Legislative Compliance Management

Transcription

1 Legislative Compliance Management

2 Meeting OSFI Guideline E13 Canadian Financial Institutions Legislative Compliance Requirements Bank Act Insurance Companies Act Trust and Loan Companies Act OSFI Guidance FCAC Act AML Laws Privacy Law Applicable Provincial Law Common Challenges of Firms Seeking our Legislative Compliance Management Solution: 1000 s of regulations for compliance teams to manage. Lack of detailed real-time reporting. Lack of collaboration across business units. Insufficient resources. Gaps in conducting review and obtaining signs offs. It is a challenge for Canadian Financial Institutions to keep up with the ever-changing complex and fluid regulatory environment. Leading institutions today understand that an effective compliance function is key to protecting the company from regulatory censure and protecting the organization s reputation. In Canada, the financial landscape is undergoing continuous change. For Canadian Financial Institutions, it is a legal requirement to comply and follow the regulations outlined in the banking framework. It is important to demonstrate transparency through the understanding of compliance with the federal legislation including the regulations, guidance, advisories, rulings and applicable voluntary codes.

3 Resolver, partnered with the Canadian Compliance Group to develop and support a fully integrated Legislative Compliance and Management solution. Allowing Canadian FI s to meet all OSFI requirements involving Enterprise Risk Management, Third Party Vendor Assessments and Internal Audit. Content What Resolver can do for your Financial Institution Content organized by typical lines of business. 30 Day notice of emerging issues. Plain language translation. Management Resources Flexible Reporting Identify and comply with financial regulations relevant to your business. Single Solution to support ancillary compliance requirements. Real time notification of regulatory changes and emerging issues. Direct access to regulatory legal experts. Access to best practices in Governance, Risk and Compliance. User configured workflow based on roles of user hierarchy. Expand to other areas i.e.. Internal Audit, ERM, Internal Controls. No development required to make changes. Generate reports to support proof of your organizations compliance. Real time access to data. All reports are drill-down and end user configurable.

4 With over 400 clients in 40 countries, Resolver is the global leader in Governance, Risk and Compliance (GRC) Software. Resolver s exclusive focus is GRC and our main goal is an exceptional client experience. GRC Cloud helps you create a coordinated strategy to achieve superior business performance. Resolver s GRC technology platform offers a compliance and risk management tool that supports the regulatory compliance program of Canadian Financial Institutions to meet OSFI expectations.

5 Resolver and the Canadian Compliance Group Resolver Inc. has partnered with the Canadian Compliance Group, founded by John Jason, a leading regulatory expert in North America & former Chief Compliance Officer for a major North American Financial Institution. Resolver and the Canadian Compliance Group have worked together to offer a Legislative Compliance and Risk Management solution that supports the regulatory compliance program of Canadian Financial Institution. John is one of the most respected advisers in his field in the financial services industry and we were fortunate to have benefited from his knowledge and leadership. Tom Flynn, Executive Vice-President and CFO, Bank of Montreal Key Questions to Consider 1. Does your institution provide strong ownership and accountability for compliance throughout the organization? Resolver will Provide An easy to use platform that will help drive regulatory compliance throughout your Financial Institution. 2. Are there any potential areas of overlap or danger that risks might fall through the cracks? A user configured workflow and reporting engine that ensures a robust compliance program to support your financial institution. 3. Do you have a risk-based compliance plan in place to guide activity within the institution? A complete listing of the regulatory requirements applicable to Financial Institutions under various legislations, organized in a way that reflects your business.

6 Since 2002, Resolver has provided organizations with Governance, Risk & Compliance software solutions that create efficiencies and make GRC programs more effective. We make it simple for companies to mobilize their people to address business, audit, risk and compliance issues proactively and to demonstrate and document these efforts for internal & external stake holders What our Customers have to say Resolver s software solution, coupled with CCG s 20 years of experience advising clients on regulatory requirements and hands-on experience at one of Canada s largest financial institutions, makes this a very attractive legal compliance management tool, -Celia Cuthbertson, VP, General Counsel and Chief Compliance Officer at HomeEquity Bank. Resolver provided us the content related to Canadian regulations along with 1) the flexibility to add our own content (e.g., risk and management and vendor risk assessment) and 2) a fully customizable report builder. They provided excellent support in order to implement and we feel confident in our ability to move forward and manage these processes going forward. Pam Huggler, Compliance Manager at Street Capital Financial Corporation.