Listen "One Month to a More Effective Compliance Program Through Data Analytics: Day 17-Adapting Compliance Programs for Cloud Technologies"
Episode Synopsis
As organizations transition to remote work and embrace cloud technologies, it is crucial to adapt compliance programs to ensure regulatory obligations are met.
Companies are shifting away from traditional tools like Excel or SharePoint towards centralized systems that facilitate compliance monitoring. Compliance teams can no longer rely on face-to-face collaboration and need systems to manage communication, investigations, and case management. This shift towards virtual platforms for communication has also increased the need to capture and record voice data for compliance purposes.
Adapting compliance programs for remote work and cloud technologies is essential in the current business landscape. Compliance program visibility, capturing and recording communication data, leveraging cloud technologies, and embracing AI-driven compliance monitoring are key factors to consider. By balancing these factors and focusing on risk-based approaches, organizations can ensure they meet their regulatory obligations while enabling their compliance teams to focus on their core responsibilities. The future holds even more advancements in cloud technologies and AI, promising increased defensibility and improved compliance monitoring capabilities.
Three key takeaways:
1. Companies are shifting away from traditional tools like Excel or SharePoint towards centralized systems that facilitate compliance monitoring.
2. You must focus on the explainability and defensibility of your AI models.
3. By focusing on risk-based approaches, organizations can ensure they meet their regulatory obligations while enabling their compliance teams to focus on their core responsibilities.
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Companies are shifting away from traditional tools like Excel or SharePoint towards centralized systems that facilitate compliance monitoring. Compliance teams can no longer rely on face-to-face collaboration and need systems to manage communication, investigations, and case management. This shift towards virtual platforms for communication has also increased the need to capture and record voice data for compliance purposes.
Adapting compliance programs for remote work and cloud technologies is essential in the current business landscape. Compliance program visibility, capturing and recording communication data, leveraging cloud technologies, and embracing AI-driven compliance monitoring are key factors to consider. By balancing these factors and focusing on risk-based approaches, organizations can ensure they meet their regulatory obligations while enabling their compliance teams to focus on their core responsibilities. The future holds even more advancements in cloud technologies and AI, promising increased defensibility and improved compliance monitoring capabilities.
Three key takeaways:
1. Companies are shifting away from traditional tools like Excel or SharePoint towards centralized systems that facilitate compliance monitoring.
2. You must focus on the explainability and defensibility of your AI models.
3. By focusing on risk-based approaches, organizations can ensure they meet their regulatory obligations while enabling their compliance teams to focus on their core responsibilities.
For more information on KonaAI, click here.
Learn more about your ad choices. Visit megaphone.fm/adchoices
More episodes of the podcast 31 Days to a More Effective Compliance Program
Day 28 - The Importance of Data Governance
28/01/2025
Day 26 - CCO Authority and Independence
26/01/2025
Day 24 - Internal Reporting and Triage
24/01/2025
Day 23 - Investigative Protocols
23/01/2025
Day 22 - Levels of Due Diligence
22/01/2025
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