Behavox Helps Usher Jefferies into a New Era of Enhanced Regulation and Risk Management

 

One of the biggest challenges global financial institutions face is balancing the various regulatory requirements of each country or region of operation. The answer? An agile compliance solution that can be quickly implemented across the globe. 

Jefferies Group, the world’s largest independent investment banking firm, understood this challenge and knew it was time to upgrade. 

To maintain and improve its progressive compliance culture, the bank has adopted and fully implemented Behavox’s compliance solution to support the protection of its global employee base. Our flexible solution will enable Jefferies to adhere to the wide range of regulations global financial organizations face.  

The launch of Behavox Compliance solution at Jefferies involved a rigorous proof of concept demonstration and comprehensive performance testing, followed by an implementation that included user interface enhancements, sophisticated reports, and numerous training sessions.

Behavox provides Jefferies with an agile compliance solution and advanced data analytics to help the bank comply with evolving regulations and heightened levels of government oversight. 

Using Behavox, the bank has the ability to detect market abuse, insider threats, collusion, and more than 80 other non-compliant and misconduct scenarios.

In addition to enhancing compliance rigor globally, Jefferies Chief Compliance Officer Lauri Scoran said the investment in Behavox also reduces future data center, software, and hardware costs. 

Jefferies’ proactive drive to address the shifting and non-uniform regulatory landscape comes at a critical time for the financial services industry. The unrelenting pandemic has prolonged remote working environments, increasing risks of misconduct. Regulators and compliance teams alike are reassessing practices to conform to an indefinite period of distributed workforces. 

With the pandemic expected to impact the industry indefinitely, Jefferies’ proactive approach to hardening its global controls and incorporating more AI and machine learning-driven intelligence represents the initiative firms must take to protect their business continuity, revenue generation, and brand.

Read more about Jefferies and Behavox Compliance solution in our press release. We look forward to helping Jefferies manage its compliance program across the firm’s international operations.