Governor Press Releases

 

 

Governor Software Releases Version 2018.4

DUBLIN, September 26th, 2018 - Governor Software Ltd, today announced it has released the latest version of its governance and oversight platform Governor 2018.4, which now incorporates enterprise workflow enhancements to support clients who wish to implement multi-stage workflows within the application.

 

The new workflow integration means Governor Software’s clients can not only create more powerful and flexible workflows - which include the gathering of evidence for fully auditable governance and oversight - but also support the management of risk oversight, including cyber risk which continues to emerge as a significant threat to the financial system.

 

“As our clients continue to roll out the Governor Software platform to support governance and oversight within their organisations we are keen to provide a robust and fully auditable environment across a diverse range of business cases and regulations,” explained Richard Pike, Founder and CEO, Governor Software.

 

“A very large US banking client is especially keen to utilise a multi-stage workflow for signoff and approval of their compliance with the new NYDFS cyber regulation. We developed this new functionality with them in mind and it is now available to all current and future clients.

 

The Governor Software platform supports senior risk and compliance executives at financial institutions in maintaining governance and oversight through clear visualisation of their regulatory obligations and risk appetite. Key benefits of the Governor Software platform include:

 

  • Line of sight risk visualization between the obligations or objectives and the related policies, controls, KIs and documents
  • Clarity around the organisational ownership and status of each of the obligations in the organization and more coordination across the 3 Lines of Defence
  • The ability to drill through to the root cause of problem areas and create actions and link them to emerging issues for remediation and assign them for accountability
  • A powerful workflow that ensures collaboration across business areas
  • Custom views across the organization for both reporting purposes and to ensure users are seeing content that is most relevant to their role
  • Reduction of manual governance processes and a consequent reduction in the cost of compliance
  • History and audit trails to evidence why certain decisions or actions were taken

 

 

  • ENDS –

 

About Governor Software

With offices in Dublin, London and New York, Governor Software Ltd supports senior risk

and compliance executives at financial institutions maintain governance and oversight

through clear visualisation of their regulatory obligations and risk appetite.

 

Founded in 2015 by CEO Richard Pike, the Governor Software team have first-hand

experience of the production and oversight of governance information within financial

institutions. Empowered with this unique knowledge, Governor Software have taken a

fresh approach to addressing these challenges; using visualisation technology to efficiently

tackle the issues associated with governance and oversight in their entirety.

 

Governor Software believe the opportunity for compliance and risk professionals to make

governance and oversight a more robust and effective process is significant.

 

For more information visit: http://governorsoftware.com

Governor Software Version 2018.2 Released

Governor Software Version 2018.2 Released

 

DUBLIN, JUNE 8th, 2018 - Governor Software Ltd, today announced it has released the latest version of its oversight platform Governor 2018.2 which has been designed to better support large institutions with multiple hierarchies and systems.

 

The Governor Software platform supports senior risk and compliance executives at financial institutions maintain governance and oversight through clear visualisation of their regulatory obligations and risk appetite.

 

Enhancements to the platform include an improved security model incorporating support for LDAP/Active Directory integration, enriched dimension management with provision for unlimited hierarchies (e.g. organisational units, locations, products), and advanced integration and document management capabilities.


“The pressure on financial institutions to maintain regulatory governance and oversight is growing and the Governor 2018.2 release reflects this,” explained Richard Pike, Founder and CEO, Governor Software. “Our clients are increasingly seeking to roll out Governor Software more broadly across their organisations – incorporating large oversight projects across multiple business cases and regulations.”

 

Key benefits of the Governor Software platform include:

  • Line of sight risk visualization between the obligations or objectives and the related policies, controls, KIs and documents
  • Clarity around the organisational ownership and status of each of the obligations in the organization and more coordination across the 3 Lines of Defence
  • The ability to drill through to the root cause of problem areas and create actions and link them to emerging issues for remediation and assign them for accountability
  • A powerful workflow that ensures collaboration across business areas
  • Custom views across the organization for both reporting purposes and to ensure users are seeing content that is most relevant to their role
  • Reduction of manual governance processes and a consequent reduction in the cost of compliance
  • History and audit trails to evidence why certain decisions or actions were taken

 

- ENDS -

 

About Governor Software

 

With offices in Dublin, London and New York, Governor Software Ltd supports senior risk and compliance executives at financial institutions maintain governance and oversight through clear visualisation of their regulatory obligations and risk appetite.

 

Founded in 2015 by CEO Richard Pike, the Governor Software team have first-hand experience of the production and oversight of governance information within financial institutions. Empowered with this unique knowledge, Governor Software have taken a fresh approach to addressing these challenges; using visualisation technology to efficiently tackle the issues associated with governance and oversight in their entirety.

 

Governor Software believe the opportunity for compliance and risk professionals to make governance and oversight a more robust and effective process is significant.

For more information visit: http://governorsoftware.com

Governor Software Integrates FCA Handbook, March 7, 2018

Licence allows clients to automatically link internal policies and controls to FCA Handbook

DUBLIN, March 7, 2018 - Governor Software Ltd today announced it has obtained a licence from the FCA which will allow its clients to automatically link internal policies and controls to the Financial Conduct Authority (FCA) Handbook.

 

The Handbook sets out the FCA legislative and other provisions for financial institutions that are seeking information on financial conduct rules and guidance. Updated regularly, Chief Compliance Officers and their teams are tasked with ensuring that their firm remains compliant with the latest Financial Services regulations.

 

By licensing the FCA Handbook Governor Software will not only empower its clients with clear visualisation of their regulatory obligations within its platform, but importantly link directly between the handbook and a financial institutions internal policies and controls.  This linkage not only supports new versions of the handbook automatically being updated in client systems – allowing them to easily incorporate changes into their policies - but also clear, real-time proof of compliance in a structured and efficient manner that is fully auditable.

 

Richard Pike, Founder and CEO, Governor Software, commented: “Keeping abreast of the FCA Handbook is no mean feat for financial institutions, with requirements differing between organisations and updates frequent. While other companies publish this handbook within their software we believe we are the first to take the structure and enable clients to link their policies directly to it. This not only saves considerable man-hours, automatically alerting appropriate team members when their policies need updating or reviewing, but also provides comprehensive oversight and compliance through auditable mapping.”

 

“When a regulator walks through your door they think and assess financial institutions in terms of the FCA Handbook, this update basically allows our clients to present their data in the way the regulator thinks,” added Pike.

 

Last month the FCA announced that it is seeking views on how technology can make it easier for firms to meet their regulatory reporting requirements and improve the quality of the information they provide. This follows its successful TechSprint in November 2017, which Governor Software participated in, and saw contributors successfully develop a ‘proof of concept’ which could make regulatory reporting requirements machine-readable and executable. This straight-through processing of regulatory returns demonstrated benefit to both firms and regulators in regards to accuracy of submissions, cost reduction and changes to regulatory requirements being implemented more quickly.

 

Pike concluded: “Identifying, digesting and responding to regulatory requirements are a minefield for the vast majority of financial institutions. This event further highlighted the growing need to address those challenges and gave us the opportunity to demonstrate the part Governor Software can play making risk and compliance programmes accessible, consumable and actionable for senior leaders within large enterprise organisations.”

 

- ENDS -

 

About Governor Software

 

With offices in Dublin, London and New York, Governor Software Ltd supports senior risk and compliance executives at financial institutions maintain governance and oversight through clear visualisation of their regulatory obligations and risk appetite.

 

Founded in 2015 by CEO Richard Pike, the Governor Software team have first-hand experience of the production and oversight of governance information within financial institutions. Empowered with this unique knowledge, Governor Software have taken a fresh approach to addressing these challenges; using visualisation technology to efficiently tackle the issues associated with governance and oversight in their entirety.

 

Governor Software believe the opportunity for compliance and risk professionals to make governance and oversight a more robust and effective process is significant.

For more information visit: http://governorsoftware.com

 

 



 

Governor Software Successfully Completes Industry TechSprint, December 2017

 DUBLIN, DECEMBER, 2017 - Governor Software Ltd has successfully completed the FCA and BoE convened TechSprint. The event, convened by the FCA and BoE, was designed to tackle the increasing challenges that financial institutions face in implementing their regulatory and compliance obligations - specifically exploring the potential for model-driven machine readable regulation.

 

Maria Phillips, Head of Implementation & Support, Governor Software, commented: “This was an excellent opportunity to not only collaborate with the FCA and BoE but also our industry peers. Over two weeks we utilised the Governor Software proposition to digitise a solution for a mock regulatory update released by the FCA.”

 

Alongside a mixture of start-ups, incumbent institutions, technology providers and academics the Governor Software team developed a ground breaking frictionless process which automatically linked a piece of regulation, compliance procedures and firms' policies and standards with firms' transactional applications and databases.

 

Phillips continued: “Through participating in the TechSprint we were able to verify and apply governance for digitally-enabled regulation and more significantly provide transparent system access to meet the SYSC requirements of the FCA Handbook and PRA Rulebook. This development really could fundamentally change how financial institutions understand, interpret and report regulatory information.”

 

Governor Software provides its clients with the ability to deconstruct regulations, frameworks and policies into visual maps that clearly communicate the obligations that require oversight and then to be able to track the changes as they are made to the obligations. Key Indicators and assessment points provide the first line of defence in order to record compliance and areas of concern. In addition, the solution presents the status of individual and overall compliance in the structure of the original regulation, framework or policy. All of this is completed in a structured and auditable process so that review and audit becomes a lot more efficient.

 

-ENDS-

 

About Governor Software Ltd

Headquartered in Dublin, Ireland, Governor Software Ltd supports senior executives at financial institutions with regulatory oversight through clear visualisation of their internal and external regulatory obligations, understanding of organisational status and real-time proof of compliance. For more information please visit www.governorsoftware.com.  

 

Governor Software Participating in FCA and BoE Convened TechSprint, November 2017

DUBLIN, NOVEMBER 20, 2017 - Governor Software Ltd, today announced it is participating in the latest FCA and BoE convened TechSprint that will look to address the increasing challenges that financial institutions face in implementing their regulatory and compliance obligations.

 

The two week TechSprint will commence on the 20th November and will specifically explore the potential for model-driven machine readable regulation. The aim of the event is to bring start-ups, incumbent institutions, technology providers and academics together to discuss and design technological solutions to the challenges financial institutions face implementing their regulatory reporting obligations.

 

Richard Pike, Founder and CEO, Governor Software, commented: “We are delighted to be participating in this FCA and BoE convened TechSprint. Identifying, digesting and responding to regulatory requirements are a minefield for the vast majority of financial institutions. This event is designed to address those challenges and gives us the opportunity to demonstrate the part Governor Software can play making risk and compliance programmes accessible, consumable and actionable for senior leaders within large enterprise organisations.”

 

Governor Software provides its clients with the ability to deconstruct regulations, frameworks and policies into visual maps that clearly communicate the obligations that require oversight and then to be able to track the changes as they are made to the obligations. Key Indicators and assessment points provide the first line of defence in order to record compliance and areas of concern. In addition, the solution presents the status of individual and overall compliance in the structure of the original regulation, framework or policy. All of this is completed in a structured and auditable process so that review and audit becomes a lot more efficient.

 

-ENDS-

About Governor Software Ltd

Headquartered in Dublin, Ireland, Governor Software Ltd supports senior executives at financial institutions with regulatory oversight through clear visualisation of their internal and external regulatory obligations, understanding of organisational status and real-time proof of compliance. For more information please visit www.governorsoftware.com.  

 

Governor awarded GRC20/20 Innovation in User Experience for Risk/Strategy Management, October 2017

2017 GRC Experience Award

A key goal of firms is to develop a mature approach to Governance, Risk and Compliance (GRC) that measures and understands risk in the context of clear objectives and strategy.

 

GRC 20/20 Research recently researched, evaluated, and reviewed organisations that are using Governor Software in complex, distributed, and dynamic business environments.

 

In the context of researching Governor Software, GRC 20/20 found that organizations often take a Band-Aid approach and manage risk in disconnected silos instead of thinking of the bigger picture. Siloed processes, though effective in their own silos, are ineffective at an aggregate level, as the organization does not have a complete view of GRC in the context of the business.

 

In the context of researching Governor Software, GRC 20/20 found the solution enables organisations to understand, map, and monitor the complex interrelationship of risks, objectives, regulations, and metrics across an organisation. Governor Software addresses this by aggregating, integrating, and visualizing risk and performance information across an organisation within a single platform, allowing it to be managed from one central location and ultimately ensuring accountability.

 

The benefit of Governor’s information architecture is that it allows for flexibility in reporting and provides real-time feedback in the form of dashboards and notifications tailored for management. In summary Governor Software enables an organisation to manage risk and performance by:

 

  • Mapping risk, obligations, objectives, and roles - enabling organisations to visually deconstruct and map objects such as risks and regulations to visualise and show complex interrelationships.

  • Monitoring context - allowing organisations to monitor these relationships and alert when something occurs that might have a cascading impact of risk and exposure.

  • Tracking accountability - enabling an organisation to communicate and track accountability and ensure compliance and control across its business.

For more information and to download the report in full please click below

GRC20/20 review

Governor Software Partner with Neo4j, September 2017

Proven enterprise graph platform Neo4j to support Governor clients with regulatory oversight

 

DUBLIN, SEPTEMBER 21, 2017 - Governor Software Ltd, today announced its partnership with Neo4j, the #1 Graph Platform. The partnership will see Neo4j provide its proven enterprise graph database to Governor’s regulatory oversight proposition which supports financial institutions communicate obligations, understand risk status and prove compliance. 

 

Governor Software was founded on the principle of making risk and compliance programmes accessible, consumable and actionable for senior leaders within large enterprise organisations.

 

“Complex and unstructured data based on a firm’s risk appetite needs to be connected and presented in context in order for senior leaders to make informed decisions,” commented Richard Pike, Founder and CEO, Governor Software. “We are delighted to partner with Neo4j, an innovative leader in native graph databases, as we strive to provide an agile, scalable and secure environment to our clients.”

 

As a native graph database, Neo4j is specifically optimized to store and traverse multiple graphs of connected data. By intuitively mapping data points and the connections between them, Neo4j powers intelligent, real-time applications that tackle enterprise challenges in today’s big data environment.

 

“Neo4j enables organizations to unlock the business value of connections in data: through new applications that can adapt to changing business needs, and by enabling existing applications to scale with the business,” added Rik Van Bruggen, VP of Sales – Northern Europe, Neo4j. “We are excited to be partnering with Governor Software as it will expand our presence in the financial services sector with a compelling risk and compliance use case.”

 

-ENDS-

About Governor Software Ltd

Headquartered in Dublin, Ireland, Governor Software Ltd supports senior executives at financial institutions with regulatory oversight through clear visualisation of their internal and external regulatory obligations, understanding of organisational status and real-time proof of compliance. For more information please visit www.governorsoftware.com.  

 

About Neo Technology

Neo4j is an internet-scale, native graph database that leverages connected data to help companies build intelligent applications that meet today's evolving challenges including machine learning and artificial intelligence, fraud detection, real-time recommendations and master data. As the #1 platform for connected data, Neo4j has over three million downloads, the world's largest graph developer community, and thousands of graph-powered applications in production.

 

The world's most sophisticated organizations worldwide, from enterprises like Walmart, eBay, UBS, Cisco, HP, adidas and Lufthansa to hot startups like Medium, Musimap and Glowbl, use Neo4j to harness the connections in their data.

 

Headquartered in San Mateo, California, Neo4j also has regional offices in Sweden, Germany and the UK. For more information, please visit Neo4j.com and @Neo4j.