“Compliance Takes Too Long to Review my Content.”

As web technologies continue to become more accessible and easy to use the volume of content that can be generated increases exponentially. Moreover, as the tools become more sophisticated, the more advisors have the ability to select and change the branding that appears on their website. If you couple these two perspectives and add on the fact that all of this activity is transpiring in a regulated industry you begin to see increasing work loads for compliance officers who need to review content to ensure content is inline with regulatory requirements. Additionally, in certain business models Wealth and Insurance marketing professionals need to ensure that the changes advisors make do not fragment or negatively impact their brand.

It’s no secret that many organizations in regulated industries such as financial services, have challenges keeping up with volume of content reviews coming at them from their advisors. Slower than average review cycles not only directly affects advisor satisfaction with the dealer but also impacts an advisor’s ability to do business and be agile. While there is no silver bullet to this solution, it’s important that your enterprise compliance team have the best possible review tools and business processes to keep review times at a minimum.

If you feel compliance is taking too long to review your content, here are some points to think about before you think about picking up the phone and discussing your wait time with the nearest compliance officer:

• Is your compliance team approving content through email or through an automated tool?
• Is the process used to review your website content a manual process? Are you sending your website link through an email to your compliance team?
• How are you notified that your content has been approved or rejected? Is this information being transmitted to you from a third party tool or directly from the compliance officer?
• Are you constantly struggling with mismatched information such as your designations, licenses or even biography with your compliance and registrations department?
• Does your organization have a service level agreement for content review times?
• Do the tools you are using have the ability to track the average review time?
• Can you identify the individual who is to review your content next? (mostly applicable in a multi person review process)

The fact of the matter is that compliance officers most definitely are not just sitting on their hands staring at your content and reviewing it at a snails pace. Content review times are typically drawn out due to manual business processes, a lack of awareness of the content review process or just a shortfall in terms of the technologies compliance officers are using to perform content reviews. As such, compliance officers have countless hours of reviews to perform beyond what they are currently resourced to do.

We understand these issues and have experience speaking with compliance teams. If you feel your organization could benefit from a conversation with us, let’s start a chat first with you and determine next steps to improving your organization’s content review times.