Case Management Software for Financial Regulators
Combine Central Access with a Custom Fit
Regulating securities and financial institutions is complex at every step. What’s needed is a single system to manage all phases of the financial oversight lifecycle, with interfaces to national databases, online access for the public and mobile support for examiners and other field workers.
Three Applications in One
STAR Financial is a commercial off the shelf (COTS) product designed specifically for state agencies that regulate the financial services industry. With a single database that integrates all three areas of financial oversight – licensing/registration, examination and enforcement – information entered once can be accessed by all authorized users. The extensible platform enables system administrators to continuously configure business rules, workflows and data elements to reflect the ever-changing laws and regulations of a specific agency or division. The result is three applications on a unified platform.
- Registration – Handles the chartering, registration and licensing of financial entities and securities, including fee and renewal tracking
- Examination – Facilitates the auditing and examination process, including identifying, scheduling, recording results, calculating risk ratings, tracking problem entities, and billing
- Enforcement - Manages the full lifecycle of enforcement activities, including complaints, investigations, actions, and dispositions
Connect Your World
Leverage shared interfaces to key databases and a shared web portal for online transactions and communication
Interfaces to national databases simplify information sharing and analysis while reducing duplicate data entry.
STAR Financial makes it easy for agencies to connect with consumers and businesses online. Web copy can be created and formatted within the system, and reports and other documents can be exported to HTML for quick publication online.
Configurable to Support Your Agency’s Needs
The mutual funds registration process in one state differs from the credit union chartering process within the same state agency, and these same processes may be handled quite differently in another state. What’s more, the laws and regulations governing these processes are constantly changing.
STAR Financial is designed to be easily adapted to each agency’s environment, no matter how complex and dynamic the business rules and processes involved.
Shared Components Across Applications
Routine tasks and functions common to all three applications are best managed by shared components, which come tailored to the needs of state financial regulators. Beyond that, templates, workflow, interfaces and other features within each component can be precisely configured for each regulatory phase managed by a specific division or agency. Examples include:
- Financial management - Invoices are generated based on fees automatically compiled for charters, licenses, and renewal. They can also be generated to bill for time and expenses based on examination hours and work assigned to a complaint. Revenue sources, volume and collection rates can be tracked at the activity and divisional levels.
- Document management – Subpoenas, documents, correspondence, hearings, interviews, exams, complaints and more can be created within or scanned into the system, where they can be archived, tracked and retrieved. Check in and out version control prevents conflicts.
- Correspondence and reports – Integration with Microsoft Word and SAP Crystal Reports, along with templates for frequently generated documents, reduce the burden of routine communications.
- Security – System administrators can easily configure users, roles, and default security contexts to define and limit privileges within specified environments. Documents on the Web portal can be made publicly available or restricted by secure user logins.
For specialized processes, prescriptive workflows can be configured to guide the user through each step and ensure all pertinent information is linked for easy retrieval. For example, the filings wizard is designed to streamline consistent processing of securities and financial institution filings during the registration phase. Once initiated, filings and applications are linked to contacts, entities, addresses, examinations, complaints, investigations, pending actions, assignments, and supporting documents in the central database used by all three phases.
Explore the solution associated with this product:
From initial application to registration, examination and enforcement, MicroPact’s Financial Regulatory Compliance software solution consolidates and streamlines oversight capabilities in the promotion of a fair and sound financial marketplace.
Take control of Financial Regulatory Compliance. Contact Us about STAR Financial.
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