Compliance Business Analysis & Program Management Assistance

The Requirement

A global broker-dealer sought support to streamline and strengthen its core compliance functions, which include firm-wide compliance and market surveillance as part of their growth and transformation strategy. The broker-dealer engaged RegEdge for business analysis and program management expertise to support and enable the technology transformation.

The Solutions

Central Compliance

RegEdge conducted an exhaustive evaluation of ongoing projects, emerging needs, and challenges, leading to a streamlined product backlog for core compliance operations. This process encompassed all aspects of employee compliance, including outside business interests, trade clearance, compliance training and certification, gift and entertainment guidelines, political contributions, and all necessary employee disclosures. By collaborating with each designated business owner, the tasks were effectively prioritized, allowing technology teams, split between internal staff and external vendors, to concentrate on key functions vital for supporting business expansion and maintaining regulatory compliance. RegEdge has successfully coordinated with two external vendors and three in-house tech teams, working in concert with stakeholders to execute requirements and resolve outstanding issues.

Markets Surveillance

In a manner akin to central compliance, RegEdge synthesized a prioritized backlog for various products including equities, fixed income, futures, and swaps. The RegEdge team efficiently managed a newly onboarded technology team, enhancing trade surveillance capabilities for the firm. This included developing trade flow documentation, delivering targeted trainings, and establishing a new rhythm with stakeholders to expedite the team's ramp-up.

Furthermore, RegEdge played a crucial role in deploying a Trade Surveillance solution in the Latin American market, utilizing a newly incorporated vendor product for the initiative. The team's involvement extended to data analysis, converting operational needs into precise product specifications, and collaborating with the business to outline scenarios. We also supported the demonstration and rigorous testing of each implemented risk scenario.

Compliance Technology Strategy

RegEdge collaborated with the Compliance technology and strategy leadership to devise a comprehensive plan for the forthcoming year, aiming to chart a course for the firm's sustained development and evolution. This collaboration focused on integrating innovative compliance solutions and technological advancements to reinforce the firm's infrastructure, ensuring readiness for future challenges and opportunities.

The Results and Benefits

RegEdge took a hands-on approach and partnered with each business owner to conduct a thorough current state and future state assessment of each of the functions. Meticulous documentation of current processes and flows was undertaken, capturing needs for regulatory compliance, system improvements, and bug fixes. Leveraging our industry expertise and past successes, we shared valuable peer practices and insights that streamlined processes. This collaborative effort laid the groundwork for a dynamic technology strategy, and ensuring that the firm is well-positioned for progressive transformation and steady growth in the competitive market.