E-communication review framework for asset manager

Client: US-headquartered investment bank with presence in Europe

OPPORTUNITY: Add bandwidth to implement a robust personal trade monitoring process.

SOLUTION:

Based on a detailed understanding of the client’s technology stack, SGA’s team adopted the following multipronged solutions:

  • SG Analytics team conducted detailed scoping calls/meetings to understand tasks which could be offshored
  • Post discussions, SG Analytics deployed a team of two compliance analysts to take over the following tasks from the onshore teams (in a phased manner):
    • Monitoring daily auto feeds
    • Following up with brokers to set up feeds for new accounts
    • Reconciling employee accounts in PTA versus their account statements on a monthly/quarterly basis
    • Reporting exceptions on any violations, errors, and discrepancies

VALUE DELIVERED:

  • SG Analytics set up a streamlined screening process to review all trades
  • SG Analytics set up a robust reporting framework for senior management
  • SG Analytics support enabled the client to review 100% personal share trading transactions compared with c.50% transactions earlier

Client

US-based asset manager with c.US$100bn in AuM.

OPPORTUNITY

The Chief Compliance Officer (CCO) wanted to implement a rigorous e-communication review framework without adding to the onshore headcount.

SOLUTION

Based on a detailed understanding of the client’s technology stack, SG Analytics adopted the following multi-pronged solutions:
  • We deployed a team of three compliance analysts with relevant experience to review all emails, chats and Bloomberg messages generated by the client’s tool (Global Relay).
  • The team went through a one-week training program to understand the methodology followed by the client to identify risk.
  • We performed 100% reviews of all alerts to ensure they meet the internal communication policy. All suspicious alerts were escalated to the onshore team for further investigation.

VALUE DELIVERED

►
1
SG Analytics team reviewed c.1,000 alerts on a daily basis.
►
2
Create a detailed checklist based on the client’s monitoring policies to enhance the lexicon.
►
3
Delivered cost savings of c.50% for the client.
 

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