ACA Compliance Group (ACA), a provider of governance, risk, and compliance advisory services and technology solutions for financial services firms, has launched ComplianceAlpha 2.5. Available now, ComplianceAlpha 2.5 provides firms globally with the ability to gain deeper insights into potential risk and opportunity across the enterprise through customisable dashboards, automated reports, and the integration of ACA’s Decryptex trade surveillance and market abuse detection functionality.
The ability for chief compliance officers (CCOs) to ensure they have comprehensive oversight into their compliance programs has never been more critical than in the work from home environment triggered by the COVID-19 pandemic. Regulators, boards, management, clients, and investors expect transparency and data-driven insights into key performance indicators (KPIs), trend analysis, trading activity, and employee behaviour. At the same time, firms are ingesting an unprecedented amount of data due to third-party system integrations and new technologies. However, making sense of this data in a meaningful way requires compliance officers to perform time-consuming and error-prone manual analysis.
Carlo Di Florio, Global Chief Services Officer, ACA Compliance Group, says: “Regulators worldwide are focused on how firms are managing risk and detecting potential misconduct in the extended work from home environment. ComplianceAlpha provides firms with the enhanced holistic surveillance capabilities needed to effectively manage today’s evolving and inter-connected risks and challenges – a phenomenon ACA calls RiskMutation™ – while also improving the efficiency, resilience, and scale of their risk and compliance programs.”
ComplianceAlpha 2.5 includes enhanced analytics capabilities powered by a new reporting engine that connects firms’ data to provide sophisticated reporting and deeper insights for measuring key performance indicators (KPIs), analysing trends, surveilling compliance activity, monitoring employee conduct, and optimising compliance workflows. Risk and compliance officers can visualise and drill down into the data through customisable dashboards and schedule automated reports to systematise their internal and external reporting obligations with flexible and visually appealing outputs.
With the integration of ACA’s trade surveillance and market abuse detection functionality, ComplianceAlpha can now provide analytics and reporting on items of interest related to firms’ trading activity.
Raj Bakhru, Chief Innovation Officer, ACA Compliance Group, says: “Compliance officers need effective dashboards to visualize KPIs as well as the ability to report internally upwards and downwards and externally to clients and regulators. ComplianceAlpha provides compliance officers with a unified view into their firm’s compliance activities and surveillance-related items of interest. The platform’s new dashboarding and reporting capabilities empower compliance officers with the data points they need to demonstrate the strength of their compliance program and to derive deeper, more meaningful insights into their program.”
