Delegation Monitoring by ComplianceWise: safe time, stress and money.
the Corona crisis shows us one clear thing: this is the moment to embrace solutions that really help you to work smarter, more efficient and more cost-effective. With Delegation Monitoring in perspective: for most IFMs delegation monitoring is a manual process, very much dependent on individual employees. With the inherent risk of inconsistencies in the process and the quality of reporting.
Using the highly digitalized and automated Delegation Monitoring by ComplianceWise helps you become future fit. It saves you a lot of time. It reduces the risk of non-compliance costs massively, you are complete and demonstrably CSSF-compliant, and moreover: it offers the opportunity to gain valuable business insights to take better management decisions and to support strategic planning. Put it high on your agenda.
The first overall Risk Assessment specifically designed for delegation control arrangement on the Luxembourg Fund Market.
Assess initial risk score for specific Delegate. Enhance your risk assessment over time to include every performed monitoring action into overall risk score. And know for sure that everything you need to know is documented and presentable to both internal and external stakeholders. And yes - even to the CSSF!
Insert potential delegate to application.
And store company details of delegates where you need them.
Perform an initial Due Diligence of a service provider on the point for each delegated function.
Without annoying paperwork.
Know your risks before allowing Delegates to service your managed funds..
Review the initial Due Diligence and accept Delegate to perform individual function, include management to acceptance workflow. With Delegation Monitoring by ComplianceWise you not only reduce time and resources, and thus money, but also the risk of huge non-compliance costs.
All relations to Delegates at hand and under control.
Visualize your fund structure with all relevant relations to individual Delegates. And: trigger ongoing monitoring duties per Delegate. Smart!
The reassuring feeling of Risk-based ongoing monitoring.
You have to monitor your delegate actively. With Delegation Monitoring by ComplianceWise you can! Individual monitoring actions, function-specific and with task notifications. And the good thing is: the system advises you what monitoring actions to perform, based on the assessed risks. You can be sure to be compliant to the CSSF requirements.
All your actions and results demonstrably recorded for the supervisor. Enjoy the customizable Dashboard. The one-click Reports ánd Machine learning!.
The dashboard gives you the opportunity to customize the overview of all relevant information. For example for reporting purposes. Reporting is done in just one-click. And: machine learning enables you to forecast on resource allocation, while being compliant any time.
Be a frontrunner: Go for a professional impression towards the Luxembourg fund market and its participants..
With a digital application to perform your Delegation Monitoring tasks, it leaves a much better impression towards the service providers/market participants compared to sending crappy excel or word files. Your company will be seen as professional forerunner.