Patent ID: 8543444

Claim:
A method for assessing compliance risk of regulated institutions, comprising: extracting, by 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 computer 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; 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; identifying, by the computer processing device, a risk rating value to be associated with the client regulated institution based on the assessed risk; and transmitting at least one notification to the client regulated institution, wherein the notification includes activities the client regulated institution is required to perform as prescribed by the set of regulations based on the associated risk rating value.