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Quickly Identify and Mitigate Risks with Compliance Risk Dashboard

December 18, 2020 By BlueAlly

Mitigating compliance risk is more important than ever—but understanding the steps you need to take to modernize your approach isn’t always intuitive. In this blog series, we’ll not only cover the key steps you can take to ensure compliance at your company but also how Proofpoint products can help.

A Day in the Life of a Compliance Professional

In this first blog of a series, we’ll profile a day in the life of a professional with responsibilities for monitoring digital communications to help ensure corporate and/or regulatory compliance and how Proofpoint can help.

In line with Proofpoint’s People-Centric vision, the Compliance Risk Dashboard quickly provides a view of the most relevant risk activity within Intelligent Supervision for Proofpoint Enterprise Archive customers.

The significance of this dashboard is it allows for a more holistic approach to compliance oversight. Supervisors can see the full breadth of their potential compliance risk through an intuitive, easy-to-navigate lens. With the dashboard, they can drill down on monitored users and the flagging rules which are generating the most confirmed activity within specified time frames. This means adverse trends are more apparent, as shown below.

Using the Dashboard, Smith can drill down on the confirmed activity for each user. For example, the review of Mandy Cannon’s 90 confirmed flags reflects that 50 of them involve the Suitability Flagging Rule. This rule’s lexicon detects instances where Advisors are potentially recommending unsuitable high-risk products to customers. The dashboard also highlights the fact that Mandy Cannon is a Repeat Offender by the red icon.

While browsing a dashboard panel, you can easily determine what criteria can lead to deeper insights by hovering over it.”. Clicking on Mandy’s name displays a new panel (see graphic below), which shows Cannon’s confirmed flag trends and her rank based on confirmed flags within the Compliance Division. In this panel, Smith determines that most of Cannon’s confirmed suitability flags occurred in July and August. Smith is also able to see Simon Ellis who shares an office with Cannon is also adversely trending in connection with confirmed suitability flags. Upon further investigation, Smith determines Ellis’s confirmed flags also fall within July and August.

Based on the trends identified for Cannon and Ellis, Smith initiated an investigation into their activity. Smith conducted searches within Intelligent Supervision and determined Cannon and Ellis were promoting unauthorized investment strategies involving the purchase of variable annuities and whole life insurance policies. The investigation reflected that the recommendations to some customers as part of this investment strategy were unsuitable and resulted in significant harm to them. The dashboard allowed Compliance Officer Smith to quickly identify, investigate and act on a most serious regulatory issue and potentially avoid an audit, fine, negative company exposure, and more.”

As you can see from this hypothetical case study, the Compliance Risk Dashboard can make potential adverse trends more apparent, because Supervisors can visually see where their potential risks lie and spend time focusing on them.