New and Enhanced Features on Compliance.ai: December
February 1, 2023
Happy New year! While saying goodbye to 2022 in December, we focused on capabilities that help our clients collaborate and manage workflows more effectively.
We continued enriching our regulatory coverage, most notably adding new content and regulatory updates for legislations, regulations, insurance and finance related matters from US state regulators. We have also continued expanding our international regulatory coverage further within Singapore, Canada, France, Luxembourg, Australia and Hong Kong.
Consistent decision making: Ensure common workflow practices across your organization
Most of your multi-step workflows are designed with a clear, sequential flow of tasks. To ensure all of your team members follow task order accurately, we’ve added a new “Task Setting” section on the right hand panel of the workflow step design screen,which allows workflow admins to “block” assignees from working out of the desired sequence of events.
You can enable this feature by editing a workflow and checking the “don’t let assignees work on downstream tasks” checkbox.
Editing a workflow to block downstream tasks.
After you enable this feature, assignees will only be able to work on tasks that are “unblocked”.
Blocked tasks are inaccessible
We have also added a feature that allows you to limit the ability to update task due dates to specific roles for greater control. If you leave this field blank, any user can update a due date, as today.
If you are a workflow admin, you can take advantage of this feature to ensure consistent workflow decision making. Head to “Manage Workflow” to update your existing workflows.
Speed your tasks with more a more intuitive workflow experience
If you’re a regular workflow user, you’ll notice that we’ve reorganized task annotations to provide a more user-friendly, intuitive experience. You’ll notice that now, drop downs are listed first and comments found right before approval, mimicking a more natural flow for completing tasks.
Reduce the time spent looking for Regulatory Intelligence: One Source for Regulatory Intelligence: Expanding Regulatory Coverage
We continued expansion of our regulatory coverage. You can now follow recent regulatory updates across specific lines of business and jurisdictions:
Topic-based expansion:
Legislations: Related updates from Puerto Rico and Virgin Islands.
Regulations: Related updates from Illinois (IL-COOK and IL-LF) and Texas (TX-AUT).
Insurance: related updates from Tennessee and Maryland.
Finance: related updates from US Federal Housing Finance Agency, US Federal Financial Institutions Examination Council and North Dakota.
Jurisdictional expansion:
Singapore: updates from Singapore Parliament (SGP-PARL).
Canada: updates from the Canadian Bankers Association (CAN-CBA), Canada Department of Finance (CAN-DOF), The Mutual Fund Dealers Association of Canada (CAN-MFDA), Accessibility Directorate of Ontario (CAN-ONAD) and Credit Union Deposit Guarantee Corporation (SK-CUDGC).
France: updates from Banque de France (FRA-BDF).
Luxembourg: updates from Luxembourg Banker’s Association (LUX-ABBL).
Australia: updates from the Parliament of Australia (AUS-PARL) and Australian Securities and Investment Commission (AUS-ASIC).
Tip of the Month: Update your alerts to focus on the most relevant documents
Compliance.ai is constantly adding new sources to ensure we continue to provide the most comprehensive source of regulatory intelligence in the industry. When we add new sources, we don’t just start bringing in new documents going forward, we typically add older documents so you can take advantage of existing documents.
While access to older documents can be extremely helpful, they can “clutter up” your alerts and workflows. To avoid this problem, we recommend you update your alerts to include publication date. Adding Publication Date “in the last” x days or weeks to your alerts is a particularly useful way to solve this problem because this will ensure your alerts always remain current.
To add publication date to an existing alert, select the alert in question from Notifications and select Edit. When editing your alert, simply add the publication date to the search, choosing “in the last” if you want to take advantage of this feature.
You might also want to consider selecting the “official only” checkbox for Publication Date. This allows you to exclude documents for which Compliance.ai has used the date on which the document was added to the platform. This is used to provide an approximate date when no publication date is available from the source. In this case, particularly when we are adding a new source, these documents might be months or even years old.
If you are trying to update an advanced search alert to exclude documents without an official publication date, select the “Include Unofficial Publication Date” and choose “False”.
Please visit Agency Sources within the documentation section of our Developer Platform website and bookmark the pages as we update them frequently!
Update your Default Filters at any time to take advantage of our new regulatory sources.
We hope you enjoyed this product update!
Client feedback is always welcome. Please contact our support team with any questions or feedback or schedule a time to review our new features. Remember that you can always access the Training Center under the Help (?) section of the platform for more information.
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Asif Alam
CEO & Board Member
Asif Alam is the Chief Executive Officer at Compliance.ai. A leader in shaping disruptive technology, his experience includes building products using AI and natural language processing for GRC, payments, lending, risk, trading, and new solutions, from Fortune 500 companies to startups.
In his most recent role, he served as the Chief Strategy Officer of ThoughtTrace, unlocking new revenue streams and markets, and reignite portfolio growth. ThoughTrace was then acquired by Thomson Reuters in 2021.
He brings more than 20 years of management and business experience; increasing profitability, unlocking new revenue streams and markets, and reignite portfolio growth for companies like Thomson Reuters, Crux Informatics, and Finastra. Asif is a forward-thinking expert driving engagement via client forums, public presentations, and white papers.
Cesar Lee is a Principal at WRV, a venture capital fund focused on early-stage investments in hardware, semiconductor, and other technology-related companies. Previously, he was an investment professional at Riverwood Capital, a technology-focused, late-stage venture capital, and private equity fund. He began his career at RBC Capital Markets, where he was part of the Mergers & Acquisitions group for two years and the Equity-linked & Derivatives group for one year. While at RBC, Cesar spent a majority of his time working on M&A advisory transactions for technology companies.
Cesar’s investment experience includes buyouts, later stage, early stage and seed rounds. Cesar has completed transaction in the U.S., Latin America, and Asia, and in technology sectors including data centers, software, semiconductors, consumer electronics, robotics, big data, and internet.
Maria Devassy is a RegTech, Content, and Technology leader with over 20 years of experience helping companies bridge the gap between technology, product, and business. Maria has held leadership positions with MetricStream, KPMG, Oracle Corporation, and other technology companies. She has launched several successful RegTech products, business partnerships, and advised Fortune 100 clients on risk management, audit, advisory, and compliance business across Industries.
Hugh Cadden is a recognized expert in derivative financial and trading markets including futures, options, and swaps. Hugh is currently a senior consultant and expert with OnPoint Analytics, Inc. an economic, finance and statistical consultancy specializing in expert testimony for complex litigation. He has been specializing in the organization, operation, and regulation of financial and trading markets for over 40 years. Hugh’s experience includes both the public and private sectors and he has held senior level positions with the U.S. Commodity Futures Trading Commission including serving as Director of the Division of Trading and Markets and Deputy Director of Enforcement. He has been qualified as an expert on financial and trading market matters before the Commodity Futures Trading Commission, the Securities and Exchange Commission, the U.S. Tax Court, Financial Industry Regulatory Authority, National Futures Association, American Arbitration Association and federal courts.
Drake Ross is a former bank regulator who specialized in compliance with consumer protection regulations while at the OCC, FDIC, and OTS. While at these agencies, he provided extensive training and guidance and developed materials to ensure full comprehension and proper application of rules, laws, policies, and guidance, and served as a Subject Matter Expert in numerous areas. Because of his expertise, he often presented at agency and industry events. He also played a significant role in successful windup of the 2008 IndyMac Bank failure, where because of his extensive knowledge of the FDIC deposit insurance regulations, he was called upon to administer highly-complex insurance determinations.
Carliss Chatman is an Assistant Professor of Law teaching Contracts, Agency and Unincorporated Entities, Corporations, and Transactional Skills. Her work is influenced by over two decades of service on non-profit boards and involvement with community organizations. Through leadership positions, she has developed expertise in corporate governance and non-profit regulation. She has also been instrumental in strategic planning and fundraising efforts. Prior to law teaching, Professor Chatman was a commercial litigation attorney in Houston, Texas. In practice, she focused on trial law, appeals and arbitration in pharmaceutical, health care, mass torts, product liability, as well as oil, gas, and mineral law. In addition to negotiating settlements and obtaining successful verdicts, Professor Chatman has also analyzed and drafted position statements regarding the constitutionality of statutes and the impact of statutory revisions for presentation to the Texas Legislature.
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Mariam is an Operating Principal at Cota Capital. Mariam has experience providing guidance on strategic and operational planning to Venture and Growth stage companies. Prior to Cota Capital, Mariam spent her career in management consulting as a Director at KPMG. She has experience leading global transformation programs and developing innovative service offerings for Fortune 500 companies in the Technology sector. Mariam has an MBA from UCLA’s Anderson school of management with an emphasis in Finance and Entrepreneurship. She has a Bachelors in Science in Finance and a Bachelors in Science in Economics from Santa Clara University.
Chris Callison-Burch is an Associate Professor in Computer and Information Science Department at the University of Pennsylvania. His research interests include natural language understanding and crowdsourcing. He has served the Association for Computational Linguistics as the General Chair for the ACL 2017 conference, as an action editor for the Transactions of the ACL, as an editorial board member for the Computational Linguistics journal, and an officer for NAACL (the North American chapter of the ACL) and for SIGDAT (the special interest group for linguistic data and corpus-based approaches to natural language processing)
Tom Ladt is an experienced executive and investor. Tom has lead and served on the boards of several public and private companies serving highly regulated industries such as technology, healthcare, real estate, and food processing. Tom has also served in key governmental roles and on numerous community boards.
Jeroen Plink is a global executive with a proven track record of developing and growing businesses, teams, and technologies with innovation and passion. Jeroen was CEO of Practical Law US during its acquisition by Thomson Reuters. He now serves on numerous boards and acts as a strategic consultants for start-ups.
Global Legal and Compliance executive with 15+ years of success in the SaaS technology and financial services industries. Partner to the CEO and executive team in corporate transactions, business development, product expansion, and regulatory navigation during periods of intense growth and organizational change. An advocate of effective risk management that starts with sound business practices and putting the customer first.
Richard Dupree has held multiple Risk, Compliance and Operations positions at regional, national, and global financial services firms including Wells Fargo, Silicon Valley Bank, Bank of the West and BNP Paribas. Rick currently advises FinTechs and RegTechs and sits on industry panels, contributes to industry whitepapers, thought leadership efforts, and speaks at industry seminars on Risk and Compliance challenges faced by banks and FinTechs.
Brian advises clients on legal and regulatory compliance in the financial, tech, and procurement sectors. His passion is helping businesses succeed in heavily regulated environments. As counsel and trusted advisor to businesses of all sizes, and as a former regulator, policymaker, and federal official, Brian acutely understands the unintended burdens that even well-intentioned government requirements can put on innovation and business growth, as well as how to create policies that strike the right balance.
Brian served as National Ombudsman in the Obama Administration, leading the federal Office of Regulatory Enforcement Fairness in assisting hundreds of startups, entrepreneurs, and small business owners in every industry and every state.
Dr. Marsha Ershaghi Hames is Managing Director of Strategy & Development at LRN, a leader in advising and educating organizations about ethics and regulatory compliance, as well as corporate culture, governance and leadership. With the focus of inspired behavior versus required behavior, LRN is a leading voice in the industry for companies to build ethical cultures instead of “check-the-box” compliance approaches. She’s advised Department of Justice corporate monitors on successful program transformation under CIAs (Corporate Integrity Agreements. With over 20 years of experience in leading multinational ethics and compliance strategies, Marsha has become a highly sought-after thought leader on leading Corporate Compliance and Ethics practices.
Carla Carriveau is currently the Senior Managing Counsel at Wealthfront, an automatic investment service firm in Redwood City, California. Carla was previously Senior Counsel, Division of Trading and Markets, at the United States Securities and Exchange Commission. As a former regulator with over 15 years of experience in helping small businesses navigate legal and regulatory needs in the financial services sector, Carla advises Compliance.ai on financial services regulation, the regulatory landscape and industry practices.
