How RegTech Can Transform Your Business

October 18, 2019 by ACA Compliance Group


ACA's Patrick Conroy recently shared his insights on the benefits of regulatory technology (RegTech) with FT Adviser. Highlights include:

  • "In this era of ever-changing regulatory requirements, RegTech is removing the pain points in customer onboarding and meeting the compliance requirements of AML, KYC and Regulatory Reporting, except of course for those companies that are still using the laborious manual route."
     
  • "Successful implementations of RegTech solutions have enabled organisations to stay one step ahead of their competitors and in line with the increasingly advanced technological capabilities of regulators, who are better positioned than ever to identify misconduct and non-compliance."
     
  • "RegTech ticks all the boxes: it delivers efficiency gains, reduces costs, reduces risk and can flag regulatory challenges before infringements occur."
     

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To learn more about our regulatory technology solutions, please contact Patrick Conroy at +1 (781) 234-5631, or request a demo here.

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Additional Resources

  • 6 Hot Topics in Employee Compliance (Blog post) - Is your code of ethics monitoring and personal trade surveillance compliance program built to beat the heat? This blog post recaps our recent webcast on this topic and provides best practices for navigating complex and evolving areas of compliance management, including cryptocurrency, pay-to-play, robo-advisors, and more.
     
  • 6 Ways to Stay Ahead of Financial Regulators with RegTech (Blog post) - Regulators globally continue to invest in developing their technological capabilities to quickly and efficiently manage data, and they expect investment firms to do the same. In this blog post, ACA's Burt Esrig and Michael Lehman discuss what you need to know and how regulatory technology solutions can help.
     
  • Code of Ethics/Personal Trading Technology - Understanding the Three Key Benefits (Blog post) – The adoption of RegTech is rapidly becoming business as usual for an increasing number of compliance teams, with personal trading/code of ethics compliance being one of the most significant areas of RegTech adoption. ACA's Jordan Schwartz details the major benefits of adopting a code of ethics/personal trading technology solution.
     
  • Addressing the Rising Cost of Non-Compliance with RegTech (Blog post) - Regulators' advances in tech are supporting their ever-broadening scope of responsibility, resulting in increased enforcement actions and fines. In this landscape, RegTech is no longer a "nice to have" for investment firms, but an imperative.
     
  • Personal Trading - Rule vs. Best Practice (On-demand webcast) - Rule 204A-1 under Investment Advisers Act of 1940 is a cornerstone of every registered investment adviser’s compliance program. In this webcast, we discuss the Code of Ethics Rule and the industry’s best practices in dealing with the personal trading requirements under the rule.
     
  • How RegTech Helps Firms Increase Efficiency and Reduce Risk (Blog post) - Although regulatory compliance will always be a function led and directed by people, technology can support those efforts and make processes more efficient and effective. Here are five ways it can be of benefit to your firm to make RegTech an everyday part of your compliance program.
     
  • How RegTech Can Enhance Your Firm's GRC Program: A 4-Step Approach (blog post) - Chief compliance officers (CCOs) and risk and compliance teams know they need regulatory technology to meet ever-increasing regulatory obligations as well as establish best practices for their firm’s governance, risk, and compliance (GRC) program that reduce operational risk and increase operational efficiencies. While the value added by a RegTech solution is clear, understanding the full scope of a GRC technology implementation can be a significant challenge. This blog post explains four steps for enhancing the effectiveness of your firm’s GRC capabilities using technology.
     

About Patrick Conroy

Patrick Conroy is a Managing Director at ACA Technology concentrating on driving the growth and development of ACA's Regulatory Technology and Governance, Risk, and Compliance (GRC) products. Patrick’s focus is on working with ACA’s largest and most complex clients/prospects to understand their key challenges and to collaborate with them on finding the right solutions. In addition, he represents ACA Technology at conferences and corporate events, as well as participating in speaking engagements, and providing Regulatory Technology thought leadership.

Before joining ACA, he served as Global Head of Compliance Services at Charles River Development, where his role included serving in business development, sales, product development, and product management capacities. Previously, he held a variety of compliance and financial service roles at Brown Brothers Harriman and State Street Corporation. Patrick earned his B.S.B.A. in Finance (cum laude) from the University of Massachusetts.