By, Cody Roberts
ABS clients have come to expect (and receive) great customer service. How do we always achieve this? By constantly exploring ways to keep our clients informed of new regulatory developments. That’s why we’re introducing these new alerts for CompliancePro clients.
CompliancePro is ABS’ fully automated browser-based software system that enables institutions to manage and monitor compliance performance efficiently and effectively. It serves as the compliance assistant that positions institutions to optimize performance, while minimizing expenditures of both time and money to assess, manage and monitor compliance risk by product or service. And as regulations change, CompliancePro is updated to provide accurate monitoring procedures for each institution.
These new alerts will be sent via email as soon as possible after a change release (e.g., Federal Register, regulator press release, etc.). The alerts will include a Regulatory Change Impact Assessment form, so clients can easily track and record activities in their institution to implement the change. The form will help the institution address matters such as identifying items for change, communicating changes, creating or revising internal items, training, implementation and follow-up implementation testing. Finally, the alert will include insights on the change from our team of compliance experts.
We look forward to sending these alerts to keep our clients informed of the many developments in the compliance world between software releases.