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Russell Investments Selects ACA Group to modernise risk, compliance

By Sunniva Kolostyak

March 18, 2021

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Governance, risk, and compliance advisor ACA Group has been selected by Russell Investments to provide its ComplianceAlpha solution in a move to modernise and streamline its compliance programme.

ACA GroupRussell Investments, a global investment firm providing tailored solutions and services to institutions and individuals through financial intermediaries, chose ComplanceAlpha because it was in search of a technology solution that could bring together their compliance data, activities, and reporting in one scalable, flexible platform.

The ACA tool is a regulatory technology platform that integrates risk and compliance activities, automated surveillance, ongoing monitoring, flexible workflows, enhanced analytics, and managed services delivery.

It is used by 800 leading financial services firms worldwide to build more scalable and resilient compliance programs and will enable the investments firm to move from disparate systems to a centralised hub – providing harmonisation, transparency, and standardisation across their global compliance programme while reducing costs across the firm.

Specifically, Russell Investments is implementing ComplianceAlpha’s solutions for employee compliance, market abuse surveillance, compliance programme management, and marketing reviews.

Commenting, Andra Purkalitis, Global Chief Compliance Office at Russell Investments, said: “ACA has helped us improve our compliance program through the use of sophisticated technology and increased economies of scale, efficiencies, and standardisation. ComplianceAlpha has enabled us to build a progressive compliance function that positions compliance as a competitive advantage. We believe this will help us win and retain business as new and existing clients increasingly focus on compliance oversight.”

Patrick Conroy, Managing Director, Regulatory Technology at ACA, added: “Many investment management firms have multiple systems and data sources that don’t communicate with each other. In today’s world of progressive regulatory change and the ensuing demand for better transparency, compliance officers need to be able to see key trends and risks across the enterprise.”

“ComplianceAlpha provides a single source of truth that enables compliance officers to have a unified view of risk and opportunity across the firm. ComplianceAlpha has helped Russell Investments modernise and simplify their compliance program in a way that allows them to meet regulatory expectations while adhering to industry best practices.”

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