Solution Highlight: Traceability of Obligations in Ascent | Ascent

Can you trace your regulatory obligations back to their source? Here we explain how Ascent helps you do exactly that.

Ascent offers targeted regulatory knowledge — in other words, the granular obligations that are relevant for your firm so you know exactly what you need to do to stay in compliance.

READ MORE: What are granular regulatory obligations?

 

As important as it is to have your granular obligations (i.e. the individual actions imposed on your business) in hand, it’s just as important to be able to trace every obligation back to its source. Traceability (or lineage) of your obligations ensures you have complete visibility into the exact rules and regulations your obligations originated from, allowing you to report on your compliance program with confidence.

It all starts with the regulatory texts themselves.

As part of our process, Ascent ingests complete regulatory texts and makes them easy to find, search, and consume — right in Ascent’s Rule Inventory. Having the regulatory texts themselves centralized on Ascent makes it possible to easily trace back where your obligations came from. 

Next, Ascent maps regulations to your firm.

When you get set up on Ascent, you answer a number of questions about your business — for example, what type of financial firm you are, where you operate, and what products or services you offer.

Based on your responses, Ascent automatically identifies which specific rules (or sections of a regulation) contain an obligation that is relevant to your business. You can then review the pertinent sections and confirm they are accurate.

Go to your obligations.

Ascent then generates the specific obligations that your firm needs to comply with. Your obligations are provided in an easy-to-read digital register, each displayed with a breadcrumb trail that shows clearly how the obligation can be traced back to a specific rule or section. Clicking on any parts of the breadcrumb trail will take you straight to that part of the regulatory text housed in Ascent’s Rule Library.

Never a black box.

Not only do regulators expect firms to know their regulatory obligations, they also expect firms to be able to demonstrate clear understanding of how those obligations were derived. 

Ascent..

  • Houses full regulatory texts for simpler, more centralized research
  • Uses AI-driven technology to map granular obligations to your firm
  • Provides a breadcrumb trail with every obligation so you understand exactly where your obligations came from

Interested in learning more? Contact us to request a demo or talk to our Sales team.

 

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