ZEDRA adopts Clausematch’s policy management platform to streamline compliance

By Edlyn Cardoza

ZEDRA, an international provider of corporate and global expansion, active wealth, Pensions & Incentives and Fund solutions, today announces its partnership with Clausematch, a technology company developing solutions for regulatory compliance. The company is adopting Clausematch’s policy management platform to streamline compliance across multiple jurisdictions.

“After completing the sandboxing and the testing of Clausematch’s solution, we understood that user experience is what’s key to all of this,” said Stuart Esslemont, Global Head of Compliance at ZEDRA. “The formatting of policies and the audit trail on Clausematch are really helpful. The way the platform works avoids a fragmented approach to naming, tagging, structuring and formatting compliance documents.”

ZEDRA has acknowledged the volatile and rapidly evolving environment (regulatory, political, social, criminal) that the industry is facing. Over the past couple of years, one of the most significant changes in the personal finance space has been the accelerated digitisation of risk and compliance functions. The company has invested significantly in digitalisation and the right tools to react quickly to any changes. Clausematch is one of them. Its technology offers an important multijurisdictional dimension when dealing with policies and procedures, ensuring they are easy to find across the entire group and with jurisdictional variations that are easily accessible.

There are around 2,000 internal compliance documents, i.e., policies, procedures, standards, and controls, in place that ZEDRA is working with and a uniform system to manage compliance documentation and to shore up any inefficiencies.

“ZEDRA had policies and procedures that differ at group-level and jurisdictions. With the use of Clausematch, the firm created standardised templates that will guide document owners to create documents with the same look-and-feel and content structure,” said Ace Huang, Project Manager at Clausematch.

Another area that unifies the process is reporting – for example, where exact information of particular policies and procedures were last reviewed when they are next for review, who is the document owner, and which category a document falls into (compliance, HR etc.). Clausematch provides a single platform with solutions to those challenges, standardisation, management, and document structure.

Theresa Powrie, Compliance Manager at ZEDRA, added: “Being able to see where a policy sits works well. You don’t need multiple versions of a document sitting outside the system and remembering to replace them. On Clausematch, we can actually just edit a document and an automated audit trail will be maintained.”

Clausematch’s Solution Consultant, Pedro Fernandes, said, “With dynamic chart reports, ZEDRA will also be able to identify documents that are due for review or are simply overdue.”