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Compliance program assessment tool

一种合规性、项目的技术，应用在仪器、数据处理应用、商业等方向

Inactive Publication Date: 2009-03-25
BANK OF AMERICA CORP
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Problems solved by technology

These efforts must be funded and must be adequately monitored and tracked at all times

Method used

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Examples

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Embodiment Construction

[0013] The invention may be better understood by reference to the specific examples set forth herein. Some of these embodiments are performed in the context of a large enterprise utilizing a corporate intranet to perform compliance program assessment functions; however, these embodiments are exemplary only. The present invention is suitable for any type of compliance program assessment activity within any type of organization.

[0014] The terms "enterprise" or "organization" are generally used to refer to an entity, such as a company or a corporation, that employs the invention. Entities can be large or small. A "line of business (LOB)" generally refers to a department within a business or organization. A "compliance role" in this application means an agency-defined function that requires the completion of one or more compliance program assessment roles, such as a compliance officer, auditor, or other function. Typically, roles are submitted by individuals or teams of indi...

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Abstract

This invention provides a compliance assessment system and tool for efficiently assessing compliance programs and managing compliance program assessments across an organization. Compliance activities are measured against a group of Compliance Program Element Requirements (CPR's) that are used to assess LOB compliance programs. The CPR's define the minimum standards for the LOB s documentation and execution of its compliance program. Assessment results are documented and a compliance program assessment data sheet is developed. A rating is also provided for the status of the documentation supporting the compliance program and the effectiveness of the execution of the compliance program. From these inputs the tool of the invention automatically calculates a score representative of the adequacy and effectiveness of the compliance program. The tool also assigns a color code based at least in part on the score. Reports may be generated that can be used to determine compliance trends.

Description

technical field [0001] Many agencies are required to comply with various rules, policies, regulations and guidelines, whether established internally by the governing entity or as a result of legislation (hereinafter referred to as "rules"). Because of some rules, agencies have the responsibility to oversee consistent compliance or adherence to rules, so there is an increasing need to manage the complex process of compliance programs across the entire enterprise organization. Additionally, different lines of business (LOBs) within an organization have different compliance policies and processes. For large and geographically dispersed organizations, these requirements create significant challenges and drain resources. Background technique [0002] To ensure that an organization's LOB compliance program is adequate and effective, an organization is required to perform a compliance program assessment. These assessments evaluate the documentation adequacy and execution efficien...

Claims

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Application Information

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Patent Type & Authority Applications(China)
IPC IPC(8): G06Q10/00G06Q30/00G06F9/44G06F11/34G06F17/30G06F17/50G07G1/00
CPCG06Q10/06
Inventor K·莱格特J·G·阿克曼小B·E·艾伦A·W·萨波尔D·J·麦金纳尼J·D·托马斯
Owner BANK OF AMERICA CORP
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