TimeArc® GRC Solutions
Financial institutions are subject to constantly changing regulations across multiple jurisdictions including Basel III, The Dodd Frank Act, The Volcker Rule, FATCA and EMIR. It has become increasingly challenging for executives to monitor constantly changing and increasingly complex regulations. As a result, organizations are exposed to increased risk of non-compliance and increased compliance costs.
TimeArc's unique point-in-time technology provides a systematic approach to managing regulatory change. TimeArc provides alerts, automated processes and reporting, reducing the costs involved in managing regulatory change and demonstrating compliance. Senior executives are provided with greater visibility of internal compliance programs and changes in the regulatory environment, so as to reduce the risk of non-compliance and to protect the organization. Unique point-in-time technology enables users to instantly navigate to regulations and linked compliance programs as in effect at any point in time to demonstrate compliance.
TimeArc supports organizations in meeting the extensive compliance program documentation requirements of regulations such as The Bank Secrecy Act, The Volcker Rule, Sarbanes-Oxley and the regulation of swaps under The Dodd Frank Act. TimeArc empowers senior executives to monitor compliance and meet increasing demand to demonstrate compliance to regulators and the board. TimeArc provides a more efficient governance process, reducing compliance costs and the risk of non-compliance.
TimeArc ensures that executives are kept informed of developments in the regulatory environment with regulatory alerts. TimeArc maintains a complete timeline of regulations enabling executives to visually identify the sequence of changes, amendments and replacements of regulations over time. In addition, professional commentary can be provided from expert consultants to support executives in efficiently interpreting regulatory updates. Using TimeArc's unique interactive point-in-time technology, compliance executives can instantly navigate the regulatory environment as effective at a point in time.
TimeArc’s unique interactive point-in-time technology enables compliance executives to monitor and manage internal compliance programs. Links created between programs ensure that policies are consistently communicated through procedures, controls and training material. Executives can view relationships between interrelated components of compliance programs to make better informed decisions as a result of changes in regulations, risks and business operations. A complete audit trail is maintained to demonstrate how compliance programs are reviewed and updated over time. During regulatory or audit review, compliance executives can instantly navigate compliance programs in effect at a selected point in time to efficiently demonstrate compliance. TimeArc reduces the time, costs and resources consumed in managing regulatory change and demonstrating compliance.
TimeArc Integrated GRC links the Compliance Program Management solution to the Regulatory Intelligence platform to implement a systematic approach to managing regulatory change. By linking internal compliance programs to external regulations, TimeArc flags internal policies for review as a result of changes in regulations. This reporting tool empowers compliance executives to manage regulatory change on a continuous basis in an efficient manner, reducing costs and the risk of non-compliance. TimeArc provides senior executives with a collective overview of the regulatory environment, and the manner in which the organization implements regulations over time. Compliance executives will be capable of “promptly presenting” compliance programs as required by onerous regulations for any point in time.