Pittsburgh, PA, Aug. 27, 2013 (GLOBE NEWSWIRE) -- Compliance Assurance Corporation (CAC), a leading provider of compliance solutions for the insurance industry, has announced the addition of Anti-Money Laundering (AML) Training capability to Compliance Idea eXchange, a best practices forum featured in the Comply On Demand Enterprise (CODE)SM platform for compliance management.
AML training is a persistent challenge for compliance professionals. Whether training new employees, maintaining "current" status for existing personnel, or updating policies in accord with changes to AML regulations, compliance departments face significant difficulty in this area. Often, the work related to AML training takes place via email or in conjunction with costly third party providers.
CODE users have developed a way to automate the process related to AML training. Using existing CODE workflow capabilities, insurers are now distributing AML content to all appropriate parties, on a timely basis, while tracking and documenting receipt and completion of tasks. As a result, the AML process has been made simpler and more transparent.
"We're thrilled to see the addition of AML Training Management to Idea eXchange. This capability addresses a challenge that all financial services firms are dealing with - a challenge that isn't going away. Our users have developed a truly innovative approach to managing the problem. Most importantly, they've done so using existing resources, which is critical in today's business environment." said Jerry Shafran, CEO of Compliance Assurance Corporation.
Anti-Money Laundering (AML) Training is now available in Compliance Idea eXchange.
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About Compliance Assurance Corporation
Compliance Assurance Corporation (CAC) delivers workflow-enabled technology solutions that automate and simplify tasks related to regulatory compliance. The firm's flagship Comply on Demand Enterprise (CODE) platform provides the combination of regulatory intelligence and a comprehensive framework for managing regulatory changes across an organization. CODE has been implemented by some of the nation's largest P&C, Life and Health insurance companies. CAC is a division of StoneRiver Risk and Compliance.
For more information on CAC and CODE, visit www.complyfast.com or call 1-877-690-6201.