Automating and Simplifying Financial Investment Compliance To Meet Regulatory Mandates

The Customer offers fully automated all-in-one compliance platform for the global investments industry. They serve clients in automated compliance solutions that enable regulatory protection, reduced risks, and brings down the operating costs.

Their clients include:

  • Retail and institutional BDs
  • Broker-dealers
  • Money managers
  • Mutual funds
  • Hedge funds,
  • Fund of funds
  • Regulators
  • Private equity
  • Public companies

They aim to deliver thorough, unparalleled expertise in risk and compliance experiences to their customers.

Reading ‘the signs’

  • We wish we could plan how to improve our compliance processes, save time and money…
  • We really need to upgrade compliance process efficiencies with a configurable platform
  • We need a holistic data visibility that can lower the risk of non-compliance

Dire need to improve compliance processes

Regulatory agencies such as SEC and FINRA have set clear directives for financial institutions to make sure a culture of compliance for trading activities prevails throughout the organizations. Their motto is to implement a rigorous approach to monitoring and surveillance of trading activities that generates relevant alerts and enables smart investigation and analysis.

The customer evaluated compliance preparedness of their legacy system and determined few challenges that hindered their continuous improvement initiatives. Manual processes: One of the most important challenges for the CCO of each company was to manually produce reports required to be submitted to the regulatory agencies at the end of each certification cycle for audit. Other compliance personnel who used the legacy system relied on manual processing to track, approve and deny trade requests.

Scalability: The amount of transactional data increased to an extent of 1.7 million transactions/holdings being reported per day. The legacy system took more than 12 hours to process single batch of transactions resulting in delayed data analysis and poor user experience.

Solution Highlights

  • Centralized corporate-wide dashboard providing a common framework to manage all compliance related workflows
  • Automated data flows
  • Advanced reporting system
  • Dynamic and intuitive User Interface

360 degree view of financial crime and non-compliance

As the customer’s technology advisor, MediaAgility re-engineered and re-platformed the solution, which is now a robust and easy-to-use compliance management system, with high scalability and intuitive User Interface.

MediaAgility mapped the customer’s business requirements with the optimized solution to efficiently manage all compliance requirements at reduced costs.

The solution provides a platform to perform in-depth risk data analysis, that has resulted in lowered risks of non-compliance. It provides a complete end-to-end financial crime and compliance management that drives a holistic data processing model and highly intuitive dashboard and reporting functionality.

The solution framework facilitates a corporate-wide 360 degree view of crime and non-compliance related financial trading activities. This allows senior management to diagnose and mitigate any non-compliance activities or risks.

The entire digital transformation resulted not only in a technology face lift but also revamped the compliance workflows and reporting, which included –

Processing raw input files and loading a huge amount of holdings and transactions related data into the database within just 2-3 hours. The processing efficiently worked on complex compliance rules within different modules of the application such as benchmarking of raw and derived data against guideline rules, complex calculations and classifications,  and categorization to generate violations.

MediaAgility established a concrete approach to monitoring holdings and transactions and surveillance of other trading activities that generate functional data, meaningful alerts, enables smart analysis, and streamlines reporting of significant data to the Compliance Admins, Compliance Managers, Compliance Group Admins, and Compliance Group Managers among other users.

Smart Workflows: The delivered solution provides smartly optimized and customizable workflow capabilities which expedites the compliance process for quick approvals/rejection/manual reviews within less than 10 seconds.

Automation: The system enables automatic routing of information related to holdings and transactions and other financial trading activities to the compliance personnel.

Advanced Reporting: The solution features dynamic dashboards which provides enterprise-wide visibility to the compliance controls and processes and highlights high priority cases that need immediate attention. The delivered solution provides a comprehensive real-time visibility into the usable data with analytics giving a bird’s eye-view to the user.

Intuitive, Easy-to-use Interface: The solution framework can be configured as per the company’s established processes and compliance regulations, tuning in the solution to align with business specific standards and requirements. With an adaptable and convenient user-interface, users get quick access to important compliance metrics like pending trade requests, activity requests, pending certifications, guideline violations etc.

MediaAgility provided a proven, scalable, and cost effective solution to help customer and their patrons streamline SEC and FINRA compliance initiatives. The easy configurability of the solution coupled with logically structured, dynamic user-interface accelerated the speed of their operations.