New offering enables companies to develop a comprehensive view of compliance and assurance risk over time
DUBLIN, June 29, 2022–(BUSINESS WIRE)–Global provider of conduct and compliance risk management technology MCO (MyComplianceOffice), today announced the launch of its new governance and oversight suite, Know Your Risk (KYR) . KYR is a modular solution that enables companies to set regulatory priorities, identify policy and procedure gaps, and provide proof of compliance with metrics and documentation.
The acquisition of the Governor software served as the genesis of KYR. Full integration with the MyComplianceOffice platform, including access to the same data sources as other MCO products, provides companies with a complete overview of their organization’s risk profile.
“Compliance managers must be agile and forward-looking to manage both their current risk portfolio and emerging threats. KYR provides compliance teams with an understanding of gaps and overlaps in the policy framework and corporate control, as well as the ability to prove compliance assurance,” said Richard Pike, Managing Director of MCO. “KYR effectively enables CCOs to better understand the relationship between the frontline activities of the business and compliance monitoring activities.”
MCO’s KYR solution can be summarized as a “5A” set of capabilities:
Aawareness regulatory change
Alineage from policies and procedures to the firm’s regulatory obligations
AEvaluation regulatory obligations at the company’s compliance expense
Ainsurance stakeholder compliance with data from all lines of defense
Aresponsibilitydistribution and mapping of roles and responsibilities within the company
MCO CEO Brian Fahey said, “Financial services companies face changing regulations and increasing scrutiny around the world. Compliance needs to easily understand the impact of regulatory developments to implement the right controls and prove assurance. The launch of KYR is the latest development in our mission to provide the most comprehensive compliance solution on the market.”
About MCO (MyComplianceOffice)
MCO provides powerful compliance management software that businesses around the world use to reduce the risk of misconduct. The MCO solution enables companies to resolve transactional and personal conflicts of interest on a single platform. It is the only comprehensive and fully integrated compliance management platform that uses a master global business and security data set to identify conflicts between business transactions (transactions, research and exchanges), employees and third parties. mycomplianceoffice.com
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Lisa Deschamp, Vice President, Global Marketing