Recent banking regulations (e.g. Basel II framework) have prompted banking institutions to organize and enhance their internal control systems.
This optimization includes organizational changes that create a formal distinction between periodic and permanent control responsibilities. From an organizational point of view, this leads to the creation of new departments and new functions, including that of compliance manager.
Compliance with these new banking laws is both a strategic and a legal issue. A company's ability to effectively manage controls ensures financial transparency and greater risk management.
In this context, IT tools are essential for handling the large volumes of controls that must be monitored and administered.