Compliance Manager
Compliance Manager is an administration task control tool that can help ensure your regulatory compliance obligations are met. It is a standalone application that is ideally integrated in the Enterprise Risk Manager solution.
Compliance Manager allows you to record and review all items crucial to regulatory compliance and features an automated system of checks and balances to ensure accurate and timely response to risk. This tool has three inter-related functions: a Document Library, Risk Register and Task List.
The Document Library allows you to publish, store, update and/or add any electronic document in Word, Excel or PDF format. The library is ideal to store policies and procedures such as OH&S information, risk reduction checklists, self-audit forms and any other compliance documentation.
The Risk Register is used to record cyclical events such as insurance renewals and cash flow projections, and non-cyclical items such as complaints and staff training. It allows you to maintain a complete database of all compliance-related issues.
The Risk Register generates a Task List that allows you to build an automatic action-required risk register for all critical issues based on frequency of review, ensuring ongoing compliance and deadline requirements are maintained at all times. Each item is automatically added to the Task List via a diary control system with non-action alert process reminders. All task notifications and reminders are automatically sent to users via email as required.
The Financial Services Reform Act (FSRA) edition of Compliance Manager is a ready-to-use system that has all the FSRA requirements built in. This allows licencees to record and review all items critical to their licensing requirements and reduce the risk of non-compliance.
Compliance Manager has been licensed by the two largest cluster groups of insurance intermediaries in Australia and the National Insurance Brokers Association, which offers the solution to independent brokers around the country
