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Compliance Have you met the person who says, “I just love compliance, it’s what I trained for”? Is it the area you have most concern about when the Auditors come calling? The answers are “no” and “yes” but few firms tackle it head on. So, the answer is to address the issue and take away the headaches and frustration encountered by staff with this essential task. This can be achieved by: Automated ID verification Automation of Terms of Business documents Electronic signatures But and it is a big BUT, you still must check the documents are received and that the Fee Earner signs off to confirm KYC – Know Your Client. This is normally a manual process for the Legal Assistant to constantly monitor the Matters looking out for the information and then prompting the Fee Earner to sign off. Few Firms use the power of their Practice Management System and get it to provide real time prompts to the Legal Assistant to alert them to non-returns, prompt the Fee Earner when the documents are received and provide an easy method for sign off. In addition to this, work is often undertaken without completion of the Compliance stage, and this causes a headache for the Compliance Officer who must monitor and chase. The solution to this is to implement a process that makes the procedure quick, simple, and consistent. This is achieved by: Using integrated ID verification, even if it means you do it in face-to-face situations Having a “single” Terms of Business that pulls departmental sections based on Matter type Use Electronic signatures where possible and where not allow the Legal Assistant to “replicate” the updates to the system Providing real time reports with links to the Matter that allow the Legal Assistant to trigger an automated reminder to the client Providing real time reports with links to the Matter that allow the Fee Earner to verify the documents once received, and thus allow work to be continued Provide a feature for Heads of Department to sign off where an override is approved Provide real time reports for the Compliance Officer to: Monitor adherence to the process Do random spot checks Review overrides Benefits Staff do not see Compliance as a chore Compliance Officers have confidence processes are followed Auditors see a well-managed Firm Insurance renewals are “cleaner”

Compliance

Have you met the person who says, “I just love compliance, it’s what I trained for”?

Is it the area you have most concern about when the Auditors come calling?

The answers are “no” and “yes” but few firms tackle it head on. So, the answer is to address the issue and take away the headaches and frustration encountered by staff with this essential task.

This can be achieved by:

Automated ID verification
Automation of Terms of Business documents
Electronic signatures

But and it is a big BUT, you still must check the documents are received and that the Fee Earner signs off to confirm KYC – Know Your Client. This is normally a manual process for the Legal Assistant to constantly monitor the Matters looking out for the information and then prompting the Fee Earner to sign off.

Few Firms use the power of their Practice Management System and get it to provide real time prompts to the Legal Assistant to alert them to non-returns, prompt the Fee Earner when the documents are received and provide an easy method for sign off.

In addition to this, work is often undertaken without completion of the Compliance stage, and this causes a headache for the Compliance Officer who must monitor and chase.

The solution to this is to implement a process that makes the procedure quick, simple, and consistent. This is achieved by:

Using integrated ID verification, even if it means you do it in face-to-face situations
Having a “single” Terms of Business that pulls departmental sections based on Matter type
Use Electronic signatures where possible and where not allow the Legal Assistant to “replicate” the updates to the system
Providing real time reports with links to the Matter that allow the Legal Assistant to trigger an automated reminder to the client
Providing real time reports with links to the Matter that allow the Fee Earner to verify the documents once received, and thus allow work to be continued
Provide a feature for Heads of Department to sign off where an override is approved
Provide real time reports for the Compliance Officer to:
1. Monitor adherence to the process
2. Do random spot checks
3. Review overrides

Benefits

Staff do not see Compliance as a chore
Compliance Officers have confidence processes are followed
Auditors see a well-managed Firm
Insurance renewals are “cleaner”