Banking Industry Compliance with SOX

Why SOX compliance is important for Banks

• Acts as a guide for effective financial and data controls.
• Promotes sustainable corporate governance.
• Helps prevent data breach issues.

SOX penalties that Banks must avoid

• Monetary fines.
• Loss of reputation.
• Discontinuation of business operations.

How this compliance template can help with SOX compliance

This SOX, internal control framework has been explicitly designed for Banks to create a sound internal compliance management culture in the organization. The framework lists all the specific compliance requirements and tasks a Bank must comply with to maintain its compliance with SOX requirements.

How VComply can help in SOX compliance

• Set compliance programs across all departments and branches.
• Create the SOX specific compliance framework and manage compliance workflow.
• Automate compliance task assignment and management across the compliance team.
• Central repository for all your SOX compliance documents.
• Automate SOX audits and manage the recurring audit process.