How to combine the 3 stakeholders for your compliance
Without strong monitoring, your compliance data and processes are likely to fall out of date. Not only you need to comply to the regulatory yearly checks, you need to take all reasonable steps to ensure that the organisation stays compliant, and this includes monitoring and auditing to detect any criminal conduct. Fragmentary compliance systems lead to complex and rigid business processes. This can cause delays in the client service and so lead to a disappointed client experience.
And what if you can actively involve your relationship manager and your client? And this all on the same platform?
Dynamic audit trail
As compliance officer you are notified when a client gets flagged during a compliance procedure check. Urgently, you need to assemble more information to be able to assess the client relationship. Whilst involving the relationship manager, you need to keep track on all interventions taken in order to mitigate the risk. If your relationship manager and also your client are connected on the same platform, you can easily keep track on all interventions and communications between the relationship manager and the client, each with their own workflows and access to certain information. The question to provide more information can simply be done through the platform by mail and the client has the ability to upload remotely any requested information, all secure and logged in the audit trail.
Harmoney is this compliance platform, enhancing the interactions between the client, the relationship manager and the compliance department. Not only during onboarding but also maintaining the compliancy throughout the whole client life cycle.