Financial Services and Global Regulatory Requirements: Balancing the ease of electronic-communications usage with regulatory expectations

Gautam Sachdev, Partner, AlixPartners UK LLP
Anir Bhattacharyya , Director, AlixPartners
Paul Brabant, Partner and Managing Director, AlixPartners

Rapid technology developments over the last twenty years have significantly limited the foundational principle that financial regulators should have the ability to monitor and enforce compliance with market rules. This is due to employees’ adoption of personal communications methods that are not covered by monitoring programs (typically voice calls, chat and email). While the technology available to compliance teams also evolved, the adoption rate for controls is slower than with communications technology. The SEC and CFTC’s focus on wall street firms that tolerate such unapproved communications create new risks to firms that fail to rein in these practices amongst their employees.

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UK Regulation Banking & Finance May 2023 Vol.16, No. 63, Spring 2023

Gautam Sachdev

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Gautam is a seasoned risk and compliance professional with more than 16 years of in-house experience in various global and regional roles in the areas of compliance, risk management, operations, governance, technology and risk assessment in the second line of defense. He has worked at major financial institutions both in the United States and abroad. Previously, he was with Macquarie Group as managing director, global head of risk surveillance, and chief product owner for risk management, overseeing operations, governance, technology, and strategy. Gautam has an MBA from Northwestern University’s Kellogg School of Management and a Master of Science in electrical engineering from New York University.

Anir Bhattacharyya

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Anir Bhattacharyya has worked within financial services for the last 17 years focusing primarily on non-financial risk topics; Conduct, financial crime, risk culture and compliance alongside his management consulting experience; strategy, operations, data governance, change and programme management. Anir has helped multiple globally complex and matrix organisations (ranging from financial regulators, banks and insurers) with critical regulatory monitorships through to proactive digital transformations, applying his strategic and change skills to promote sustainable, long-term improvement and better outcomes. Having worked on programmes either focused on regulations & policy or on data & technology or on change management & risk culture, Anir now focuses on integrating these different areas and focusing on behaviour led change within the risk and compliance space. Since joining AlixPartners Anir has assisted clients with building integrated operating models in Asia and is engaged with several clients on the topic of more human centric approaches to risk and compliance management. Anir has received his Bachelors degree (BSC) and a Master of Science (MSC) from Lancaster University Management School and is a Certified Management Consultant (CMC)

Paul Brabant

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Paul has more than 20 years of experience working in a variety of roles in the global legal sector. He has acted as a lawyer, an electronic discovery expert, and a software development executive in the United States, France, and the United Kingdom. Paul advises lawyers in cross-border disputes and investigations, and he leads internal and regulatory investigations for high-profile clients. As a former legal technology executive, Paul incorporates automation, machine learning, and predictive modeling into his practice yet understands how to work within the limits of such technologies. Paul has a Juris Doctor from Washington College of Law at American University and speaks English, French, and Spanish.

AlixPartners

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AlixPartners has worked with clients around the world for more than forty years, helping businesses respond to challenges when everything is on the line—from urgent performance improvement to complex restructuring, from risk mitigation to accelerated transformation. Each project is different, but they all have one thing in common—a need for decisive, informed, and often urgent action, when it really matters. AlixPartners specializes in: • Management consulting • Strategic planning • Corporate restructuring • Go-to-market strategies • Business growth and performance improvements • Accelerated business transformation • Investigations, disputes & risk • Economics consulting

AlixPartners UK LLP

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UK Regulation Banking & Finance May 2023 Vol.16, No. 63, Spring 2023
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