- Rules & obligations from multiple agencies are managed by different processes and tools.
- 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.
- Assurance is expensive due to the efforts required to track a vast number of obligations using different solutions.
- 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.
- Despite having spent billions of dollars, industry struggles to efficiently manage their ongoing compliance effectively.
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.