Tag Archives: James Fanto

Dashboard Compliance: What Will Be Its Consequences?

by James Fanto

Technology raises many interesting issues for the growing field of compliance and could even transform the nature of this control position.  The main question to be asked in this post is whether that transformation would make compliance more, or less, effective in accomplishing its mission of ensuring that an organization and its agents comply with laws, regulations and professional and ethical standards.  The argument would go something like this.  As in so many other activities, information technology and data analytics provide tools to compliance officers, particularly, although not exclusively, in their tasks of surveillance and monitoring.  In regulated domains, in fact, regulators use this technology for their own supervision of firms and expect compliance officers to do the same.  This use could result in a model of compliance officers sitting in front of a digital dashboard that enables them to monitor the firm’s activities for compliance.  The question is whether this new model will enhance the efficiency of compliance officers or whether it will distance them from the activities themselves and from the firm’s employees.  Continue reading