Banking and Financial Institutions
The Challenge:
Meet Federal regulations, such as the Gramm Leach Bliley Act (GLBA),
that require financial institutions to protect the confidentiality of
their electronic data transmissions. Ultimately, the boards of directors
and officers of financial institutions are liable if the electronic
transactions are not kept confidential. Financial Institutions face
the daunting challenge of creating policies and procedures to protect
information - often with internal resources whose time and knowledge
are limited, then distributing the policies and procedures to its employees,
and tracking their understanding understanding of the policies.
How can these organizations avoid stiff legal penalties and comply with
GLBA regulations that require them to:
- Implement a comprehensive security plan.
- Make sure that all employees understand the security measures to protect
customer information.
- Report to the board of directors and other regulators regarding compliance.
- Keep audit trails and tracking employees' acceptance of policies.
The Solution:
DynamicPolicy helps to identify and close the gap
between compliance requirements and their existing policies giving financial institutions
the capability to:
- Create a distributed communications environment to publish and manage
their policies, at the same time meeting regulatory standards of consistency
and broad distribution of information to audiences that include consumers,
investors, regulatory bodies, and internal stakeholders.
- Develop policies and procedures using templates that comply with
federal requirements, and that are based on international best practices.
- Foster digital workplaces for both internal and external teams to
develop content.
- Deliver targeted policies to specific audiences.
- Report regularly on employees' acknowledgment and understanding
of policies.
- Provide a timely and effective communication channel between management
and employees.
- Apply security and manage access rights to all types of compliance
content through a Web-based single-point-of-access that reaches across
the organization as well as to external parties - auditors and legal
counsel, among others.
We invite you to learn how your company can save time and resources during the process of managing your policies and procedures.
Request a demonstration today!
