Your compliance officer must be equipped to meet regulatory challenges head on. With every new rule change or legislative act, they will have to understand how it impacts your business, document new policies, and communicate these changes to the rest of your organization. Corporate Compliance officers don’t need to be technology experts, but they need to know how to leverage integrated risk management solutions to make their jobs easier.
Some compliance officers spend one-third of their time keeping up with compliance & regulations. The escalating and shifting demands of today’s regulatory environment are unlikely to subside anytime soon. Regulation is only likely to continue to increase and get more complex and burdensome. Use Ignyte to help understand what cyber and technology legislation and regulation applies to your organization and how that should be interpreted.
Compliance regulations are increasing at a faster pace that is hiring for additional resources to help meet these new requirements. Many organizations are not adding staff to meet their compliance needs; they are just asking compliance officers to do more work with fewer resources. While there is a cost to adopt technology solutions, Ignyte can produce a demonstrable ROI. Leverage Ignyte to help streamline processes, enable your people can do more in less time, and reduce compliance spending for your organization.
New technology presents new challenges, as Compliance Officers must stay one step ahead to ensure they are aware of all the potential risks they face. The increasing use of technology and the emphasis being placed on the “why” and “how” a business is being conducted, beyond just the “what,” are also pressure points.