Why did ESR go with the ComplyWith tool?
ESR was already considering ComplyWith when I joined the company. I’d previously implemented a paper-based compliance programme in a major New Zealand bank and could immediately see the value in ComplyWith’s technology.
We needed a tool that would enable managers to understand and report on their obligations efficiently, as our staff are really busy. Also, we needed a tool that was easy to access and had a reporting functionality.
How was the implementation?
Firstly, to have people from ComplyWith with a bit of a science background gave the tool credibility and helped with getting buy-in from the staff.
It was also useful that time was taken to promote the ‘enabling’ value of the tool and process to our staff.
How does ComplyWith help ESR?
I don’t think the Board and its Audit and Risk Committee would be without it now. It gives assurance and they trust the process.
I think the process is valuable because it gives people in the business another voice for issues or risks that are worrying them. This helps empower them, and gives the business the visibility it needs in order to manage the risks.