Elevate Compliance Efforts with No-Code Risk Management Tools from Smarsh

August 16, 2024by Smarsh

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Smarsh has been strategically innovating Enterprise Conduct to deliver straightforward solutions to maximize risk coverage across communications and simplify compliance workflows. Enterprise Conduct provides compliance professionals with powerful, easy-to-use tools to manage, customize, and deploy risk detection scenarios, including those powered by machine learning. It empowers compliance teams to confidently make data-driven decisions, increase effectiveness, and streamline model risk management.

Unprecedented compliance control

The compliance technology in Smarsh Enterprise Conduct is purpose-built to drive efficiency. It includes the Scenario Builder, which offers a revolutionary approach to risk management for compliance professionals. Unlike traditional solutions that rely on complex coding or professional services, Scenario Builder provides an intuitive, no-code platform that empowers users to take control and create custom risk scenarios. Some unique features include:

  • Own your own risk:
    Scenario Builder allows firms to tailor machine learning technologies to their specific needs, significantly increasing the chances of detecting risks while reducing false positives.
  • Rapid, "no-code" experimentation:
    Users can customize risk detections through rapid experimentation cycles and quickly deploy them with a simple click, without the need for terminals or code editors, making the process stress-free.
  • Integrated risk detections:
    Scenario Builder leverages Smarsh machine learning and lexicon-based risk detection scenarios.
  • Built for the enterprise:
    The platform also saves versions of risk detection scenarios, enabling rollbacks to previous versions and tracking every change and author, making it suitable for audit purposes.
  • Unparalleled power:
    Enterprise Conduct utilizes machine learning, false positive reduction methods, metadata filtering, lexicons, and Boolean logic to identify the signal in the noise effectively.

Data-driven compliance effectiveness

Another component of our unique approach is the Scenario Evaluator, an industry-first evaluation tool used to test models before deployment. This significant platform enhancement empowers compliance teams by allowing them to quantitatively test the effectiveness of their risk detections against their data. This process, previously done through trial and error or labor-intensive data analysis, is now streamlined and more effective, propelling compliance programs into the future. Key features include:

  • Data-driven decision making:
    Firms can create their own "ground truth" datasets and test every change to their risk detection scenarios, including lexicon and machine learning.
  • Built-in best practices:
    The Scenario Evaluator leverages decades of data science experience to automatically calculate well-established metrics for measuring quality, including precision, recall, and more.
  • Champion-challenger testing:
    You can compare your risk detection scenarios with proposed changes. This helps you build on what's working well and discard what's not, ensuring your risk detection constantly improves.
  • Explainability for transparent decisions:
    Gain insights into "why" each decision was made in each communication to spot risks and opportunities more quickly.
  • Downloadable evaluations:
    Create PDFs of evaluations that can be shared with internal auditors, regulators, or other stakeholders.

Future-proof your compliance strategy with Smarsh

Smarsh Enterprise Conduct offers cutting-edge compliance technology that proactively empowers firms to manage and mitigate risks. The Scenario Builder provides unmatched flexibility and control, while the Scenario Evaluator enables data-driven decision-making and transparent evaluations, reshaping the future of compliance programs. By harnessing the power of machine learning and intuitive tools, firms can confidently navigate regulatory compliance, drive efficiency, and ensure a secure business environment.

Reveal risk, comply with regulations, protect against threats and safeguard your company’s reputation

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