Product Overview of ComplySci
ComplySci is a sophisticated and scalable compliance management platform designed to help firms of all sizes, including startups, small to medium-sized businesses, and large enterprises, manage and mitigate various compliance risks. Here’s a detailed look at what the product does and its key features.
Purpose and Functionality
ComplySci is tailored to address complex regulatory and compliance challenges, particularly in the financial services, risk management, accounting, investment management, and insurance sectors. The platform automates tasks, monitors compliance protocols, and adapts to evolving regulatory landscapes, ensuring that firms remain compliant with current and emerging regulations.
Key Features
1. Personal Trading and Surveillance
- ComplySci monitors and reports on employee personal trading activities, aligning with platforms like Intapp’s DealCloud and Intapp Conflicts to identify and document firm and individual-based conflicts.
2. Compliance Administration
- The platform includes features such as code of ethics management, gifts and entertainment tracking, political contributions monitoring, and outside business activities oversight. It also handles attestations, certifications, disclosures, and case management.
3. Risk Management and Alerts
- ComplySci offers risk alerts and a comprehensive risk assessment module to help firms identify and mitigate potential risks. The Undisclosed Account Alerts feature proactively identifies unreported brokerage accounts through access to over 200 broker feeds.
4. Audit Trail and Compliance History
- The platform provides a detailed audit trail and archiving capabilities, ensuring a comprehensive history of compliance checks, actions, and resolutions. This reduces the risk of penalties and improves transparency.
5. Data Protection and Security
- ComplySci’s Black Box Firm Trade API allows institutional asset managers to send firm trade data securely without revealing proprietary strategies. The platform also enhances cybersecurity efforts, including communications archiving and vendor due diligence tracking.
6. Policy Management and Training
- The software includes policy management tools and training and education modules to ensure employees are aware of and comply with regulatory requirements and company policies.
7. Reporting and Analytics
- ComplySci provides robust reporting and analytics tools, offering dashboards and insights into compliance data. This helps firms make informed decisions and maintain compliance with regulations such as SEC Rule 206(4)-1.
8. Third-Party Integrations and Mobile Access
- The platform integrates with various third-party systems and offers mobile access, ensuring seamless navigation and accessibility across different devices.
9. Automated Alerts and Pre-Clearance
- Automated alerts and pre-clearance features streamline compliance processes, improving efficiency and reducing the risk of non-compliance.
Additional Capabilities
- Intapp Partnership: ComplySci’s partnership with Intapp enhances its conflict checking capabilities, providing holistic search functionality, a configurable system for conflict checks, and streamlined requests for conflict checks.
- Cybersecurity and Vendor Due Diligence: The platform includes integrated capabilities to enhance cybersecurity protocols, archive and review employee communications, and track vendor due diligence, particularly beneficial for small to medium-sized firms.
In summary, ComplySci is a comprehensive compliance management solution that automates compliance tasks, monitors regulatory adherence, and provides advanced risk management and reporting tools. Its scalable design makes it suitable for firms of all sizes, helping them navigate complex regulatory landscapes efficiently and effectively.