Compliance is the act of keeping a promise; a promise you made when you were granted permission to undertake regulated activities by an oversight body like the FCA, PRA, HMRC, ICO etc.
Since “regulatory promises” touch every aspect of a business, the definition of Compliance changes depending on whom you are speaking within your business:
- Front office teams care about customer-centric regulation.
- Middle office teams care about governance and operational resilience-related requirements; and
- Back office teams care about the financial resilience of the business (mainly for regulated balance sheets e.g. banks & insurers).
How do you categorise and coordinate your compliance activities across your business?
See how CoVi’s App Suite and Compliance as a Service (CaaS) could help your business effortlessly manage, monitor & evidence your regulatory promises seamlessly across your business.