Compliance consulting and software vendor Cordium has just launched Pilot, a new compliance workflow management system, officials say.
Pilot is designed “to manage complex compliance and operational tasks from start to finish,” and thus help compliance professionals manage and keep on top of their workload, according to a company statement.
Pilot centers around an interactive compliance calendar that “allows firms to build and organize their day-to-day compliance and monitoring tasks into a scalable, dynamic environment where they can assess risks, prioritize activities, track, monitor and document their entire compliance program,” the statement says.
That, in turn, allows Pilot to create an audit trail that can be easily accessed for purposes of compliance reporting. Pilot also contains a task library of continuously updated regulatory rules and guidance data from a variety of global regulators. Multiple calendars can be created to track and separate tasks across business lines or regulatory jurisdictions.
“In this world of complex global regulation that combines an increasing number of regional regulators and assimilates their rules, it is imperative that firms are able to stay in charge of their compliance program,” says Jordan Schwartz, Cordium’s director of global software solutions, in a statement. “This highly intuitive software solution, which is the evolution of ComplianceTrak, appeals and applies across all jurisdictions and handles any firms’ regulatory requirements, even beyond the financial services sector. It is the new way for CCOs and compliance professionals to deal with the complex and ever expanding compliance workload.”
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