GRACE Broker-Dealer Compliance Management

The deluge of regulatory changes and examinations from SEC/FINRA post the market crisis and the resulting regulatory fines and reputation loss have made it necessary Broker Dealers to conduct comprehensive risk assessments and compliance monitoring across their branches and advisors.

The records of these risk assessments, issues and issues monitoring across the board has to be produced during the regulatory audits and examinations from FINRA, SEC, CFTC.

Working with Excel sheets and monitoring compliance is an option that is possible but leaves the organization with a lack of a central information base to work with and prone to many issues.

Working with a web based system like GRACE Broker Dealer Compliance Management System will enable you to build a central system that can implement your compliance process across the organization with least effort and cost and establish the “Culture of Compliance”.

GRACE Broker Dealer Compliance Management System provides you with a collaborative tool which encompasses the Compliance department, Branches and Representatives (Reps) to build a central repository of information, work flow and analytics to be able to stay on top of all issues as they occur and ensure their mitigation. It creates early visibility into problems to control them from escalating and creating a regulatory / reputation issue.

It automates compliance management and oversight process through its streamlined functions for forms for online reporting for Outside Business Activities, Personal trades, Registration, U4, ADV, gifts and political donations, expenses, conflicts of interest, to the organization. It provides pre-approval and approval / rejection work flows, assessment checklists, risk assessments and findings management functions for branches and reps to identify issues and risks to the powerful dashboard. It allows policies and procedures to be set, reviewed, released as well as training and attestation process to ensure that the organization is fully informed of the expectations on compliance. It also captures all data, documents, reviews and comments associated with these activities and provides a single repository of information that can be easily retrieved and offered for audit and regulatory examinations.

GRACE Broker Dealer Compliance Management System with its hosted model / in-house approach can help you to start your Compliance management program as soon as you sign up without the need to have your own internal hardware infrastructure. It is a very modular system. You can buy the modules you want as per your priorities.

- Early identification and prevention can protect you from fines from regulatory and reputation issues
- Helps senior management be confident that they are conforming to their fiduciary duties
- Creates a culture of compliance
- Builds the Enterprise ownership of knowledge and reduces people dependency

- Build a central repository of records of compliance monitoring
- Be efficient, standardized and integrated in approach to compliance management and avoid violations
- Have alerts to help you ensure that you gather information periodically and consistently to build the compliance dossier
- Be able to provide information to regulators for examinations for proof of compliance
- Be able to analyze identify compliance risks
- Search and retrieve information is at least time and cost

Written Supervisory Procedures

- Allows you to build the repository of Written Policies and Procedures through functions where you can add, update, review and release policies, procedures, manages versions and histories
- Provides access to the latest policy and procedure to the organization
- Allows query and retrieve of the WSPs on demand for your regulatory examinations

Regulations Database

- Helps you keep a repository of regulations and do an impact analysis in case of changes in regulation and manage the change process

Internal Process Assessments & Audits

- Provides Calendaring for Assessments & Audits
- Allows to set up standard assessment checklists
- Record findings, do impact analysis, identify issues and risks from the findings and establish a process for risk mitigation
- Manage the mitigation process thru task reporting
- Provides alerts on due and overdue dates

Branch / Office of Supervisory Jurisdiction (OSJ) Assessment

- Set up Branch / OSJ Assessment Calendar
- Understand Products and Investor profile of branches
- Record Supervisory structure within the branch
- Record the reps and investors that are serviced from the branch
- Set up assessment checklists that address the branch specifics
- Conduct online branch assessments and allow the branches to login and answer the questions relevant to them
- Record findings, issues and risks including information from site visit
- Issue lists for each branch that can be shared with the branch, assign issue / risk mitigation responsibility
- Monitor progress of tasks
- Provide alerts on due dates, over dues and late dues in activities and tasks

Branch/OSJ Assessment Dashboard

- Branch Compliance Dashboard across all branches for the Compliance Department to monitor assessments, findings, issues and mitigation task monitoring
- Dashboard at Branch level to monitor their branch compliance issues and mitigation monitoring

Rep Functions

- Rep set up & On boarding
- Product Marketing Materials for clients
- Forms to report Outside Business Activities, Personal trades, gifts political contributions, personal trades, expenses, conflicts of interests, U4, ADV and Registration Status
- View of Approval/reject status for approval requests sent for compliance
- Investor information – profile, objectives, restrictions and guidelines reporting to Compliance

Rep Assessment

- Rep Assessment Calendar
- Understand Products and Investor profile
- Rep checklists and on-line assessments online
- Record findings, issues and risks including information from site visit
- Draw up the Issue lists for each Rep that can be shared with the branch/rep assign issue / risk mitigation responsibility
- Monitor progress of tasks for issue management
- Provide alerts on due dates, over dues and late dues in activities and tasks
- Rep Portal for them to share information with the Branches and ensure the approval process

Compliance Functions

- Review of Outside Business Activities and recording additional information, raising issues if seen and follow up to monitor mitigation
- Recording and Review of Conflicts of Interests, raising issues if seen and follow up to monitor mitigation
- Manage pre-trade requests, pre-gifts and political contributions, expenses and identifying issues and follow up to monitor mitigation
- Monitoring trades and verify best execution, investor guideline conflicts, suitability reviews
- Monitor personal trades to identify conflicts and ensure mitigation
- Investor Due Diligence for KYC, CIP, AML
- Investor transaction, fees and guideline monitoring
- Investor Complaints Management
- Issue assignment, and mitigation monitoring
- Risk trends with graphics and reports
- Queries and Reports to view, print and export to Excel / PDF formats

Training

- Training Calendar
- Assignments with Alerts
- Training Status Monitoring

Attestation

- Send Documents for Attestation
- Online Attestation for documents
- Status of attestation requests

My Portal

- Alerts on calendar due dates
- Branch Portal and Rep Portal for Users to answer risk assessments
- Forms for users to report Outside Business Activity, Personal trades, Gifts, Donations, Expenses, U4,ADV, Investor Information
- Risk and Task Reporting

Dashboards

- Compliance Dashboard for Compliance Officers with Slice and dice & deep drill down on all information gathered
- Branch Dashboards for Branches
- Rep dashboard for reps
- Issues, risk and mitigation management and trends with graphics and reports
- Queries and Reports to view, print and export to Excel / PDF formats