Quest CE Announces Branch Audit Tool Enhancements
MILWAUKEE – March 4, 2014 – Quest CE, premier provider of insurance continuing education and FINRA firm element training, announced today three major enhancements to its Branch Audit Management Tool. These new upgrades were created to give auditors more detailed visibility into the risk analysis, trending and resolution tracking process.
To provide auditors with a live snapshot of audit risk exposures, Quest CE upgraded its Branch Audit solution to include an interactive Risk Meter. Quest CE’s Risk Meter automatically calculates a risk percentage based on the number of deficiencies found within an audit. This real-time status update ensures that firms can quickly identify the source of risk and initiate corrective/preventative procedures.
Working in tandem with the tool’s Risk Meter is the Trend Analysis report. Quest CE’s Trend Analysis is a comprehensive management report designed specifically to monitor and track branch and representative audit trends. This feature allows program administrators to calculate, within a desired date range, fluctuations in their branches’/reps’ risk levels. Using this report, firms can gauge negative/positive risk correlations, identify audit trends, and develop a strategy for remediation.
To ensure that all issues discovered during an audit are being properly handled and reported in a timely manner, Quest CE implemented Resolution Tracking. Quest CE’s Resolution Tracking guides auditors through the proper channels for documenting and following up on concerns or issues identified during an audit. In addition to the tool’s automated deficiency follow-up report, Quest CE’s Resolution Tracking allows auditors to document the date/time an item was remediated, the source of follow-up (CRM, phone call, email, ect.), as well as upload any correlating documentation required by the firm’s books and records. All Resolution Tracking items are housed within the audit dashboard, where they can easily be tracked, modified or closed upon completion.
At anytime during or after an audit, administrators can use the tool’s Reporting Dashboard to generate and review detailed reports summarizing branch and representative audit findings. Information can be filtered and sorted by a variety of reporting queues to assess potential compliance gaps and maintain a defensible compliance history.
About Quest CE
For over twenty-five years, Quest CE has been the premier provider of Compliance Education to the financial services industry. In addition to offering Providership Administration and insurance continuing education (CE) for professionals holding insurance licenses and professional designations like the CFP, CPA, CLE, CIMA and CLU/ChFC designations, Quest CE also provides a complete spectrum of FINRA compliance training solutions including annually required Firm Element Training for registered representatives, on-demand Annual Compliance Meetings, Annual Compliance Questionnaires, Needs Analysis Surveys, Outside Business Activity Tracking, Gifts and Entertainment Tracking and Political Contributions Tracking.
Serving more than 650 leading insurance carriers, broker-dealers, banks, and other financial institutions, Quest CE is committed to providing advanced custom solutions at cost effective rates, while providing a level of service that greatly surpasses their competitors. Quest CE is the single source solution for organizations seeking training and compliance needs.