As the workforce goes increasingly mobile, highly regulated financial firms are faced with a constant barrage of new regulations and the tough issue of ensuring that they can enable their employees to access applications on the go while staying compliant.
According to global research firm Gartner, by 2018, 70 percent of mobile professionals will conduct their work on personal smart devices.
To address the issue, Stroz Friedberg, a global digital risk management and investigations firm, has launched a new desktop and mobile application, Navigator, designed to bring a company’s compliance policies to mobile devices.
The software provides users with real-time answers to questions about relevant policies. It also automates the approval process, giving employees direct answers to their compliance requests and simplifying the process for compliance professionals, according to a release.
Another of Navigator’s benefits is the ability to create, through Stroz Friedberg’s established data warehousing capability, a secure database of enterprise-wide compliance activity for each client.
The procured data allows compliance professionals to make data-driven decisions on everything from how to vary substantive training to what areas internal audit should review. Further, it allows efficiencies for annual compliance audits and subpoena compliance, Stroz Friedberg noted. “Good compliance policies, by nature, are designed with a great deal of complexity, but that very complexity is often a roadblock to employees understanding or following the rules,” said Scott Peeler, managing director and leader of the compliance Navigation service offering at Stroz Friedberg, who designed the application.
“Navigator puts that complexity in the background where it belongs, removing barriers that all too often keep employees from reviewing and using compliance resources at the critical moment when their failure to do so can be so devastating. It really puts compliance in the palm of your hands.”
Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio