A good compliance culture doesn't just happen, it has to be built and managed!

Challenge

Regulators are demanding that firms implement a “Compliance Culture/Ethics” over and above simply following the rules.

Implementing and managing a “Compliance Culture/Ethics” is complicated by the ambiguity of “culture” and “ethics”. But your firm must be able to show it has assessed its current culture/ethics and implemented a plan to make compliance more than just “box checking”.

Maestro-Solution

GRC-Maestro supports your Compliance Culture/Ethics management and reporting with:

  • Maestro-Templates: based on your specific Compliance Culture/Ethics requirements for your firm, and optionally for different business lines and jurisdictions.
  • Schedules: periodically sending Maestro-Forms to assess and update the ongoing Compliance Culture/Ethics.
  • Incidents: evaluate responses with automatic and manual incident creation, reporting and resolution.

GRC-Maestro evidences to your Senior Management and Regulators that your business operates a Compliance Culture/Ethics.

Firms wanting to ensure they have implemented their ethical code into their business operations can review their key risk areas:

  • Products: review all products to ensure they comply with the firm’s ethical code, e.g. offer purpose and good value to customers.
  • Advice: ensure all investment advice given to customers recommends the “best” products, not just “suitable” products.
  • Human Resources: ensuring that recruitment, promotions and remuneration (base and bonus) take account of ethical conduct.
  • Anomalies: build an ethical assessment into all customer complaints, compensation payments and regulatory issues.

GRC-Maestro

Prove Compliance – Evidence your Governance, Risk & Compliance (GRC)

Automate GRC – Run manual checks and processes automatically

Low Cost – Quick and easy to use + low pricing