Domestic abuse can take many different forms and is not always easy to spot – in fact, even the person on the receiving end themselves may not recognise it for what it is. There can be many reasons why people experiencing domestic abuse are reluctant to speak up or seek help, from fears around their personal safety to concerns about being judged by their friends and family, employer or colleagues.
With many people working from home for a protracted period during the Covid pandemic, instances of domestic abuse have increased dramatically and had a devastating impact both on employees’ physical and mental health and on their performance at work. Being able to spot where domestic abuse may be occurring and taking appropriate action to protect and support their staff is therefore a crucial aspect of employers’ duty of care.
Using conditional descriptions to offer translations
Multi-national businesses regularly send forms to suppliers, clients, staff and contractors across the globe. The challenge is ensuring that each end user is seeing the form that is most relevant to their role, jurisdiction and, of course, their native language. Most businesses have tried to tackle this by either sending a list of forms for them to choose from or preparing multiple forms and sending the one most relevant to each user. But there is a better way. With Omnitrack’s versatile conditional logic, you can easily build each language into the form.
How to use conditional descriptions for translations
Step 1: Add a drop-down question
Click “Add question”
Select “Drop down”
Create a “Select your language” drop down
We recommend setting a default value. If most of your end users’ language is English, make English your default value.
It is fairly easy for firms involved in the financial markets to get caught up in illegal market abuse practices without even realising it. The temptation is great for staff members to trade on insider information or exploit the firm’s resources to try to manipulate the market. In many cases, the lines between what is acceptable and not are grey and unclear.
VinciWorks’ new course Fraud & Market Abuse – Fundamental concepts trains staff on the concepts and rules of market abuse and fraud. It focuses on the Market Abuse Regulation 2016 (MAR), a European directive that establishes a common regulatory framework on insider dealing, market manipulation and measures to prevent market abuse across the EU. This course goes through the different types of permitted and forbidden behaviours to clarify what can and can’t be done, and under what circumstances.
Course features:
Customisable training with the option to include or remove topics for different audiences
Interactive learning built-in throughout the course, with the ability for the administrators to track responses in order to gain insights into users’ grasp of the topics
Includes essential definitions and concepts as well as an overview of relevant laws and regulations
Includes review questions
Eye-catching design and an easy-to-use experience
Smooth, user-friendly scroll design
Learning outcomes:
Understand UK market abuse laws and regulations
Gain familiarity with the dangers of insider information
Clarify important concepts regarding the working of financial markets
Law firms are required to conduct risk assessments, client due diligence (CDD) and ongoing monitoring on their clients. The precise processes for CDD and risk assessments are often complex and vary greatly, depending on industry and jurisdiction.
What is the problem?
The Fourth Money Laundering Directive, which came into force in 2017, introduced a heavy emphasis on employing a risk-based approach to money laundering. This puts a certain degree of the onus of identifying and prioritising risks on law firms. Firms often struggle with systemising risk scoring and ensuring high-risk clients are automatically flagged based on their scores. Being able to define your firm’s own scoring system will help ensure firm-wide consistency and that nothing falls through the cracks.
How do we solve it?
In our latest update to the anti-money laundering onboarding solution, we’ve added a new function which allows users to create dynamic scoring fields in their forms, enabling them to add/multiply/divide/subtract the value of two or more fields. For example, you can now add scoring to the risk assessment section of your client’s onboarding form. A risk score can then be automatically calculated for each risk area. Lawyers can assess their prospective client’s risk level, with the MLRO or Compliance Officer being able to easily review risk scores, and update the scores should they deem it necessary. Note, our AML onboarding clients receive a bespoke system that will come built with the risk scoring feature already enabled.
Omnitrack, our reporting and tracking solution, is continuously being updated and improved to bring the best experience to our end-users. In our latest update, we’ve added a new field type which allows users to create dynamic scoring fields in their forms, enabling them to add/multiply/divide/subtract the value of two or more fields. For example, you could create a risk assessment form that asks a series of risk-related questions and generates a score based on a user’s responses.
How to calculate risk scores with Omnitrack
Step 1: Add a scoring field
Add a scoring field to your form by:
Clicking “Edit form”
Click “Add question”
Scroll down to the complex field section and select “Scoring field”.
Neurodiversity is an umbrella term used to refer to the variation in the human brain with regards to social interaction, learning, attention, mood and other brain functions, and can cover a range of conditions. Recent studies suggest that 1 in 10 people in the UK are neurodivergent, meaning that organisations that fail to meet the needs of their neurodivergent staff, customers and service users are neglecting a significant demographic.
With ‘diversity of thought’ now recognised as being key to innovation and creative problem-solving, employers who are able to attract and support neurodivergent employees can tap into a uniquely skilled talent pool who quite literally ‘think differently’. Skill Boosters’ neurodiversity course examines the nature of neurodiversity, the challenges neurodivergent people face and how organisations can support neurodivergent staff, customers and service users.
Part of VinciWorks’ SRA Compliance Suite: record and track all undertakings in one location
The VinciWorks’ SRA Compliance Suite is hosted in Omnitrack, a powerful yet flexible data collection and reporting tool. Established use cases in the SRA Compliance suite include a Regulatory Breaches Register, a Conflicts Register, a File Review process and more. The SRA suite also includes the Undertakings Register, a centralised tool to record, review and track all solicitor undertakings, ensuring staff receive reminders to fulfil all obligations which have yet to be discharged.
Before we take a closer look at the Omnitrack Undertaking Register, this blog will recap the definition of solicitors’ undertakings and look at some of the consequences of failing to complete them.
Climate change represents one of the greatest threats humanity has ever faced, and we need everyone on board to fight it.
VinciWorks’ new course on climate change will provide a working knowledge and understanding of the mechanics of climate change. The short course gives users an understanding of how human actions are causing climate change and what you and your organisation can do about it. Users will learn how carbon emissions and other factors affect the environment, what will happen if we don’t take collective action, and what we can do to slow the process on an individual, community and organisational basis.
Topics covered
What is climate change?
The science behind climate change
What will life be like if we don’t take action?
Causes of climate change
Things you can do to help
Course features
Smooth, user-friendly scroll design
Customisable training on a wide variety of topics with the option to include or remove topics for different audiences
Interactive learning built-in throughout the course, with the ability for the administrators to track responses in order to gain insights into users’ grasp of the topics
Eye-catching design and an easy to use experience
To learn more about the course, contact us via the short form below.
We are excited to announce that Compliance Office, the leading SRA consultancy firm, has been acquired by Marlowe plc and will continue to grow in partnership with VinciWorks. Founded by Andy Donovan, a former SRA legal policy advisor, Compliance Office’s team of consultants draw on years of experience and a proprietary set of tools and templates to help law firms with all of their compliance needs. The merger will enable VinciWorks to broaden its services from compliance training and software into consultancy services as well.
What does this mean for VinciWorks customers?
The addition of a consultancy arm will accelerate the development of VinciWorks’ AML client onboarding solution. It will enable VinciWorks to provide an end-to-end anti-money laundering package that includes a CDD client onboarding tool, AML training and compliance consulting into a single solution.
Without embracing some level of risk, companies actually put themselves at greater risk of failure.
Risk-taking is key to any company’s success. A recent survey found that companies that understood and embraced the risks of the COVID-19 crisis early on fared much better than those that refused to acknowledge the new reality and continued with their pre-COVID plans. Differences in how they perceived risk had dramatic effects on how they coped with change.
For many companies, taking risks is synonymous with innovating and responding to change. Without embracing some level of risk, companies actually put themselves at greater risk of failure. The challenge is understanding which risks are worth taking, and how to mitigate those which are unavoidable.
This is why it’s so important to have a risk management system in place. Risk management is the process of identifying, assessing and controlling threats to a business. Potential risks facing a company could include, for example, security breaches, internal problems with employees or operating systems, market or regulatory changes, natural disasters, and much more. A good risk management system will consider a wide variety of possible scenarios and prioritise the ones most likely to actually happen. It will also take into account a holistic vision of the company and its goals. Then, it can devise strategies to avoid or minimise the potential risks.
VinciWorks’ new Introduction to Risk Management course explores some of the basic tools that most risk managers use, including designing a risk matrix and composing a risk register. These will help you understand the types of considerations that they use to make decisions and to ensure that a business is prepared for future scenarios.
