COMPLIANCE ADHERENCE ASSESSMENT TOOL FOR REGULATORY REPORTING

摘要

Embodiments of the invention are directed to a system, method, or computer program product for a compliance adherence assessment tool for regulatory reporting. The tool provides a self-explaining check for and evaluation of completeness of a compliance regulatory report. In this way, irrespective of the location or group within an entity, the report is generated from, the processing and compliance adherence will be uniform across the entity. Furthermore, the tool aids in creating a uniform reporting process that weighs potential exposures and mitigates those exposures for regulatory reporting across an entity.

主权项

1. A system for compliance adherence for financial regulatory reporting, the system comprising:
a memory device with computer-readable program code stored thereon; a communication device; a processing device operatively coupled to the memory device and the communication device, wherein the processing device is configured to execute the computer-readable program code to:
generate a procedure template for regulatory reporting;update the procedure template with policies and local regulations for a specific financial report;present assessment tool for the financial report to a user via an interface, wherein the assessment tool provides a checklist of items to complete for compliance and an order associated therewith;receive ranking of exposure elements for each of the checklist of items;apply logic to received ranking of exposure elements to identify weighted exposure ranking for each of the checklist of items to identify impactful exposures, wherein the weighted exposure rank is based on the received rank of the exposure elements, the checklist item associated with the exposure elements, and the financial report;update the procedures template for the financial report with mitigation steps for the impactful exposures, wherein the updating creates a unique procedures template for the financial report;provide the unique procedures template to initiate financial report creation; andcreate uniform financial reports across an entity using unique procedures templates created for each of the required financial reports across the entity.