Regulatory compliance: top four competencies critical to success

A sharpened focus on the capital markets by regulators has pushed compliance to the forefront of strategic initiatives.

Smart financial firms realize that integrating compliance requirements into existing business processes can enable best practices across risk functions and result in significant ROI from compliance efforts.

Interwoven is ensuring financial firms are staying one step ahead of the regulatory curve. Interwoven’s purpose-built technologies incorporate compliance as part of enterprise risk management to improve business execution – four solution competencies critical to success include:

ONE: Document Tracking and Audit

The ability to track the life of all document and electronic files from creation through editing and review to final destination is the core of compliance. This includes the ability to track authorship, changes, data/time stamping, and ensuring that all documents conform to a rigorous workflow that is based on very stringent security policies such as access control and permissioning. The ability to audit document history is critical to meeting today’s compliance needs.

TWO: Efficient, Automated Peer-to-Peer Messaging

Transaction and communication are the lifeblood of the financial markets. Whether it is the exchange of asset values, financial information, risk exchange, monetary exchange, interactions between counterparties is a constant element. One of the most critical competencies required for effective compliance is the ability to implement real-time, automated and system-level messaging and communications between two participants without third-party intervention. Peer-to-peer networking technology enables reliable on-time communication and collaboration over key compliance-related activities and best practices including: delivering reports and directives, planning resource allocation, sharing risk mitigation methods, coordinating compliance efforts etc. Bilateral communication helps engage all parties in a direct, flexible and actionable manner; greatly enhancing individual productivity, mitigating long term risk, and quickly improving operational processes.

THREE: Content-Visible Libraries

To achieve sustainable compliance, content-visible libraries accomplish the goal of maintaining a repository of electronic documents based on a consistent taxonomy, and for which the content can be extracted and be ‘visible’. Interwoven provides you the ability to identify and add valuable metadata to central libraries of information, and provides compliance officers the ability to build processes to manage and monitor controls centrally.

FOUR: Real-time Reporting

Financial executives need to be consistently aware of the state of enterprise risk and compliance in order to make the right strategic decisions. Interwoven’s reporting tools and dashboards enable the monitoring of the completeness of the compliance effort and provides the ability to report on risk at multiple levels of the organization.

Staying Ahead of the Curve

Interwoven provides powerful and scalable solutions to automate regulatory compliance and reporting requirements.

According to Srikant Sharma, Sr. Director, Financial Services at Interwoven, “Given the increasingly onerous compliance and regulatory environment globally, more and more of our largest financial services customers are turning to us as their trusted advisor and preferred solution provider to manage their rapidly growing challenges in this realm.”

About Interwoven

Interwoven, Inc. provides market-leading solutions for securities operations and regulatory compliance. The Scrittura solution suite enables automation of post-trade operations, workflow and bilateral counterparty messaging for the OTC derivatives markets. Our Compliance, Audit and Reporting solutions enable real-time accuracy in enterprise-wide regulatory and risk management.

Interested in learning more?

Download a FREE Whitepaper www.interwoven.com/fst