FFIEC News

Polivec Launches Industry’s First Policy-Driven Governance, Risk and Compliance (GRC) Platform

(May 15, 2007)-- Polivec announced the release of Polivec Enterprise Governance Solution 5.0, industry’s first policy-driven Governance, Risk and Compliance (GRC) platform. The Polivec solution drives the alignment of policies, processes, people, and technology to enable companies to actively manage compliance efficiently throughout their enterprises.

Polivec Enterprise Governance Solution (EGS) 5.0 allows organizations to:

* Continually assess and report on progress in adhering to external regulatory and legal requirements as well as to internal corporate policies and directives
* Tightly integrate the creation and control of all business policies, making governance and compliance documents actionable and subject to efficient review and management
* Communicate policies and requirements to employees, partners, outsourcers and other third parties, making them aware and accountable for their roles in compliance
* Track and manage manual activities that affect compliance
* Incorporate information from IT systems into the regulatory compliance context

Polivec clients save time and money as they reassert control of the process of complying with the vast, ever-increasing body of government regulations and industry standards. Such regulations can be an extraordinary burden for companies that take an uncoordinated, narrowly focused approach to risk and compliance management.

Polivec EGS 5.0 centers on the user’s policy set and consists of four modules, each of which addresses a specific aspect of governance. The modules may be implemented individually or together as a total governance, risk, and compliance solution.

• The Policy Center, repository for all regulatory documents, policies, best practices, and procedures, features a unique mapping engine that connects policies with regulations. This enables users to quickly identify areas of non-compliance as well as areas where regulatory requirements overlap. All four modules utilize the repository, which provides a unified view of all activities.
• The Awareness Manager automates the distribution of policies, records employee acceptance and attestation, and measures comprehension through regular testing.
• The Technology Manager connects EGS to existing information technology systems, enabling users to make decisions and take action quickly.
• The Activity Manager creates, monitors, and audits individual employee tasks required to achieve and maintain compliance.

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