For a compliance officer, finding the right software to manage the compliance program is tough.  The initial ask is to find an affordable system that can automate manual processes, allow collaboration and oversight between compliance staff and supervised persons, record compliance testing and monitor results, send reminders when deadlines are looming, and preserve the integrity of your records by incorporating an audit trail.  The system should be easy to use, administer and customize.

Current “software as a service” offerings provide affordable, customizable programs that can be used by all types of registered investment advisers, including private equity and hedge fund managers, retail advisers and institutional asset managers.

Read my top ten considerations in selecting a compliance program management system here.