A key proactive supervisory function for regulators is to perform supervisory onsite inspections in order to investigate particular issues and to obtain a comprehensive assessment of the risk profile of their regulated entities.
SQL Power’s Onsite Inspection solution offers supervisory teams a web-based solution to automate and manage every aspect of their regulatory onsite inspection processes and functions. From choosing proportionate inspection activities relative to the associated risk profile of the inspected entity, to inspection lead assignment, to team selection, to notifications, to pre-inspection reports, to scheduling internal reviews and kick-off meetings, to developing a more in-depth understanding of the supervised financial institutions, to anticipating future impacts from past and present figures to making recommendations, imposing limitations/conditions and other remedial activities when corrective measures need to take place.
All these recommendations, limitations and conditions are monitored by the offsite inspection team, through the 360-degree Organizational profile, and limitations are either lifted due to compliance or further sanctions, penalties, restrictions are imposed on the entity for ongoing non-compliance.
Achieve your team's inspection goals while fully controlling the breadth and depth of your onsite inspections
With increasing standards in compliance and risk management, and with people and resource barriers causing strain on such supervisory processes, there is significant pressure for financial supervisory authorities to plan and execute various regulatory processes required for ongoing supervision. A key proactive supervisory function for regulators is to perform supervisory onsite inspections in order to obtain a comprehensive assessment and risk profile of their regulated entities.
What You'll Get With SQL Power's Onsite Inspection Module
Manage Inspection Teams
Create your inspection team and appoint a team lead to manage the inspection. Assign inspection tasks and schedule review meetings with team members and with the inspected entity.
Collect Pre-Inspection Forms
Collect pre-inspection reports and associated attachments such as business plans, organization charts, risk and governance procedures, audited financial statements, and more.
Setup Remote Meetings
Setup remote Kick-off meetings, walk through the recommendations and findings, and conclude the investigation - all from the safety of your own home.
Request Additional Information
After submission, the analyst can request additional information related to the inspection as a notification within the web portal.
Review all submissions in one place via a secure web portal.
Generate Final Inspection Report
Generate final inspection reports with findings and recommendations. Circulate final inspection reports for final reviews and acknowledgments.
Communicate notifications, findings, and infraction notices. Track and organize all findings.
Monitor Supervised Entities
Access all information including inspection history, senior staff, shareholders, related organizations, communications, and payment history. Information is automatically updated from submissions from the entity organization – a 360-degree view profile for each of your regulated entities.
Customize Process Workflows
Automate routing of work with an inspection workflow designed based on international best practices. This workflow can additionally be tailored to mirror your current inspection processes.
How it Works
Through SQL Power’s Designer facility, we are able to provide pre-built onsite inspection process templates, designed based on international guidelines and best practices. Alternatively, we also have the capability to simply and quickly define a business process workflow to mirror your current forms and processes including the creation and management of an inspection team, task management, user assignment, due date assignment, ad-hoc task creation, and much more.
Power Forms provides an easy-to-use, web-based front end (Power EAS) for business users to input, upload, and submit any and all information required by the regulator; allowing users to verify the validity and completeness of their submission.
The CARAMEL dashboard, powered by MicroStrategy
Financial regulators need a structured way to manage risk to maintain confidence, legitimacy, and credibility with stakeholders in the institutional structure of financial regulation and supervision. SQL Power offers a pre-built risk management solution that provides supervisors critical risk assessment tools to empower them with better decision making and to address risk in a systematic manner.
The risk management framework provides financial regulators with fully integrated business intelligence tools, dashboards (CARAMEL), an onsite inspection module, and predictive modeling to derive a risk rating for each organization.
SQL Power’s Onsite Inspection module is designed to easily integrate with existing core CRM and governance systems, leveraging existing data and technology investment for seamless integration. Our solution can be configured to easily evolve with global onsite inspection standards and guidelines thus future-proofing your organization. Finally, our experienced team of engineers will work within your business scale to ensure that our implementation is smooth and functionally sound.
Why Choose SQL Power's Onsite Inspection Solution
Our Onsite Inspection solution will provide your organization with the following functionality out of the box:
Powerful and comprehensive risk assessment tools including early-warning analytics that identify vulnerabilities, allow for recovery actions and resolutions, and easily integrate with existing infrastructure.
A robust, risk-based supervision solution that provides comprehensive and flexible risk assessment ratings that can easily evolved based on changing standards.
Pre-built risk management solution that includes a world-class Onsite Inspection module allowing regulators to schedule pre-inspection forms, set up remote meetings, share recommendations and findings, and issue final inspection reports.
Quick implementation, we'll get you started in as little as 30 days!
360-Degree Organizational View, access, and view all information pertaining to your regulated entities at a glance.
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