Solutions  > Compliance

Compliance

Monitor Internal Controls and Ensure Regulatory Compliance

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Control Repositories

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Identify, distribute and assign control activities across your organisation. 

Control Monitoring

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Automated control assessments enable you to continually monitor the effectiveness of your control framework.

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Compliance Checklists

Fully configurable compliance checklists used to gather consistent information across businesses, geographies and time.

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Policy & Regulation Libraries

Distribute key policies and regulations to relevant individuals and track management signoffs.

The Optial platform's flexibility enables different approaches to the structure of control repositories, the distribution process and subsequent assessment.

  • Effectively track and manage controls throughout their lifecycle.

  • Hold control registers centrally or grant individual departments authority to define their own registers.

  • Add attachments and link a control record to risks, loss events and other data.

  • Enables clear oversight of what is being controlled by whom.

  • Straightforward maintenance: update a control once and distribute to relevant areas of your organisation.

  • Define frequencies to automate the generation of control assessments.

Control Monitoring

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Automated control assessments enable you to continually monitor the effectiveness of your control framework.

A core feature of the Optial platform is its Checklist/Questionnaire functionality. This can be utilised across all modules, and is generally used for compliance monitoring and to aid the collection of information for audits.

  • Create checklist templates based upon external regulations, internal procedures or good management practice.

  • Variety of question types available including text, single choice, multi choice, date, currency values etc.

  • Distribute the checklists to the required individuals either manually or automate distribution via a frequency.

  • Include guide notes, attachments and other information to help the completer understand requirements.

  • Templates can consist of an unlimited number of sections and sub-sections for enhanced readability.

  • Add “Screening Questions” to ensure the user sees only those questions relevant to their business area.

  • Track checklist completion and automatically send reminders for incomplete checklists.

  • Responses can be individually scored, weighted, aggregatedand flagged as appropriate.

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Compliance Checklists

Fully configurable compliance checklists used to gather consistent information across businesses, geographies and time.

Optial provides the framework policy and regulation repositories, and can also act as a virtual aggregator where detailed policy and procedural documentation is already held elsewhere in electronic form – whether on a file server, on the intranet or publicly available on the Internet.

  • Maintain and distribute register of policies and regulations.

  • Policies and regulations can be linked to risks and controls for the purposes of reference and 360 degree visibility.

  • Track the acknowledgement of receipt of policies and regulations by managers in notified businesses and business units.

Control assessments can be automatically generated based upon a frequency, or created manually on an ad-hoc basis (due to a change in your control environment, an external regulation change, etc.).

  • Enable a consistent monitoring approach across your entire control framework.

  • Control assessments automatically assigned to the relevant individual within your organisation.

  • Completely customisable control assessment workflow.

  • Collect multiple points of information relating to the control during the assessment process.

  • Aggregate assessment responses to easily identify control deficiencies.

  • Automatically generate email notifications, reminders and escalations for incomplete control assessments.

  • Utilise full checklist-based assessments or simpler fixed status (compliant/non-compliant) assessments.

  • Ensure non-compliant control assessments capture additional information or are routed via a different escalation process.

Risk Control Self-Assessments

Manage your Risk Control Self-Assessment process via our standardised risk and internal control framework.

The Optial platform is ideally suited to support your organisation’s Risk Control Self-Assessment (RCSA) activities. Our Risk Managementand Compliance Management modules integrate seamlessly to provide organisations with a full suite of tools for effectively managing the entire process.

Business Value

The key benefits of the Optial Compliance module include:​

  • Fully configurable solution to suit a variety of established frameworks and regulatory requirements, e.g. COSO ERM, ISO 31000, Basel II, Solvency II, Sarbanes-Oxley etc.

  • Drive accountability throughout your organisation by ensuring visibility of data and providing automated email notifications, reminders and escalations.

  • Integrate seamlessly with other Optial modules (e.g. Compliance Management, Incident Management, Business Continuity Management etc.

  • Full audit trail keeps track of every update, showing who made what change, and when.

  • Full suite of reports ranging from user defined lists, to heat-maps, trends and fully interactive dashboards.

  • Complete control of how your organisation hierarchy is represented within the application and the roles and responsibilities defined in each entity.

  • Flexible workflow engine tailors the application to encompass your organisation's real world business processes.

  • Interface with existing software solutions to reduce data duplication.

  • Attach action plans to any data item to ensure mitigation requirements are fully tracked through to completion.

  • Flexible data export options enabling Optial data to be utilised in quantitative calculation programs, external business intelligence tools etc.

Reporting

The wide range of reporting options within the Optial platform gives you a complete overview of both the current status and the historical trends of your data.

  • View your data via dashboards, trends, heat-maps, radars, barcharts, line charts, grids, tables etc.

  • Produce structured management reports or external b in one click.

  • Save frequently used reports to your personalised “Home” screen within the application.

  • Self-service reporting available via a comprehensive list builder tool and advanced search functionality.

  • Reporting layer fully respects underlying access control, ensuring that all users can utilise reporting functionality.

  • Drill-through functionality available on all reports to view underlying business data.

  • All reports can be exported into a variety of formats (PDF, Excel, Word etc.).

  • Schedule reports to run based upon set frequencies to minimize manual intervention.

  • Reporting layer optionally accessible via your own Business Intelligence tools, including SSRS, Tableau, QlikView, COGNOS, SAP etc.

  • Multi language reporting is supported: the user can see report data in their native language, if required.

Configurable Solution

Where the standard Optial module does not exactly match business requirements, Optial's platform-integrated Configuration feature provides what the business wants:

  • Ability to tightly meet exact business needs through front-end configuration, not risky code.

  • Configuration is 100% guaranteed to be backwards-compatible over each Optial software version.

  • Achieve results rapidly, whether for production or proof of concept.

  • Ability to change over time, as business and regulatory drivers change.

  • Low Risk.

  • Cost Effective.

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