Overview
The Personal Account Trading group within the Compliance Department is responsible for implementing employee personal-trading policies, as well as monitoring trade activity to ensure compliance with bank policies. The process was time-consuming and paper intensive. To reduce the process backlog, the team outsourced paper scanning to a lower-cost market and developed an online review tool to ensure consistency and compliance. As a result of the improvements, the backlog was eliminated, cycle time was reduced from 60-90 days to less than 30 days and the escalation rate and privacy risk were also reduced.