” drop down that includes the options “Correspondent”, “Origination”, and “Servicing” beneath “Mortgage Lending” and the assignee selects “Servicing”, you will see the selection listed as “Mortgage Lending: Servicing”.
Workflows – Completing Workflow Tasks
Simplify cross document review by exporting annotations in a single spreadsheet
To make it easier for you to review your annotations in spreadsheet format, both Team and Pro Edition solutions now include an option to download annotations across multiple documents within a single file. Simply select documents in any search view, click on the export button, select the fields you want to include in your export, including sentences, then choose Annotations and “Export in a single file” to leverage this new capability. If you choose this option, you will receive a single spreadsheet that includes only the annotated sentences for all documents you’ve selected.
Note that you can still receive all sentence data for selected documents within multiple document specific files. If you select either the “Sentences” or “Annotations” options without the “Export in a single file” checkbox, you will receive multiple document-specific spreadsheets in a zip file.
Export Annotations in a Single File
Improve user activation when using your corporate Identity management systems
Members of organizations leveraging our SCIM integration will now receive an email specifically focused on their expected login experience. If your administrator invites you to the Compliance.ai platform, simply click “Get Started” in the welcome email.
After clicking Get Started, you’ll be redirected to our standard login screen. Simply click “Corporate Login” to begin using the Compliance.ai platform.
Find what you’re looking for quickly: Leverage Nicknames when searching for Acts
Do you want to use the Acts filter more efficiently? If so, please check out the new Pro/Team capability to search for Acts based on commonly used nicknames in addition to the full formal name of the Act. For example, you can search for documents related to the “Gramm-Leach-Bliley Act” by simply entering the commonly used “GLB” nickname.
Speed up regulatory research using one source for Intelligence: Expanding Coverage
We continued expansion of our regulatory coverage. You can now follow recent regulatory updates across specific lines of business and jurisdictions:
Administration: related updates from the United States (California).
Banking: related updates from Hungary, Canada, Portugal, Peru and United States (Virginia)
Commerce: related updates from the United Kingdom.
Data Protection: related updates from the European Union, Luxembourg, and Italy.
Employment: related updates from Peru.
Finance: related updates from Poland, Switzerland, Portugal, Costa Rica and the United States.
Insurance: related updates from Panama, Canada and Portugal.
Labor: related updates from Peru.
Legislations: related updates from Thailand, Italy and Panama.
Litigation: related updates from the United States (Illinois).
Public Services: related updates from the United States (New York).
Real Estate: related updates from Canada.
Regulations: related updates from the United States (New York).
Securities: related updates from India, Panama, Peru, Spain, Portugal and Canada (Ontario).
Taxation: related updates from Peru, Dominican Republic and Canada.
Trading: related updates from the United States.
Utilities: related updates from the United States.
Canada: updates from the Organisme d’autoréglementation du courtage immobilier du Québec [CAN-OACIQ], Ombudsman for Banking Services and Investments [CAN-OBSI], Canadian Council of Insurance Regulators [CAN-CCIR], Ontario Securities Commission [CAN-OSC] and Auditing and Assurance Standards Board [CAN-AASB].
Costa Rica (New Addition): updates from the Superintendencia General de Entidades Financieras [CRI-SUGEF].
Dominican Republic (New Addition): updates from the Dirección General de Impuestos Internos [DOM-DGII].
European Union: related updates from European Data Protection Board [EU-EDPB].
Hungary: updates from the Hungarian National Bank [HUN-MNB].
India: updates from the Securities and Exchange Board of India [IND-SEBI].
Italy: updates from the Garante per la protezione dei dati personali [ITA-GPDP], Presidency of the Council of Ministers [ITA-PCM] and Parliament of Italy [ITA-PARL].
Luxembourg: updates from the Commission Nationale pour la Protection des Données [LUX-CNPD].
Panamá: updates from La Superintendencia de Seguros y Reaseguros de Panamá [PAN-SSRP], Superintendencia del Mercado de Valores de Panamá [PAN-SMV] and National Assembly of Panama [PAN-NA].
Peru: updates from Ministerio d Trabajo y Promoción del Empleo [PER-MTPE], Superintendencia del Mercado de Valores [PER-SMV], Seguros y Administradoras Privadas de Fondos de Pensiones [PER-SBS], Congreso de la República [PER-CDR] and Superintendencia Nacional de Aduanas y de Administración Tributaria [PER-SUNAT].
Poland: updates from the Komisja Nadzoru Finansowego [POL-KNF].
Portugal: updates from the Autoridade de Supervisão de Seguros e Fundos de Pensões [PRT-ASF], Comissão do Mercado de Valores Mobiliários [PRT-CMVM] and Ministério das Finanças [PRT-MOF].
Spain: updates from the Spain National Securities Market Commission [ESP-CNMV].
Switzerland: updates from the Financial Market Supervisory Authority of Switzerland [CH-FINMA].
Thailand: updates from the Parliament of Thailand [THA-PARL], Government of Thailand [THA-GOV] and Thailand Ministry of Finance [THA-MOF].
United Kingdom: updates from the Government of the United Kingdom [UK-GOV].
United States: updates from the Federal Reserve System [FRS], Options Clearing Corp [OCC-SRO], Department of Financial and Professional Regulation [IL-DFPR], Legal Services Corporation of Virginia [VA-LSCV], New York Department of Public Service [NY-DPS], Supreme Court of Illinois [IL-SC], California Fair Political Practices Commission [CA-FPPC] and New York City [NY-NYC].
Tip of the Month: Import your existing tags to start leveraging Compliance.ai Labels
If you use a common syntax within your organization to track regulatory themes, controls, or risks, using labels is a great way to extend your naming conventions to Compliance.ai. Using common labels across your systems is also another way to build a bridge between information in your GRC, other platforms, and Compliance.ai.
If you haven’t yet started using labels in Compliance.ai, importing existing “tags” you use in other systems is a great way to get started. Org admins can import labels in bulk by accessing the Management Hub, then selecting Labels for the folder you wish to update. Once you’ve selected Labels, click the “+” icon and upload a CSV or XLSX file with your existing tags. All you need to provide is a simple one column file with label names. That’s it!
If you’ve already added some labels but need to add more, don’t worry about scrubbing your upload. We will automatically add labels that don’t yet exist on Compliance.ai and ignore any labels that are already in your inventory.
Accessing Manage Labels
Importing Labels in Bulk
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
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.
