Training and competence specialist HRComply enhances online competence tool

HRComply, the T&C (training and competence) software supplier to the wealth management, investment banking and insurance industries, today announces the launch of a new software module that helps FCA regulated firms to monitor their T&C risk. 

Developed in partnership with the wealth management arm of one of the world’s leading banks, the new R-A-G (red, amber, green) benchmarking module puts the compliance and supervisory teams in real-time control of their HR, T&C and conduct-related risks. The module allows the user to identify T&C risks and shortfalls, set remedial actions and track progress. It also allows the user to set, manage and monitor CPD (continuing professional development) programmes.

The module is an addition to HRComplySoft, an established and unique online software tool that consolidates all T&C, CPD, conduct, performance management, controls and records in one location.

Commenting on the new module, Neil Herbert, Director, said: “The FCA is demanding a completely new approach to staff compliance issues, in fact a whole new culture. Compliance is now a major element of operational due diligence and the FCA has made it clear that it will relentlessly enforce this new HR regime. HRComplySoft utilises technology to ensure that this regime is achieved in a cost effective manner. It is the only platform that brings the end-to-end T&C, performance assessment and CPD compliance processes together in one holistic environment. The benefits are clear – reduced risk and a decrease in manual processing of HR records.”