Regulatory technology company Compliance.ai announced the launch of its Workflow Automation solution designed to help chief compliance officers manage the growing volume of financial regulatory changes.
The solution, part of the Team Edition financial regulatory change management platform, provides a centralized way for financial compliance teams to collaborate on tasks, actions, and prioritization of deadlines, with dependencies across business departments. Workflow Automation creates automatic to-do lists that guide team members through the change management process based on regulatory changes relevant to them, across various jurisdictions, while also assessing risks.
The Team Edition solution allows compliance teams to:
- auto-filter topic-specific regulatory changes;
- auto-assign tasks relevant to each stakeholder to review, coordinate, analyze, and assess the risk associated with these changes; and
- auto-assign deadlines based on key dates (such as publication, comment close, and effective dates).
The new workflow capability integrates with existing GRC systems, including risk assessment tools, to lower the time it takes to assign and manage tasks.