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Where can we get better quality regulatory data and analytics that maps to our risk framework ?

Case study #8 Corlytics for a global investment firm

CLIENT:

Our client, founded in the last century, is a large US investment management firm. They offer a range of financial services to customers worldwide. Headquartered in the United States, they manage over one trillion in assets. As a key player in North American markets, our client is listed on the NYSE.

SITUATION:

The financial services industry is typically data-driven. Our client was collecting regulatory data but handled it manually within their regulatory environment. This approach prevented them from achieving the level of quality required for regulatory compliance and risk management. As the regulatory load increased, they realized manual processing introduced potential subjectivity from subject matter experts handling the data.Our client wanted to understand its regulatory environment and how it impacted on its risk landscape.

They recognised that their lack of automation led to valuable compliance and risk resources being used for manual gathering rather than higher value work. In addition, manual efforts had led to inconsistency in how the regulatory
landscape was monitored.

SOLUTION:

Technology is neutral, but new technologies unlock possibilities for business innovation. Our client embraced this concept and transformed its regulatory compliance operations. To meet their needs, we implemented Corlytics’ Regulatory Monitoring. This provided objective regulatory data, eliminating the risk of subjective internal data monitoring and acquisition. Our solution implementation gave them the necessary automation an included risk mapping to their specific risk framework. So now, they will regularly review this risk mapping to stay aligned with our client as they adjust their framework or risk appetite. Functionality within the Corlytics regulatory monitoring solution includes horizon scanning, allowing filtering and slicing/ dicing of data so that the user can work with any dataset that is pertinent to the task in hand.

OUTCOME:

The Corlytics solution impressed our client with its ease of use, enabling them to transition seamlessly from manual processing to the new system. They were also immediately able to see value in the data, and the depth of that data, as their teams were able to take a deep dive into a specific topic or read,
in greater depth, information on fines against their peers.

Corlytics’ analytics and metadata has made it much easier for users to search for relevant information without requiring manual data gathering and being subjective in the collecting and processing of regulatory data. In addition, the data can now be used to feed the internal newsletter across the compliance function.

The Corlytics solution has also replaced other third-party solutions, making them redundant as its capabilities and compatibility surpass those of older, less functional systems. In the future, our client will continue to enrich its regulatory function with additional Corlytics’ solutions to identify future risks and a library of regulations.

Operating in the investment management environment, our client was under pressure to streamline internal processes and boost efficiency to support the management of risk. The successful deployment of our solution and the excellent communication between Corlytics and our client has paved the way to future projects. We are delighted to be continuing to support our client and look forward to future successes.”


Subject matter experts now have external, objective, high quality and trusted data to support or to question their own analysis.

A reduction in manual handling time locating and uploading regulatory data from regulator websites allowing staff to work on higher value activities

A solution that is mapped to the risk framework, with regular updating, reinforcing the firms risk appetite and market resilience.

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