Regulatory Exam Management
What Are the Benefits of Regulatory Exam Management Software?
Financial institutions are subject to examinations, investigations and audits conducted by any number of entities; federal, state and international. Each examination requires organizations to pull from a common body of governance information, but often requires labor-intensive data mapping and aggregation activities that can take hours away from critical resources.
Mandates established in the financial crisis have only just begun to take effect, and examiners are raising the bar in terms of their expectations for organizations of all sizes. To be ‘examination ready’ when managing compliance information across various silos, spreadsheets and dispersed documents, a financial institution must have a robust risk taxonomy that connects controls and testing to applicable regulatory bodies.
Planning, preparing, and reporting on the status of compliance management is equally critical to successfully navigating examinations, and non-integrated systems are at risk of using multiple terminology, naming conventions, and data structures.
Implement Regulatory Exam Management with LogicManager
LogicManager’s risk-based compliance management software provides regulatory templates, libraries and assessments to ease the burden of regulatory examinations.
Centrally managing all requirements, documents, frameworks, and controls ensures your information can be pulled quickly and in a format that withstands regulatory scrutiny.
By integrating with our compliance subscription services, organization can reduce time spent tracking regulatory changes, and free up critical resources for more value-add activities.
Get this solution.
If you’re already a LogicManager customer, you can contact your business analysts to activate this plugin! If you’re new to LogicManager, you can request a personalized demo to see our regulatory exam management solution in action.
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