Manage Ongoing Validation

Rules from multiple agencies are managed by different processes and tools and is difficult to keep track of the changing rules.

Problem 

 

  1. Rules & obligations from multiple agencies are managed by different processes and tools.
  2. It is difficult to keep track of changing rules and the firm's ongoing validation efforts across all these obligations. Despite having sophisticated GRC solutions, compliance status reports are point-in-time efforts.
  3. Assurance is expensive due to the efforts required to track a vast number of obligations using different solutions.
  4. Validation & audit professionals need information from the first line teams to deliver their responsibilities. Across the industry, 70%-80% of time is spent on collecting information leaving very little time for meaningful analysis. Surprisingly, this happens every single year.
  5. Despite having spent billions of dollars, industry struggles to efficiently manage their ongoing compliance effectively.

 

Solution

 

 

 

Supervisory exams always follow a specific guideline published in their examination manual & they are organized by the Section Number(s). BCube curates the rules & updates them as they evolve. The tools are designed to help you create work products directly related to the Section Number(s), thus establishing end-to-end traceability with the rule. With firm-wide view reports, organizing your compliance data for supervisory is just a few clicks away.

 

Steps to Adopt BCube to Solve This Problem

 

Contact us to find out how BCube Analytics simplifies one of the more pervasive issues in managing ongoing validation.