April 29 event will spotlight benefits that automation brings in managing firms’ regulatory obligations.
Experts from Wolters Kluwer’s Compliance Solutions business and IBM Watson Financial Services will discuss ways in which financial institutions are leveraging technology to manage more effectively their regulatory compliance obligations in a webinar, “Regulatory Change Management: The Benefits of Automation” on Wednesday, April 29, 2020 from 10-11 a.m. EDT.
Wolters Kluwer’s Mike MacDonagh, Global Content and Strategy Lead, Compliance Program Management (CPM), and Elaine Duffus, Senior Specialized Consultant, CPM, will be joined by IBM’s Tom Wisehart, Senior Program Manager, Regulatory Compliance Management, to present international and U.S. case studies. They will also do a live demo of Wolters Kluwer’s regulatory compliance content as part of its OneSumX for Regulatory Change Management offering to showcase the capabilities that financial institutions can access through IBM’s Open Pages platform to help reshape their regulatory change management processes.
Wolters Kluwer and IBM are collaborating for the delivery of Wolters Kluwer’s market-leading, enriched regulatory content into IBM’s Open Pages regulatory compliance platform for its OpenPages financial services clients. Enhanced regulatory content enables OpenPages business clients to strengthen their regulatory change management efforts and overall compliance initiatives via daily regulatory data feeds. Regulatory changes are all the more fluid in the current environment, where the COVID-19 pandemic is increasingly impacting the financial services industry and its customers.
“Managing regulatory change presents huge challenges for financial institutions, as they are required to keep pace with a vast array of constantly evolving laws and regulations, wherever they do business—while proving compliance to regulators,” says Steven Meirink, Executive Vice President and General Manager for Wolters Kluwer Compliance Solutions. “Advanced technologies, when used in concert with human experts to validate the regulations relevant to their businesses, are providing financial institutions a higher level of assurance in effectively identifying, tracking and managing all of their regulatory obligations.”
The April 29 webinar will delve into key compliance program management elements needed to foster compliance in a constantly evolving regulatory environment. Those elements include:
- Comprehensive coverage of the laws, rules, regulation and guidance for insurance, securities, and banking regulatory bodies and agencies globally
- Structured content that presents the same fields regardless of document type and regulatory agency for ease of review, assessment, and reporting
- Regulatory change management updates dynamically linked to the relevant areas within one’s regulatory library to help expedite review and quickly assess impact
- Regulatory content configured to relevant regulators and agencies that can be further tailored via document type a firm wants to receive or suppress for each regulator or agency
- Content delivery every business day in a universally accepted XML format.