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Legal & Regulatory Compliance

Fri, 2013-01-11 14:41 -- thedigitalgroup

Organizations world-wide are grappling with changing government laws, policy frameworks & ever-changing needs of compliance, where industry and government regulations keep multiplying. In an effort to stay atop of these obligations, organizations have resorted to a check-the-box, or "letter of the law," approach to compliance. Data retention and risk management procedures mandated by the Sarbanes-Oxley Act ( SOX ), HIPAA , Basel II and regional regulations have all placed unprecedented pressure on IT administrators & Company executives to coordinate enterprise-wide tracking and organization of compliance measures.

Regulatory compliance refers to systems or departments at corporations and public agencies to ensure that personnel are aware of and take steps to comply with relevant laws and regulations.

With an ever growing number of regulatory requirements and compliance procedures, organizations today are faced with an increasing workload to ensure that all operational procedures adhere to the set rulings and regulations. Given the complex regulatory burden imposed upon both executives and IT administrators, the tools provided by GRC software will become increasingly important to meeting the new standards.

GRC (Governance, Risk & Compliance) software enables an organization to pursue a systematic, organized approach to managing GRC-related strategy and implementation. Instead of keeping data in separate "silos," administrators & compliance officers can use a single framework to monitor and enforce rules and procedures.

The Digital Group expert teams have been instrumental in architecting and maintaining such GRC technology platforms to manage financial risk, legal & compliance data needs of the world’s largest banks, financial institutions, law firms, corporations and regulatory agencies. We provide expert technology services to help our client architect electronic platforms that offers banks, institutional lenders, lawyers, accounting firms and other regulated financial services providers a comprehensive solution for meeting their regulatory compliance requirements.