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Compliance, Legal, and HR in a Global Investment Bank

The Compliance, Legal, and HR departments of a bank ensure the business operates within regulatory frameworks, adheres to legal standards, and maintains a professional, equitable workplace environment. The bank earns money through various financial services, including investment banking, asset management, and securities trading. Ensuring compliance and managing legal risks are pivotal in safeguarding the bank's reputation and financial success. HR ensures the organization's talent pool is effectively managed and aligned with the bank's strategic goals.

Challenges

Jerry, a mid-level compliance officer based in the London office, faces a significant challenge when a new regulation affecting international securities trading is announced. This regulation requires immediate understanding and implementation across multiple departments and locations within the bank to ensure continued compliance. The task’s complexity is heightened by the need to coordinate with legal experts and HR to adjust policies and train staff accordingly, all within a tight deadline.

Solution

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User Journey

  1. Regulatory Alert: Upon detection of the new regulation, Jerry receives an automated email from the AI platform summarizing the regulation’s key points and potential impacts on the bank’s operations.
  2. Expert Identification: The email includes a list of internal experts and stakeholders in relevant cities with the necessary knowledge or relationships to help address the regulation. This list comprises legal advisors in New York knowledgeable about international securities law, HR leaders in Singapore who are experienced in implementing training programs, and compliance officers in Frankfurt who have dealt with similar regulations.
  3. Collaborative Planning: Jerry uses the platform to schedule a series of virtual meetings with these identified experts to develop a comprehensive compliance strategy, update relevant policies, and outline a global training program for affected employees.
  4. Implementation and Monitoring: As the strategy rolls out, the AI platform sends Jerry and his team regular reminders to review the implementation progress, update training materials, and ensure all departments are aligned with the new requirements.
  5. Feedback and Improvement: The platform prompts Jerry to gather feedback from the involved departments after successfully implementing the changes. This feedback is used to refine the bank’s response to future regulations, enhancing the AI platform’s effectiveness in connecting the right people at the right time.

Result

With the AI platform’s assistance, Jerry orchestrates a seamless, bank-wide response to the new regulation, ensuring full compliance and minimizing disruption to the bank’s operations, thereby protecting the bank’s market position and revenue streams.

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