Regulators are leveraging technology and data-mining capabilities to enforce compliance more effectively. Companies owe it to their clients to do the same.
“ In 2019, OCIE will continue to stay abreast of changes in the SEC’s registrant base, the markets, and investor needs and preferences, and will adjust its risk-based program in response to these changes. To this end, OCIE is increasingly leveraging technology and data analytics as well as human capital to fulfill its mission.” 2019 OCIE Examination Priorities Office of Compliance Inspections and Examinations.
At Alaric Compliance, we complement our tailored and trusted compliance consulting and CCO outsourcing services with time-tested software that improves compliance process management and visibility.
Our cost-effective web-based tools help firms of all sizes enhance their compliance programs, including Code of Ethics compliance monitoring, reporting and review. We also offer compliance testing software to assist you with your annual testing requirement.
How We Can Help
Alaric has partnered with leading software firms to provide comprehensive compliance solutions that are designed to simplify the administration, testing and management of your compliance program, and to provide the certifications and documentation expected by the regulators. The software automates archiving of testing, procedures, evidence, findings, exceptions and resolutions to produce audit-ready output on demand.
Our technology solutions include on-boarding support provided by Alaric’s team of professionals. Training, and software setup, the customization of the workflows, documentation and processes designed to meet the requirements of your compliance program. These solutions can be combined with Alaric’s Turnkey Solutions, or purchased on a stand-alone basis.
Personal Trading and Code of Ethics (Code of Ethics Compliance Monitoring) – Employee Code of Ethics Compliance Monitoring software that automates pre-trade clearance; personal trade review; policy certifications, attestations and acknowledgement; gift and entertainment reporting and approvals; as well as outside business activity reporting, tracking and review.
Testing & Monitoring Program – Alaric utilizes a web-based software powered by BasisCode to support the day-to-day administration, monitoring, testing and documentation of the compliance program so that your firm is audit ready at all times. Our highly experienced compliance professionals provide the implementation and independent verification needed to manage the testing of your firm’s compliance program efficiently and effectively.
Modules included in the testing and monitoring software:
- Risk Assessment
- Gifts and Entertainment (GEM)
- Form Studio
- Employee Portal
- Governance and Audit Manager
Tailored certifications and staff compliance quizzes with individualized questions, hyperlinks to attachments, dependent questions and control response types. Quizzes tally employee responses and return scores to supervisors, so you can make sure your staff stays compliance savvy.
Seamlessly accessed from a customized Dashboard, the compliance Risk Assessment module displays an inventory of your firm’s compliance risk, provides the ability to rank and weight risk factors, archive past assessments and link to the controls (testing, certifications, etc.) that are mitigating identified risks, thus demonstrating an audit-ready business to regulators, senior management, and your Board.
Gifts and Entertainment (GEM)
You can set firm-wide limits and track employee Gift & Entertainment (GEM) disclosures against defined thresholds. Employees can easily check limits and pre-clear activities. Notifications and warnings can be automatically sent to compliance staff and supervisors as exceptions occur.
Tools designed to provide your employees with the capability to submit forms online, replacing the need for hard or paper copies. This feature offers greater flexibility in the management of the documentation of unscheduled or one-off compliance events. Plus, the reporting and recording of notifications, disclosures, and approvals.
Further evidence that you are engaging employees in maintaining a culture of compliance, our Whistleblower module enables staff to submit anonymous tips of questionable compliance activities. Tips are instantly sent to authorize compliance administrators, and securely archived.
Employees can submit and track personal trading requests; manage personal accounts; enter gift and entertainment disclosures; complete ad-hoc forms and route them for processing; and report an incidents anonymously. They can also and access documents published by the compliance team through the online library.
Governance and Audit Manager
Facilitates the design and implementation of ad-hoc tests or audits, and the collection of the documentation including Certifications and Forms as evidence of these tests.