The AffirmX solution is designed to provide bench strength to your compliance officer or compliance department. You still need someone to ensure that the requirements of new and existing regulations are implemented in a timely manner and to satisfy requirements under BSA, OFAC etc. for a designated compliance officer.
You still need to ensure that staff members are trained on any new or changing regulatory requirements and that new products and services are in compliance with regulatory requirements.
The AffirmX Compliance Solution is not designed to replace your existing compliance officer, but rather to make him or her more effective by performing the very time consuming task of ensuring that day-to-day operations are conducted in compliance with regulatory requirements. This allows you to be proactive in your compliance role rather than reactive to findings of your examiner or auditor.
In addition to our cloud-based on-going compliance review, we provide timely and informative compliance reference tools, such as our online compliance manual and periodic regulatory updates when new federal regulations are issued or changes are made to existing federal regulations.