Compliance Project
Brief
Every day there are approximately 20 different compliance reports that the business needs to send to regulators and 3rd parties that are critical. These reports are sent through 2 separate methods, email and through a proprietary software. Failure to deliver these reports by their due time can result in very high fines issued by regulators.
Problems
This created the following problems for the company
Compliance report failures missed by employees resulting in fines
Significant time delay from compliance report generation and sending failure being noticed by employees.
No easy way to see which reports have been sent, their respective automation times and due times
Solution
A PowerBI dashboard was created that draws information from a dedicated inbox and the proprietary software that shows the reports, their status, their expected send time and lists any automation failures or rejection notices. It also sent notifications when a report failed to generate or was rejected by a 3rd party or regulator.
Result
Reduction in non-compliance events, meaning fewer fines
Faster response times on automation failures and file rejections
A reduction in resources being spent on a daily basis coming through files to determine if something had been sent or not.