Testing is an integral part of any compliance function. Robust testing helps compliance officers sleep better at night, knowing that their performance is consistent, correct, and on time. The problem is that current compliance testing practices are painful. The work is often entirely manual, creating workpapers is tedious, and establishing an audit trail is time-consuming. Hummingbird is here to help!
Today, testing functions work like this - compliance personnel:
1. Define the scope of testing every year. This includes:
- Identifying the entities to be reviewed,
- Identifying applicable regulatory updates or other change events,
- Specifying controls to be checked by risk area,
- Determining required sample sizes, and then
- Setting the review schedule.
2. Realize that the work is going to take about 3X more time than your staff can reasonably handle.
3. Freak out.
4. Hire an expensive consultant to help.
In a matter of hours, Hummingbird can implement an entire customized workflow for your testing team.
We have spent the past three years building a world-class flexible case management and investigation platform that is being used by some of the world’s largest financial companies in multiple jurisdictions around the world.
With Hummingbird you can:
- Create custom test questionnaires for your entire team in a single environment in a couple of days
- Replace the need for emails to coordinate across your organization with in-app messaging
- Gather all of your supporting documents automatically or by dragging and dropping
- Magically create your workpapers and full audit trail as your team works
- See real-time analytics on all of your testing findings and your team’s productivity in beautiful dashboards (We are pretty sure we are the only compliance software company in the world with a head of design from Apple, so we take pride in our dashboards!)
- Give your regulators access to all of your testing results without needing to copy thousands of spreadsheets to a flash drive or print out 32 binders.
- Sleep well at night, knowing that your team is firing on all cylinders and is ahead of schedule for the first time in the history of compliance tests.
If you would like to learn more about how you can 10X the productivity of your testing team while making the quality of the work even better drop us a line at email@example.com.