The SRA requires firms to record all incidents and report regulatory breaches. Many firms collect reports via online surveys, and lengthy Word, PDF and Excel forms. Entries are then stored in Excel spreadsheets, making it difficult to keep track of such reports, ensure correct courses of action are taken, update incidents and breaches and ensure they are either resolved or escalated. Spreadsheets are limited by their two-dimensional nature, lack of automation tools and lack of security.
VinciWorks' incidents and breaches portal allows firms to track all incidents, breaches, losses and complaints. Compliance teams can record details as events unfold and associate an unlimited number of breaches to each incident. Breaches and incidents that require immediate attention can be flagged, allowing compliance teams to easily follow up reports.
Administrators can either build forms themselves or use our best-practice customisable built-in forms. High risk submissions are then automatically flagged.
Track who has completed the form and easily identify any risks. Automatic email reminders can be set for those who do not complete the survey.
Review flagged entries via the dashboard and take appropriate action.
Submissions can be segmented by administrators and all entries and reports can easily be exported.