Finance Compliance Services
Compliance Programs & Tools for Financial Institutions
The financial industry is rife with rules, regulations, and requirements — and there’s a very good reason why. Misconduct or unethical behavior from these organizations could be disastrous for both the companies and their clients.
At ComplianceLine, we know that there’s nothing more important for financial institutions, advisors, and fintech companies than practicing ethics and transparency. We strive to help you achieve that goal with our compliance tools for financial institutions.
With ComplianceLine’s thorough and customizable solutions, your organization can easily conduct sanction screenings, offer financial compliance training to employees, protect your clients from misconduct, and protect your company from fines and litigation.
Financial Sanction Screenings
Financial sanction screenings are of paramount importance when running an ethical and transparent organization. From the moment you interview a new hire to your favorite employee’s 10-year work anniversary, it is vital to regularly check financial sanctions lists and ensure your workers aren’t on them.
Conducting sanction screenings is very important — but it can also be time-consuming and tiring. Rather than losing man hours to this long and tedious task (and risk disaster if a worker accidentally misses a name), use ComplianceLine’s sanction screening program and let the software screen for you! Our screening program offers many benefits, including:
- In-depth Screening on One Platform: Our 7-step screening process thoroughly checks every available sanctions list — and the software offers you easy-to-read results on one user-friendly platform.
- Intuitive User Management Options: ComplianceLine’s screening services are intuitive and easy to learn. Our simplified analytics and audit trails give your organization even greater transparency.
- ActionCheck Guarantee: ComplianceLine offers a $5 million ActionCheck guarantee, which promises that our services will give you certain success and accurate reporting — even in the face of changing industry requirements.
Compliance Hotlines for Financial Institutions
Financial institutions have an obligation to be forthcoming and ethical in their daily operations. But what happens when someone violates that obligation? Do your employees have a way to report misconduct or illegal activities they’ve witnessed? With ComplianceLine’s compliance solutions, they can.
Our hotline services provide your employees with a place to alert the company of fraud, theft, money laundering, and a variety of other misconduct. These hotlines are always anonymous to protect your workers, and our team of compliance analysts are always ready to help you move forward with employee reports. ComplianceLine’s hotline service also offers benefits like:
- Round the Clock Support: Our operators are available to take calls 24 hours a day, seven days a week, every day of the year. This allows your employees the freedom to report incidences when they feel most comfortable, which will make them more likely to report misconduct at all.
- Urgent Escalation and Secure Routing: ComplianceLine hotlines are staffed by humans, not computers. Our professionals understand the urgency and delicacy required when relaying employee reports, and they will direct reports to the right party in a timely manner — without revealing the employee’s identity.
- Premier technology for easy use: Our software easily integrates with the GRC platform of your choice so you can manage all risk-related issues in one simple space.
Financial Compliance Training Programs
Training is key to creating an ethical and compliance-based work environment at your financial institution. When your employees learn the industry standards and regulations, as well as company policies for meeting these standards, your business is less likely to face lawsuits and fines from regulatory bodies.
However, getting your employees to actually learn these standards is harder than it may seem. Too often, employees “check out” during the training process, daydreaming out the office window (or worse, sleeping at their desk). If you want your compliance training to be effective, it needs to be both informative and engaging — and that’s exactly what ComplianceLine offers. When you use ComplianceLine’s training programs, you get:
- Gamified training topics: Use games and rewards to help your compliance lessons sink in. This fun and entertaining teaching style will get all your employees actively participating in their training.
- Bite-sized video content: At ComplianceLine, we know that sometimes there simply isn’t enough time for a long compliance lecture. That’s why we’ve created several five- to eight-minute broadcast quality videos, which teach compliance topics in quick, digestible “bites.”
- Customizable training options: Perhaps most importantly, every ComplianceLine training program is designed to be fully scalable and unique to your organization. You can adjust text, graphics, and even video content to suit the specific needs of your industry and your organization.
Finance Compliance Case Study
An executive team initiated a compliance review after seeing their competitor in the headlines. They found that while they had adopted a well-known provider in the compliance space, the solution was poorly implemented, too expensive, and so disjointed their compliance team was buried in administrative work rather than being able to focus on protecting the company. ComplianceLine was able to transfer their existing reporting channels (toll free numbers, etc.), build automated workflows into their issue management system, and advise the team on important benchmarks and practices. Within a few months, they successfully implemented a strategic improvement plan for compliance across their company and have more confidence their vendor is acting as a partner to bolster and protect the trust of their clients.
Dynamic solutions focused on preserving trust
- Secure, dynamic solutions to support KYC (Know Your Customer), AML (Anti-Money Laundering), FCPA (Foreign Corrupt Practices Act) and other compliance initiatives
- Empower everyone at your institution to identify and help correct potentially corrupt practices or improper sales behavior
- Gain executive- and board-level visibility into field & branch activity
- Drive a culture of integrity and transparency to protect the long-term strength of your reputation with clients, partners, and the public
- Specialized checks against OIG and other key blacklists for advisors and vendors
Invest in your culture with integrated compliance services
Start with a foundation of Issue Intake & Case Management to accept and compile reports of risks and compliance issues across hotline, online, in-office, and even text messaging.
Integrate OIG sanction screening, international sanction lists, and VendorCheck services to make sure your partners don’t bring new risks to your doorstep. Then look for new frontiers of compliance excellence with Awareness Campaigns to build engagement with your employees, and Disclosures forms to pinpoint risk areas. Finally, look to ComplianceLine for employee Training and Specialty Solutions for Exit Interviews with employees, Inclusivity initiatives, and CrisisLine Response coverage.
Whether you’re most concerned about staying within SEC and FINRA guidelines or protecting the reputation that built trust with clients whose money you manage, you know that misbehavior from a single individual can damage your entire organization. A wise investment in a properly scoped and professionally managed compliance transparency program can make the difference between an internal review and a public hearing followed by an expensive settlement.
