A corporate obligation is a logical representation of multiple overlapping external requirements, legislation, and standards. Obligations are created to summarize highly correlated external and internal rules to allow streamlined management of compliance policies and controls.
Manual, difficult to maintain, and hard to report
Enterprises have a unique challenge of manually identifying similar rules across regulators, laws, and standards and summarize their compliance obligations. Financial Institutions today have a team of compliance professionals manually and painstakingly identifying the rules by regulatory themes and aggregating them based on commonalities identified in similar rules.
ARIA powered MANAGE OBLIGATIONS generates business obligations from regulatory text and internal findings making it simple to work and maintain. It allows financial institutions to easily report on obligations by product lines and regulators. It proactively tracks the impact of regulatory and internal changes to the obligations.
