Our machine learning models automatically assess content in regulatory policy, identify requirements, classify changes by business and operational topics, and highlight obligations and enforcement actions.
With Compliance.ai, you can rapidly understand regulatory impacts and effectively react to regulatory change.
Regulatory Impact Analysis With Expert-in-the-Loop
Legal, risk, and compliance teams rely on Compliance.ai’s unique Expert-in-the-Loop methodology to automatically scan regulatory content, summarize new information, classify changes by business and operational topics, highlight obligations, and identify the impacted controls, policies, and business processes.
Our clients know that Compliance.ai delivers accurate and complete information because we understand that machine learning requires expert oversight to validate the results of regulatory impact analysis. That’s why our regulatory impact processing includes review and validation by legal, risk, and compliance experts to review regulatory updates.
Expert-in-the-Loop saves time, reduces compliance costs, and boosts confidence that the team understands the impact on their firm and has compliance buttoned up.
Automatically Identify Obligations
Automatic obligation analysis eliminates speed regulatory impact analysis by significantly reducing tedious and error-prone tasks such as manual line-by-line analysis of regulatory documents.
Our regulatory impact analysis capabilities automatically scans each regulation and other regulatory content to highlight new regulatory obligations. Compliance teams then receive a summarized list of obligations for each regulation or regulatory policy.
Compare Regulatory Documents with Ease
Compliance.ai instantly identifies differences between regulatory documents – including updates and revisions to a previously issued document – and determines whether there is new information that will impact any of your lines of business. This approach replaces the tedious process of exporting regulatory changes and conducting line-by-line manual analysis.
Analyze Across Jurisdictions
Our regulatory change management solution automatically compares regulations and obligations across all of the jurisdictions relevant to your firm. Simply select the jurisdictions and documents you want to compare and let the application do the rest of the work for you.
Include Your Own Expertise
As a legal, risk, and compliance professional, you will often have some experience and insight of your own that your colleagues need to know about.
With Compliance.ai, you can add Annotations for any document to provide additional context and guidance for your team. Annotations allow you to include additional labels at the document level, specify subtopics and micro topics, and add commentary. In addition, file attachments—such as policies and procedures, risk and control frameworks, analyses, and more—will speed up the work needed to ensure compliance.
New tags and labels help to improve searches and filtering. All information is also available in one place for the team members who need to complete related change tasks or do their own research and analysis.
Even More Expert Guidance
Engage subject matter experts from the Compliance.ai alliance of partners – directly from the solution. Our advisory and content partners help compliance teams to better understand what’s involved in achieving compliance and to ensure the appropriate changes to controls, policies, and processes.
Why Are Compliance Professionals So Stressed?
Do you know how much time and effort your team spends on regulatory impact analysis? Typically there are up to ten steps involved:
1 Find regulatory changes by digging through the websites and documents issued by numerous agencies in various jurisdictions, news publications, whitepapers, executive orders, supervisory guidance and enforcement actions.
2Transfer information about regulatory changes that may impact the firm into spreadsheets to determine the regulatory impact. This means that, although the compliance team has carefully reviewed multiple sources of regulatory change and guidance, they have already wasted precious time finding and managing information that may not apply to the firm’s lines of business.
3 Conduct regulatory impact analysis by assessing each line of the regulatory documents to identify obligations, rights, constraints and exceptions, and make manual annotations throughout the documents.
4
Consult experts when guidance is ambiguous or to ensure that anticipated changes align with the approaches used by others in the industry. This step can be particularly time-consuming and expensive as the compliance team member may need to find a reliable resource that the company has not previously used and specialized expertise is very costly.
5
Determine whether the regulatory change results in obligations for one or more lines of business.
6Identify the line of business individuals responsible for making the required change from the regulatory impact and assign the change task and a deadline. Often, these tasks are assigned during meetings, email messages or through other mechanisms that are not easily monitored or auditable.
7Follow up with the task owners and track the changes task to completion to ensure that the regulatory impact is addressed. This multi-step process can be particularly prone to error or omission as the required change may be complex to implement and require a long period of time to complete. During that time, there may be turnover in staff or the attention to other activities can lead to forgetting to follow up.
8Conduct a manual review to ensure that the implemented changes are operating effectively.
9Periodically report to management any exceptions or incomplete tasks.
10Collect and recheck regulatory documents, meeting notes, spreadsheets, and emails to prepare evidence of compliance for audits and exams.
That's a lot of work. Worse, some of that work is not even required.
Regulatory impact analysis doesn't have to be so tedious. Learn how RegTech can help you.
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.
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