Automation Key to Trade Surveillance

Terry Flanagan

With the risks of financial losses stemming from financial crimes staggering, firms are endeavoring to automate processes such as investigating alerts, conducting research, processing paperwork, or filing reports, while improving accuracy, shortening resolution time, and making more efficient use of employee resources.

It has become increasingly that companies adopt a holistic view across the institution to better manage risk, thereby removing information barriers and uniting departments so they achieve full visibility and can safeguard the institution and its clients.

Brown Brothers Harriman has licensed NICE Actimize’s Enterprise Risk Case Manager to automate and streamlining processes and facilitates a unified view of risk across multiple lines of business, channels, products and customers.

“They’re trying to bring together all the different trading surveillance areas that they have in-house into a single case management system that helps ensure that there’s consistency and transparency in their processes and they have a financial crimes view,” Chad Hetherington, global vice president and general manager of NICE Actimize’s enterprise risk-based management business, told Markets Media.

In addition to Actimize’s Enterprise Risk Case Manager, Brown Brothers Harriman has licensed Actimize’s self-development tool to create customized surveillance functions.

“NICE Actimize’s compliance solutions continue to support our business to help us meet the ever-changing regulatory environment,” said Mark Margiotta, vice president, trade Surveillance at Brown Brothers Harriman, in a release. “There are benefits in continuing with a unified suite of products, coupled with the adoption of a single case management system, that will enable us to continue to manage our monitoring solutions.”

By consolidating multiple systems into a single enterprise risk case management solution, users can access multiple data sources and systems through one interface, improving productivity and reducing investigation time.

The Actimize Enterprise Trade Surveillance platform includes a complete set of advanced algorithms, an intuitive user interface, and automated alert management capabilities which allow firms to efficiently monitor for market manipulation, fraud, insider trading and behavioral patterning.

“The Enterprise Risk Case Manager product allows [BBH] to have a unified view whether it’s across geographies or products, so that they can have a consolidated view of customer activity,” said Hetherington. “They will be able to automate help ensure that there’s consistency, and that analysts are handling alerts and suspicious activities, and ultimately trying to enhance the overall efficiency of the operation.”

Featured image by viappy/Dollar Photo Club

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