SURVEIL-X Behavior, included in the SURVEIL-X Conduct Surveillance suite, creates a single employee behavioral profile to provide insights into various thresholds of employee conduct
NICE Actimize, a NICE business, today announced the introduction of SURVEIL-X Behavior, the newest AI-powered solution in its market-leading SURVEIL-X Holistic Employee Conduct Surveillance suite. In addition to its surveillance coverage for markets, communications, sales practices & suitability, and conflicts of interest, NICE Actimize’s SURVEIL-X now provides financial services firms insights into employee behavior across numerous dimensions so firms can proactively identify the driving factors behind conduct risk.
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“Risky behaviors can expose an organization to unnecessary risk. SURVEIL-X Behavior consolidates metrics from many systems into a single behavioral profile to provide firms with a comprehensive understanding of employee conduct.”
Among SURVEIL-X Behavior’s critical capabilities, the solution alerts managers on certain thresholds, such as not completing compliance training or being the subject of excessive customer complaints. Through awareness and understanding of these sources of risk, managers can take preventative action, such as coaching or re-training an employee, enacting new policies, launching an investigation, or putting an employee or department under heightened supervision.
“Employees are a firm’s most valuable asset, but certain behaviors can negatively impact the firm’s reputation or bottom line,” said Chris Wooten, Executive Vice President of NICE. “Risky behaviors can expose an organization to unnecessary risk. SURVEIL-X Behavior consolidates metrics from many systems into a single behavioral profile to provide firms with a comprehensive understanding of employee conduct.”
Additional capabilities of the SURVEIL:X Behavior solution include:
- Ingesting metrics and alerts from hundreds of sources, including HR, customer complaints, access control, learning management, and surveillance systems. This includes alerts generated from anomaly detection, a form of AI capabilities used in the solution to detect atypical patterns in communications or trades.
- Leveraging AI capabilities to analyze employee behavior across various dimensions. Any number of behavioral inputs can be aggregated into an overall score, including trading limit breaches, unusual patterns of cancellations and corrections, and aggressive or negative communications detected through Natural Language Processing.
- Monitoring such factors as aggressive selling, expense violations, attendance issues, excessive customer complaints, unauthorized access attempts to systems, non-public information breaches, conflicts of interest, vacation violations, and more.
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“Most surveillance systems today focus exclusively on individual domains, such as trading or communications, to the exclusion of behavioral factors which contribute to risk and ultimately impact a firm’s reputation, profitability and market valuation. These metrics are traditionally stored in various, fragmented systems, making it difficult to secure a reliable and comprehensive picture of employee behavior,” said Vinod Jain, Strategic Advisor, Capital Markets, Datos Insights.
At a firm’s discretion, NICE Actimize’s Behavior solution allows certain factors to be weighted more heavily in the aggregate score. Risk scores are presented on a visual dashboard, and managers can drill down to view underlying contributing factors. SURVEIL-X Behavior’s dashboards and automated reporting provide insight into areas of concern for individual employees, departments, divisions and teams, and the organization as a whole.
SURVEIL-X Behavior is part of the NICE Actimize SURVEIL-X Holistic Conduct Surveillance suite which leverages AI capabilities to provide unparalleled compliance coverage for online brokers, buy-side and sell-side firms, insurance companies, crypto exchanges, regulators and more.
SURVEIL-X incorporates anomaly detection, Natural Language Processing (NLP), alert prediction, and other AI technologies to enable accurate detection and rapid, thorough investigation of market abuse, inappropriate sales practices, employee misconduct and other compliance issues.
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