Ensuring Compliance and Regulation for a Large Financial Asset Manager

Author: Endera

Published: June 20, 2022

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“Endera’s Continuous Evaluation notifies us to new civil and criminal events

whether or not our employees self-report."

 

CSO, Financial Asset Management Firm

 

 

A financial asset management company with a large workforce of financial planners and financial advisors is responsible for the portfolios of customers across the United States.

 

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Their workforce is highly regulated and the firm as well as the individual advisors are required to disclose criminal and financial risk events to the Financial Industry Regulatory Authority (FINRA).

The internal security team at the firm was faced with a lack of resources needed to manage the large volume of risk events which included many false positives and non-business relevant information. They needed a platform that could provide automated insights from a wide variety of data sources delivering business-relevant, identity-based risk focus.

Endera's Continuous Evaluation gave the client a scalable, easy to use tool to evaluate continuous and on-going risk events of their regulated and high-risk workforce. The platforms proprietary data integration and ID matching enabled them to scan thousands of external data sources for relevant information on risk – vastly reducing the time and manpower needed to manage the risk profile of their workforce.

Using CE, they were able to enroll 9,000 insiders while monitoring thousands of criminal, civil and watchlist sources. Within 90 days of onboarding the platform they detected over 200 critical historical events that needed attention. They also were able to prioritize fourteen continuous events as reportable to FINRA, which while shocking avoided the firm thousands of dollars in damages.

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