Method and system for assessing compliance risk of regulated institutions

A method for assessing compliance risk of regulated institutions, comprising:

• extracting, a computer processing device, data on a plurality of regulated institutions from at least one publicly available source;
• storing, in an extracted information database, the extracted data;
• receiving, by the computer processing device, an employee list from a client regulated institution, wherein the employee list includes a plurality of employees and an area of responsibility associated with each employee of the plurality of employees;
• creating, by the processing device, a client questionnaire based on the data stored in the extracted information database, wherein the client questionnaire includes questions associated with at least one of a plurality of role categories, each role category of the plurality of role categories corresponding to an area of responsibility;
• distributing the client questionnaire to each employee of the plurality of employees, wherein each employee receives questions associated with a role category corresponding to the area of responsibility associated with the employee;
• receiving, by the computer processing device, answers to the questions distributed in the client questionnaire;
• storing, in a client questionnaire database, the received answers;
• identifying, in the extracted information database, data corresponding to the client regulated institution;
• storing, in the client questionnaire database, the identified data corresponding to the client regulated institution;
• and
• assessing, by the processing device, the risk that the client regulated institution will not be compliant with a set of regulations based on the answers and data stored in the client questionnaire database.

A system for assessing compliance risk of a regulated institution, comprising:

• a client questionnaire database;
• a computer processing device configured to extract data on a plurality of regulated institutions from at least one publicly available source,
• wherein the computer processing device is further configured to receive an employee list from a client regulated institution, wherein the employee list includes a plurality of employees and an area of responsibility associated with each employee of the plurality of employees;
• and wherein
• computer processing device further configured to
• identify, from the extracted data, data corresponding to a client regulated institution,
• store, in the client questionnaire database, the identified data corresponding to the client financial institution, and
• generate a client questionnaire, wherein the client questionnaire includes questions associated with at least one of a plurality of role categories, each role category of the plurality of role categories corresponding to an area of responsibility;
• and,
• the computer processing device configured to distribute through a network the client questionnaire to each employee of the plurality of employees, wherein each employee receives questions associated with a role category that corresponds to the area of responsibility associated with the employee, wherein
• the computer processing device is further configured to receive answers to the questions distributed in the client questionnaire, and
• the computer processing device is further configured to
• store the received answers in the client questionnaire database, and
• assess the risk that the client regulated institution will not be compliant with a set of regulations based on the answers and data in the client questionnaire database.