^TCDCompliance SCORE

Compliance SCORE is a Supervisory Controls - Compliance and Risk Assessment Application designed to provide measurable benchmarks in the firms testing and validation process; commonly referred to as the 3012 - 3130 process. The new Compliance SCORE tool will allow firms of all sizes to streamline the testing and verification process saving time and money.

But, Compliance SCORE was designed to do more than simply help you complete your annual 3012 audit requirements. To annually review, test and modify your company’s written supervisory procedures is not something that can simply be done in a few days or weeks. The act of reviewing and modifying your company’s policies and procedures is a process that should be ongoing and continuous. If one of your supervisory procedures or other policies and procedures is not accomplishing what it was intended to do, then that procedure is going unsupervised and the process is probably wasting someone’s time. In addition if you can find out today that something is not working, why would you wait for next year's update of your written supervisory procedures to fix it?

What are some of the areas that Compliance SCORE can make your life simpler?

Managing

Scheduling

Monitoring

Time

Follow-up

Evaluating

Money

Memorializing

Capturing

Resources

Assigning

Organizing

Reviewing

Tracking

Communicating

Cross Referencing

WSP Review

Knowledge Base

Even a simple 3012 review can collect thousands of individual pieces of data. When you look at 1500 or more review questions and for each item you must address:

A) if and where is it addressed in your Written Supervisory Procedure,
B) who is the supervisor assigned to the procedure or rule,
C) when is the procedure reviewed,
D) how is the procedure evidenced,
E) what is the method of testing the supervisory procedure,
F) and how are the records maintained.

This task can be daunting if it is not done continuously and automatically throughout the year.

Many times firms simply don’t have the spare manpower, time, and expertise to accomplish this task timely and meaningfully. After all, you don’t want to simply comply with the rules. If you have to go through this whole process, you want something that will actually improve the functionality and efficiency of your firm while at the same time demonstrating and reinforcing your culture of compliance.