FINRA Compliance

Challenge

Sometimes, an individual's skill with general-purpose office software can inhibit their ability to work efficiently; what is good enough for smaller operations doesn’t always scale. We reviewed an elaborate Microsoft Access file that was used to track compliance operations for a mid-sized mutual fund company. 

Solution

The web-based solution maintained all the existing relationships and data. It allowed for more users to input and approve fields. Other functionality included scheduled alerts based on reporting requirements and automatic prioritization to ensure the most frequent and biggest threats were reviewed most frequently and thoroughly. Duplicating investigations and the supporting tasks was now much simpler as well. 

Results

The interface was user-centric and had immediate impact on workflow and productivity. The client was excited to focus on the work of compliance and spend less time getting the files to cooperate. Controlling the inputs also allowed for better quality data. Regular backups and extra security measures were important for the growing business continuity requirements.