Regulatory & Compliance Management

Non-compliance a serious challenge to growth Leadership on compliance by the board and senior management sets the tone in an organization. The board is ultimately responsible for developing, administering, and monitoring the compliance management system to ensure regulatory and statutory compliance. Effective compliance management system is commonly comprised of three interdependent elements:
  • Board and management oversight
  • Compliance program
  • Compliance audit
When all elements are strong and working together, an institution will be successful at managing its compliance responsibilities and risks both in the present and in future. The formality of the compliance program is not as important as its effectiveness. This is especially true for small institutions where the program may not be in writing but an effective monitoring system has been established that ensures overall compliance. Regardless of the degree of formality, all organisations are expected to manage their compliance programs proactively to ensure continuing compliance. Compliance efforts require an ongoing commitment from all levels of management and should be a part of an institution’s daily business operations. Most organisations, especially in the mid-market segment have been relying on manual systems to manage and monitor their compliances.  Since the compliance requirementsIn the United States, compliance requirements are a series of directives United States federal government agencies established that summarize hundreds of federal laws and regulations applicable to federal assistance (also known as federal aid or federal funds). They are currently incorporated into the OMB A-133 Compliance Supplement, which was created by the US Office of Management and Budget (OMB). View More have started becoming more complex and stringent and the cost of non-compliance, both monitory and non-monitory, has started going up, companies are beginning to realise that the manual systems do not provide clear visibility into organisation’s risk and compliance profiles. In fact, manual systems bring down efficiency and escalate the risk of non-compliance. We have built, NavigoThe Navigo pass or Passe Navigo is a means of payment for public transportation introduced in the Île-de-France region (whose capital is the city of Paris) in 2001. It is implemented as a contactless smart card using the Calypso standard, and enables authenticated access at turnstiles by passing the card near an electronic reader. View More, an effective and efficient Compliance Management System to address the above-mentioned concerns and enable mid-market companies to manage the regulatory and statutory compliance requirements Navigo enables companies to not only ensure compliance and better corporate governanceCorporate governance broadly refers to the mechanisms, processes and relations by which corporations are controlled and directed. Governance structures and principles identify the distribution of rights and responsibilities among different participants in the corporation (such as the board of directors, managers, shareholders, creditors, auditors, regulators, and other stakeholders) and includes the rules and procedures for making decisions in corporate affairs. View More but also in maintaining and Improving operational efficiency and ensuring that the companies avoid fines, penalties, prosecution, imprisonment and show cause notices Our Value Proposition Identify regulatory and statutory compliance requirements applicable to organisations and implement a compliance management process for effective oversight. Design and implement a compliance management policy for effective oversight and reporting of critical non-compliances