Technology | Wiz Compass

Wiz® Compass

Wiz® Compass, powered by the proven technology of CCH® Sword and the regulatory intelligence of Wolters Kluwer Financial Services, is an enterprise risk management tool for financial institutions. Its modular components measure, monitor and manage compliance and operational risk.

This unique tool combines regulatory intelligence with efficient policy, procedure and process management for transparency and control. It empowers compliance risk management professionals to make smart decisions with confidence in a rapidly changing environment. With it, you can;

• Implement effective policies, procedures and risk limits
• Conduct testing to monitor compliance and measure risk
• Quantify capital-centered risks
• Evaluate and track risks across sectors, product lines, and locations
• Provide transparency into risk to senior management and board members
• Develop comprehensive internal controls

Compliance Risk Management – Use the Compliance Risk Module of Wiz Compass to focus on the countless number of compliance regulations covered in each of the regulatory agency compliance examinations, including: lending regulations, deposit regulations, privacy regulations, and AML/BSA regulations. Click here to read more.

Operational Risk Management – Use the Operational Risk Module of Wiz Compass to quantify, measure, and where necessary, remedy risk of loss in business operations. Evaluate and measure adequacy and effectiveness of processes, management practices, efficacy of strategic risks and effectiveness of capital management. Specific risk-related measurements can be tracked, quantified and reported on to monitor risks related to products, policies and procedures. Click here to read more.

Control Risk with the Right Partner 

Avoiding risk and managing compliance obligations requires prevention, monitoring, measuring, flexibility and the right partner. We offer proven compliance expertise and risk avoidance strategies that come from over 15 years of successful partnerships with customers and regulators alike. We understand the intricacies of internal operational structures, the demands of regulatory oversight, and the importance of measuring risk factors unique to the financial services industry. Our expertise and technology tools take advantage of industry-wide best practices in compliance and operational risk management and can be leveraged throughout the product development cycle and regulatory compliance management process to help financial institutions implement effective internal controls, remain compliant with regulatory requirements, and avoid risk.