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MyComplianceOffice Reviews & Product Details

MyComplianceOffice Overview

What is MyComplianceOffice?

With over 1M users globally, MCO has built a long-term compliance platform that fits the needs of financial services firms of all sizes, delivering: • A single integrated solution that checks for conflicts across systems • Centralized data for ease-of-access, consistency and unparalleled risk control • An easy-to-use interface to increase employee efficiency and adherence • A scalable modular approach to meet the unique needs of every firm With 1500 clients in over 105 countries and employees around the world, MCO delivers affordable, easy to-use compliance management technology that helps highly regulated firms better monitor, identify and remedy conflicts of interest and compliance issues. The MyComplianceOffice Compliance Management Platform contains four comprehensive compliance solutions which manage complex and burdensome processes and provide transparency into a company's potential conflicts of interest and conduct-related activities. Know Your Obligations (KYO) provides easy to use compliance oversight with the ability to deconstruct regulations, frameworks, policies and controls into visual maps that clearly communicate the obligations that require oversight and enables them to track the changes as they are made to the obligations. Know Your Employee (KYE) provides compliance teams with an easy and affordable way to monitor, manage and ensure that employee policies are followed. Intuitive interfaces enable employees to fulfil their compliance obligations with a minimum of effort. Know Your Transaction (KYT) helps the Control Room and Compliance Team mitigate risk that can originate from breaches in market manipulation, insider trading, suitability, conflicts of interest, fund mandate and investment banking activities. Know Your Third Parties (KYTP) makes it easy to oversee due diligence activities associated with third party relationships including vendors, customers, counterparties, agents and partners.

MyComplianceOffice Details
Product Website
Languages Supported
English, French, Japanese, Dutch, Chinese (Simplified)
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Product Description

MyComplianceOffice is a powerful software solution that automates compliance program activities and demonstrates an organization’s culture of compliance.


Seller Details
Company Website
Year Founded
2008
HQ Location
New York, NY
Twitter
@mycompliance
1,112 Twitter followers
LinkedIn® Page
www.linkedin.com
268 employees on LinkedIn®
Description

A complete compliance management software platform that helps financial services firms unify their activities across conduct and regulatory compliance.


Lisa D.
LD
Overview Provided by:
VP Global Marketing at MyComplianceOffice

Recent MyComplianceOffice Reviews

Verified User
A
Verified UserMid-Market (51-1000 emp.)
4.0 out of 5
"A workable compliance solution"
I really liked that we had amazing support during the transition from MCT/SCT to MCO that allowed us to perform user acceptance testing prior to ro...
Verified User
A
Verified UserMid-Market (51-1000 emp.)
3.5 out of 5
"I am a compliance associate with 6 years of regulatory compliance experience."
The client services team is often very quick to acknowledge questions and provide feedback.
David C.
DC
David C.Mid-Market (51-1000 emp.)
3.5 out of 5
"A good program in a marathon, not a sprint."
There are many features, some add-on a la carte, that allow admins to customize the platform to their needs. Direct feeds, OCR for statements, and...
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2 people requested security information

MyComplianceOffice Media

MyComplianceOffice Demo - Know Your Obligations - Compliance Management Software
Financial Services firms are operating in an environment of evolving regulatory requirements, and risk significant penalties and reputational damage if their compliance program fails to keep pace. Firms need solid governance and oversight of compliance obligations to assure the ongoing monitoring...
MyComplianceOffice Demo - Know Your Employee - Personal Trading Compliance
The manual process of reviewing employee personal trades can be unnecessarily expensive, time-consuming and frustrating for both employees and compliance teams. Personal Trading Manager (PTM) from MCO saves Compliance teams time and effort by enabling electronic capture of electronic trades a...
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51 MyComplianceOffice Reviews

4.2 out of 5
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51 MyComplianceOffice Reviews
4.2 out of 5
51 MyComplianceOffice Reviews
4.2 out of 5

MyComplianceOffice Pros and Cons

How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Cons

Overall Review Sentiment for MyComplianceOfficeQuestion

Time to Implement
<1 day
>12 months
Return on Investment
<6 months
48+ months
Ease of Setup
0 (Difficult)
10 (Easy)
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G2 reviews are authentic and verified.
David C.
DC
Compliance Officer
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about MyComplianceOffice?

There are many features, some add-on a la carte, that allow admins to customize the platform to their needs. Direct feeds, OCR for statements, and monitoring technologies (i.e. third party political contributions) all help make compliance oversight easier and streamlined. Review collected by and hosted on G2.com.

What do you dislike about MyComplianceOffice?

The conversion from our old system was a catastrophic mess. Best to leave everything behind and build from stratch. Review collected by and hosted on G2.com.

What problems is MyComplianceOffice solving and how is that benefiting you?

We predominately use MCO for employee trade monitoring as well as a platform for reviewing marketing items. Review collected by and hosted on G2.com.

Verified User in Financial Services
AF
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about MyComplianceOffice?

I really liked that we had amazing support during the transition from MCT/SCT to MCO that allowed us to perform user acceptance testing prior to rolling MCO out to our employees. I appreciate that we always receive prompt responses when we reach out to support. The UX is friendly, especially for our more challenged employees. Review collected by and hosted on G2.com.

What do you dislike about MyComplianceOffice?

I wish some things were more customizable out of the box. Review collected by and hosted on G2.com.

What problems is MyComplianceOffice solving and how is that benefiting you?

The ease of use is helping us mitigate the amount of time we need to spend with employees walking them through things. Review collected by and hosted on G2.com.

Verified User in Investment Management
AI
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about MyComplianceOffice?

The client services team is often very quick to acknowledge questions and provide feedback. Review collected by and hosted on G2.com.

What do you dislike about MyComplianceOffice?

Although the team is quick to provide feedback, the feedback is not always relevant to the specific case. I have had numerous situations where the feedback was not plausible, which made me seek other outside support. Review collected by and hosted on G2.com.

What problems is MyComplianceOffice solving and how is that benefiting you?

I am not currently in communications with MCO regarding an issue. However, I like the functionality that MCO is consistenly always updating their systems to allow for better ease of usage. Review collected by and hosted on G2.com.

LC
Administrative Assistant
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about MyComplianceOffice?

Support is always very helpful and responsive. Especially with transition to new portal. Review collected by and hosted on G2.com.

What do you dislike about MyComplianceOffice?

Was little tricky to figure out new portal. Review collected by and hosted on G2.com.

What problems is MyComplianceOffice solving and how is that benefiting you?

Creating quarterly questionnaires/affirmations. Review collected by and hosted on G2.com.

JS
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about MyComplianceOffice?

The support team at MCO is attentive and helpful when working through issues we encounter and experience in administrating MCO. Due to system constraints, they are willing to try and find workaround solutions to resolve the immediate issue. Review collected by and hosted on G2.com.

What do you dislike about MyComplianceOffice?

The limitations and constraints of the system itself. It has a very clunky design which may have served it's purpose initially however there are a number of complexities and workflows which appear to make the overall difficult to use and implement from a user perspective. Whether this was the intention when designing the system, the current system design requires heavy administrative support from the end user which could be avoided.

In terms of design, there are a number of limitations in the system design which can be amended or configured to meet certain user needs, some of which includes system messaging. It would be beneficial where system messaging is unable to be amended for the notifications and labels to be consistent throughout MCO. Review collected by and hosted on G2.com.

What problems is MyComplianceOffice solving and how is that benefiting you?

We are currently working with MCO to reconfigure a number of our existing BAU functions to reduce the administration effort on our side. However, from the presentations provided by MCO the holdings project which is due for scoping this year will hopefully provide the biggest impact for us as an end user. However, this will ultimately depend on how they plan to re-configure the holdings calculations to resolve the underlying issues. If the holdings project isn't able to cater to our needs then there would be minimal to no improvement on the issues we are currently facing as a large percentage of our time is spent manually correcting employees holdings.

Additionally, we have been working with MCO to try and obtain holdings reports for compliance reviews however due to system limitations 1 of the reports is required to be provided by MCO directly. If the reporting functionality could be enhanced this would be beneficial to both MCO and users. Review collected by and hosted on G2.com.

JP
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
(Original )Information
What do you like best about MyComplianceOffice?

When I stepped into the CCO role, the system used for compliance was not user-friendly. After researching, we found that MCO best met our employee disclosure needs. The system was very easy for staff to use and allows me to monitor trades and required disclosures and create tasks for employees. Review collected by and hosted on G2.com.

What do you dislike about MyComplianceOffice?

The only thing I would like to see changed is that when creating tasks for employees, I do not have the ability to schedule reoccurring tasks where the reoccurrence is more than a year apart, just as license renewals. Review collected by and hosted on G2.com.

What problems is MyComplianceOffice solving and how is that benefiting you?

It gives an all-in-one software for me to monitor compliance requirements. We just completed our first SEC audit and using MCO made it easy to provide the information requested. Review collected by and hosted on G2.com.

NG
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about MyComplianceOffice?

MCO is an easy to use - for both users and administrators - tool that runs reliably and has been serving us well for almost 10 years now. It is a straightforward, no nonsense tool that does what it should and if there are any issues, the service desk is very responsive and helpful. It is webbased so can be accessed anytime anywhere as administrator and offers an App which is highly apreciated by the users. 5 star rating from us! Review collected by and hosted on G2.com.

What do you dislike about MyComplianceOffice?

There isn't honestly anything I dislike about the system, it works really well for us in the way that we use it. Maybe for larger offices the downside is that it is not easily individually configurable as I understand it, but as haven't had to do this anyway it wasn't an issue for us. Review collected by and hosted on G2.com.

What problems is MyComplianceOffice solving and how is that benefiting you?

We mainly use MCO for managing pre-clearance and post-trade reporting of employees et al. concerning our restricted stocks. Further, it helps us with our Quarterly Employee Trade reviews and our Annual Compliance Confirmations. Review collected by and hosted on G2.com.

Verified User in Financial Services
AF
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
(Original )Information
What do you like best about MyComplianceOffice?

User friendly yet multi-functional for effective maintenance of different aspects of compliance and internal controls. Review collected by and hosted on G2.com.

What do you dislike about MyComplianceOffice?

Migration to new user interface has been sporadic and confusing for sections that are not fully functional yet. Review collected by and hosted on G2.com.

What problems is MyComplianceOffice solving and how is that benefiting you?

System helps to maintain and organise personal dealing accounts/holdings records. Firmwide distribution of initial, quarterly and annual policy attestations for new and existing employees. Review collected by and hosted on G2.com.

Response from Nayara Barbosa of MyComplianceOffice

The transition from the old to the new interface has been a significant change, and we apologize for any inconvenience you are experiencing during this process. The move to the new interface has been much more time consuming than we originally planned, but we are making progress with each release. The end goal is to have all of the same functionality that was available in the old user interface plus additional features and functions via the newer technology. We apologize that this has taken so long, but we are working hard to get it done as quickly as possible. Thank you for your feedback.

ML
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about MyComplianceOffice?

MyComplianceOffice is a one-stop portal for all of our compliance needs. It has been instrumental in streamlining our compliance processes in-house, and we have found great value in it! Review collected by and hosted on G2.com.

What do you dislike about MyComplianceOffice?

I have not yet experienced any real dislikes with MCO. It would be helpful if some of the questionnaires/forms allowed deeper formatting changes. It would also be helpful if some of the assignments stemming from tasks get approval/denial buttons. Review collected by and hosted on G2.com.

What problems is MyComplianceOffice solving and how is that benefiting you?

Our firm signed on with MCO primarily for electronic data feeds. Our employees and registered representatives have many brokerage accounts, so we were receiving an enormous amount of mail/paper. The thought of there being a way to have the brokerage data come in electronically was very enticing. The electronic data feeds have streamlined our brokerage process from adding accounts/reviewing accounts to terminating accounts. We have saved paper and time! Review collected by and hosted on G2.com.

HC
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best about MyComplianceOffice?

It is very user friendly and easy to use Review collected by and hosted on G2.com.

What do you dislike about MyComplianceOffice?

The fact that the company has to pay extra once the allocated time initially given has elapsed. Review collected by and hosted on G2.com.

What problems is MyComplianceOffice solving and how is that benefiting you?

I believe soon the old MCO will be removed which would make it easier to just focus on one section of the software Review collected by and hosted on G2.com.

Response from Nayara Barbosa of MyComplianceOffice

Hi Hazel, thank you for your review and feedback! We're glad to hear that you like the user interface and find it easy to use. We are not sure that we understand your comment on the dislike section of the review. We would be happy to assist in this matter. If interested, please contact MCO Customer Support. Thank you.