SunGard announced today the availability of a new release of Protegent Surveillance, a compliance solution that helps retail broker/dealers to reduce regulatory and reputation risk by helping automate trade and account surveillance, client suitability and auditing.
The latest release of Protegent Surveillance includes new and enhanced modules for daily account risk review, alert management, consolidated client data auditing, and transaction and account based anti-money laundering (AML) with exception workflow and case management.
"With this latest release, Protegent Surveillance is more effective in providing pattern and trend detection, data consolidation, and 'know your customer' and historical details that are critical to homing in on high-risk issues," said Paul Erickson, president of SunGard's Protegent business unit. "This new release offers an improved workflow and framework, driven by timely data that provides a more proactive and expedited review process to help support faster resolution, and an improved user interface that offers added flexibility in analyzing and viewing data to the finest detail."
Protegent Surveillance now features a new AML module that monitors transactions associated with the movement of securities and assets, as well as examining client profiles, to help firms identify, assess and manage suspicious activity associated with potential money laundering activities. Developed under the guidelines of the US Patriot Act and the Bank Secrecy Act, the system alerts personnel of candidate accounts for further due diligence as required under current rules and regulations. Workflow and case management capabilities help managers to route issues and track them through resolution.
Protegent Surveillance's Account Review module has been enhanced to provide a more proactive, daily assessment of violations to support faster resolution of problems. In addition to providing monthly account risk analysis, scoring and ranking, this enhancement includes daily account compliance analysis. It helps alert compliance and supervisory personnel of compliance and suitability violations existing in accounts, violation patterns and trends of an account, and an overall account comparison against similar accounts on an a daily basis.
The enhanced Audit module helps senior management and authorized supervisors to perform remote field audits and sales practice reviews across the organization in a more streamlined fashion. With this module, Protegent Surveillance provides a centralized view of information, using data from the back office and other sources, aggregated and viewable at all levels of the firm's defined organizational hierarchy as well as at the individual account level. This all-inclusive yet delineated presentation of data helps firms to identify high-risk or problem areas by allowing them to monitor activities, patterns and trends, and overall performance across accounts, reps, branches and regions.
Protegent Surveillance consolidates data from disparate trading and transaction processing systems to provide compliance officers with the ability to efficiently manage and automate the compliance and supervision process, including trade and account surveillance, suitability review, exception reporting, regulatory and internal auditing. Protegent Surveillance's workflow and case management capabilities help firms to effectively meet their supervisory and operational risk management responsibilities.
In addition, SunGard offers complementary compliance solutions such as the Synapse Workbench for customers that want to define their own rules without the need for technical expertise, as well as the Protegent PTA (Personal Trading Assistant) for automated personal trading, pre-trade clearance and post-trade reconciliation, code of ethics and employee compliance.
SunGard provides a diverse set of compliance and risk mitigation solutions that encompass risk management, surveillance, supervision, regulatory and ethics monitoring. Leveraging SunGard's Common Services Architecture, compliance components can be rapidly deployed alongside or embedded within line-of-business systems and orchestrated to provide an enterprise-wide view. SunGard also provides regulatory and compliance consulting services that are designed to help senior executives at financial institutions assess the quality and substance of their risk and compliance programs.