Monitor compliance obligations
Create an online library of applicable regulations and establish checks, step-by-step processes, policies, and procedures, and automate monitoring to ensure compliance.
Receive live regulatory updates
Integrate the platform with your preferred regulatory content provider to receive live notifications of regulatory updates in a clear structured format that feed directly into your compliance processes.
Manage regulatory change
Implement a best-practice regulatory change management program to fully document the regulatory change process and demonstrate compliance with regulatory requirements.
How does regulatory compliance software work?
Understand your regulatory obligations.
Build a library of applicable regulations, standards, policies, and procedures and monitor compliance. Conduct regular compliance checks and assessments and use workflows to address areas of non-compliance.
Receive live regulatory updates.
Riskonnect integrates seamlessly with your preferred regulatory content provider to feed real-time regulatory updates directly into your compliance program. Updates are provided in an easily digestible format, reducing reliance on external legal resources, and regulations are mapped to the relevant business processes, controls, policies, and procedures to clearly highlight the necessary compliance updates, streamlining your compliance efforts.
Manage regulatory change.
Implement a best-practice, fully automated regulatory change management process. Document the entire change process from initial notification and escalation to remediation steps, providing clear evidence of compliance adjustments to regulators.
Collect compliance attestations.
Use automated workflows to gather thorough documentation and evidence of employee adherence to regulations and policies.
Automate compliance reporting.
Generate a wide variety of reports to visualize compliance status, identify risks, and support informed decision-making. Create customized dashboards for employees at all levels to monitor their upcoming compliance tasks and share key metrics.
Operate in accordance with widely used compliance frameworks.
Use out-of-the-box best-practice templates, forms, and workflows to align your processes with globally applicable compliance requirements such as ISO standards, NIST, GDPR, PCI, HIPAA, and AICPA SOX.
Automate policy management.
Develop a comprehensive library of your policies and procedures. Use workflows to create policies and automate distribution, approvals, signoffs, updates, and attestations. Map policies to related regulations in your obligations library to enable policy updates based on regulatory changes.
Mitigate bribery and corruption.
Implement a best-practice gifts and hospitality procedure to mitigate bribery and corruption risks. Employees can submit gift declarations through the online system, and role-based rules and workflows facilitate approvals and escalation based on policy thresholds.
Manage conflicts of interest.
Employees can report possible conflicts through online forms. Predefined rules check for potential clashes and escalate and track the resolution process, capturing all actions within the platform.
Facilitate whistleblowing and disclosures.
Establish a secure portal for confidential employee disclosures where they can report potential misconduct or whistleblow. Case management workflows facilitate escalations, approvals, and remediation activities until each case is resolved.
Perform sanctions checks.
Keep an updated list of sanctioned entities and perform comprehensive sanction screenings on prospective suppliers across different countries and jurisdictions. Workflows escalate potential issues to relevant stakeholders, empowering them to make informed decisions.
Manage internal audits.
Plan and schedule audits upfront and create bespoke templates to capture the findings. Automated workflows facilitate the implementation of corrective actions.
How can Riskonnect help?
Riskonnect offers a highly configurable regulatory compliance platform that can be customized to meet your bespoke needs with:
Fast implementation
Highly customizable
State-of-the-art technology
Intuitive user experience
Best-practice compliance workflows
Out-of-the-box compliance frameworks
Multiple languages
Highly secure
API integrations
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Frequently Asked Questions | Regulatory Compliance Software