Reduced cost. Improved efficiency. Enhanced reporting. Better decisions

Many different sectors have a regulatory or risk management obligation to carry out due diligence on third party firms that may present a compliance risk, for example banks in respect of cryptocurrency or money service businesses and payment services firms in respect of their agents. Compliancy.CAM combines subject matter expertise and technology to provide you with a more efficient and effective process.

Risk adjusted assurance

Using an innovative and lower cost e-audit to collect and assess risk data allows you to select the firms that require enhanced due diligence, often in the form of an onsite audit

Data codification and storage

Due diligence questions and marking system defined and managed by subject matter experts, providing a quality assured and consistent method of assessing risk

Reporting suite

On demand access to downloadable dashboards and reports, enabling you to examine risk at different levels and more easily spot emerging trends

HOW IT WORKS

COLLECT

It would be cost prohibitive to carry out onsite due diligence for all third party firms – and is just not required by the FCA as they expect proportionate risk controls. A well designed customer due dilgence (CDD) process should allow you to efficiently and consistently assess and categorise risk and only select firms that present higher risk features for enhanced due diligence (EDD).

Compliancy.CAM provides an easy to use online data gathering tool that gathers the requisite risk and compliance data. Subject matter experts define the question set which includes your own distinct requirements. The auditee completes the risk assessment checks at their convenience.  

ANALYSE

Compliancy Services’ subject matter experts assess completed audits informed by a questionnaire construct marking scheme which is tailored to your own needs and risk framework.  Higher risk firms are then identified for enhanced due diligence (EDD), with subject matter experts defining the onsite audit to ensures a consistent approach and marking system. 

All results are stored in Compliancy.CAM, building a database of information allowing you to view and manage the associated risks and identify changes and trends over time.

MONITOR

Workflow processes allow you to view due diligence completion progress, you can examine individual firm responses and view supporting documentation, explore trends and get real time reporting across the portfolio, countries or all auditees.

Downloadable graphs and charts enable you to build your own risk reports that identify your risk performance, identify individual or portfolio risks, look at the current audit and compare to past audits, drill down to individual questions or risk areas, and benchmark third party firms against each other.