Question 1

1. What does RAaaS mean?

Accepted Answer

RAaaS is the abbreviation of 'Regulatory Audits as a Service'. By combining traditional techniques with behavioural dynamics, RAaaS delivers added insight to help you drive change and improvement giving you digital tools and algorithms to see where the key issues are across your business.

Our unique approach not only takes the stress and uncertainty out of audits, it provides a non-bias, scalable, consistent solution ensuring you always remain aligned to the regulatory and APP requirements and FCA principles.

We like to refer to our internal audits as surveys.
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Question 2

2. How long will the survey take?

Accepted Answer

As the surveys are designed by participant group they are shorter than traditional audits typically taking 15-30 minutes, per user, to complete.
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Question 3

3. Can I change my answer once I have submitted?

Accepted Answer

No, once you have submitted your response you are unable to revisit previous statements.

Question 4

4. What if I am interrupted during my survey?

Accepted Answer

You can pause the survey at any point (save and close), enter your email address and you will be sent a link to re-engage where you left off. You can use this function at any time during the survey and it should also be used if you have any questions or encounter any problems.

Question 5

5. This doesn't feel like a traditional audit

Accepted Answer

Our statement and response style is deliberate, moving away from the traditional question and answer technique. RAaaS is a patented solution (Patent No 20060206287), working in a similar way as Myers Briggs/Thomas PPA (both of which give great insight into personality profiles in 8 mins), using organisational behaviour techniques to do the same at an organisational level against a specific scope.

Results are delivered against a number of consistent numerical scales. This consistent numerical marking allows the audits to be re-run as often as required allowing progress and risk to be continually monitored.

User participation appears as a simple and unbiased set of 'statements and responses' that have been carefully crafted to be relevant to the individual's role and seniority in the organisation.

Question 6

6. What is wrong with traditional auditing methods?

Accepted Answer

Not only are traditional audits expensive and time consuming, they are also too dependent on a variable/inconsistent approach often producing inaccurate results because the scope is too narrow.

No traditional compliance consultancy can match the SPEED and SCALE of RAaaS surveys where they can be done simultaneously (across many users) without loss of quality or consistency with the ‘statement and response’ approach having been carefully crafted to map to many FinTech regulations and mapped to the relevant organisational behaviour algorithims.

Question 7

7. What if there is a statement I don't understand?

Accepted Answer

Please select the most relevant response from the list and use the comments box to further explain.

Question 8

8. There is no proceed button to move to next statement

Accepted Answer

The proceed button only appears when a response has been selected.  Please ensure you select a response and the proceed button will appear.

Question 9

9. Why are you measuring behaviour?

Accepted Answer

The better the behaviour across an organisation the better they perform.

Objective evidence collected throughout the survey is measured using a risk model, called the Maturity Index. High scores indicate a stronger alignment of people’s behaviours towards delivering levels of desired outcomes and compliance, with low scores indicating higher levels of risk where people’s behaviour is not fully aligned or effective. By using the maturity risk index, the report identifies specific areas within the organisation that need attention and improvement. It allows for a targeted and strategic approach to enhance overall performance and stakeholder value.

Question 10

10. Can the audit be taken alone?

Accepted Answer

No, for the  most accurate results from the survey technology the more people across the business who take part the better and there is a minimum number of participants required which differs depending on the type of audit. The APP audit, for example, has to have a minimum of 8 participants (across 8 participant groups) however in smaller organisations 1 person may cover multiple functions so in some instances the same person may do multiple surveys.  The FAB-APP has to have a minimum of 14 participants (across 14 participant groups).

Question 11

11. Am I able to use a recent Compliance audit and not take the Green Swan RAaaS audit?

Accepted Answer

Our innovative audit system evaluates both organisational behaviours and mandatory compliance. Our distinctive process is assessed using a risk maturity index, supported by thousands of data points within a patented model. Leveraging technology adapted from ISO standards (27001 & 19001) for the financial sector, it delivers a numerical evaluation of your organisation.

This methodology has received approval from insurance underwriters to support all APP insurance applications.

Unlike traditional methods, this streamlined process takes just a few minutes for each participant, yet offers extensive insights by measuring behaviours across your entire business.

Frequently asked questions