Compliance within the Financial Services Industry has become an even more important aspect of day to day operations. Swinton Group Limited is a nationwide insurance broker. They operate a number of trading divisions including Open + Direct Insurance, The Insurance Line, Swinton, Walmsleys Insurance Brokers ,Hara Hill Wason (HHW). The company is implementing industry best practice approaches to ensure they can demonstrate compliance with Financial Regulation and relevant Legislation. To that end they selected the industry leading Governance, Risk and Compliance vendor, Metacompliance, to provide Swinton Group with an automated policy management and user awareness system which will allow them to centrally manage policies and control standards.
Swinton is regulated by the Financial Conduct Authority (FCA) who carries out regular assessments of their conduct to secure an appropriate degree of protection for consumers. Swinton must ensure that they protect and enhance the integrity of the UK financial system.
Ensuring employees understand best practices around company and customer data is important to Swinton. MetaCompliance allows the company to track and analyse audit reports for each employee along with the policies and compliance content they have received and signed off on. The MetaCompliance Policy Management and Learning Management System can then easily test staff understanding of the Key Points, by enforcing a survey at the end of each policy or piece of elearning.
IT Security Manager from Swinton Group, Richard Fry, gave the following reason why his company selected the MetaCompliance governance software to meet their needs; “In a highly regulated environment such as ours it is essential that we can prove that our staff have read and understood regulatory requirements as it applies to them. MetaCompliance allows us to do this with great speed and flexibility, a truly useful product. “
“We are thrilled to have Swinton as a customer” commented Robert O’Brien, founder and CEO of MetaCompliance. "The Financial Services Industry finds itself at the center of a Regulatory "Perfect Storm" with increasing oversight combined with internal financial constraints. Swinton Group is among those organisations that will thrive in this new environment by meeting their compliance obligations head on and by involving their staff at all levels".
Metacompliance has a clear vision of making Compliance and IT Security easier for organisations. The software can ensure the active participation of all staff in compliance initiatives such as policies, elearning and surveys, thus mitigating the risk of compliance incident and the associated fines. The software can be used to demonstrate that staff understand content such as policies by being tested with questions. Delivering increased user participation in compliance and IT Security campaigns provides the audit information to generate reports that allow the organisation to demonstrate its “duty of care” to Regulators.
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