Welcome to the last installment of this 5-part Compliance in Finance Series, where Innovation in Compliance host, Tom Fox, talks with Philip Fry, the VP of Go To Market Strategy for Verint. Today, Phil and Tom are talking about oversight – bringing together data and analysis from across an organization.
Listen to the episode:
Phil makes the point that the success of a compliance program is dependant on your ability to see the whole picture, so gathering, combining, analysing and understanding the data created by various operational systems can keep an operation running smoothly, or run it off the rails. There are plenty of challenges in managing this month information, but Phil thinks it’s more achievable than it might look at the outset. The key is the ability to cut through all the noise created by the mountains of data, and home-in on areas of concern, of potential or real non-compliance, that require attention.
Tom and Phil discuss the different ways this oversight can be gained, and the importance of open standards across compliance solutions. They talk about Trade Reconstruction, speech analytics, surveillance, and the new technology that is bringing them together and making them accessible to compliance program managers around the world.
If you missed any episodes of the Compliance in Finance Series, click on the links below to catch what you missed, and if your organization needs a comprehensive, up to date and sustainable compliance solution, reach out to Verint to see what they have to offer.
Episode 1: Overview
Episode 2: Capture
Episode 3: Control
Episode 4: Sustainability
Tag: philip fry
Welcome back to the Compliance In Podcast Series with Philip Fry from Verint! Yesterday we talked about the tools, strategies and importance of controlling the information its now possible to capture, and today, we’re getting into making that kind of activity sustainable over the long term.
Listen to the Episode:
Tom starts the conversation by mentioning how common and multi-purposed the word sustainability is, so Phil gets into some detail about exactly what sustainability means from a compliance in finance standpoint. Namely, that it refers to effectively managing constant change and moving your compliance organisation and resources, technology, practices, procedures, data, skills etc. to a place where they run effectively and efficiently, without undue drama (however that might be caused) and where compliance risks are minimised.
A big part of successfully making a complex compliance program sustainable is looking back on what different tools, systems and strategies have been in place before the newest one, to help plan an attainable rout from where companies are to where they want to be. Phil talks about how this has shaped his vision of the future and the other factors that have to be considered, like the ability to cope with disruption, verifying the operation of a structure, and the attitude and will of an organization. All stakeholders need to be invested in a compliance program if it’s going to be sustainable going into the future.
In tomorrow’s fifth and final installment, Tom and Phil discuss how to get and keep oversight of the mountains of information that are generated by modern compliance programs.
If you missed any of the previous episodes – click the links below to catch up!
Episode 1: Overview
Episode 2: Capture
Episode 3: Control
Resources:
Philip Fry
Verint
