Impact of COVID-19 on front-office Markets business oversight for financial institutions

At a time when the COVID-19 disruption has triggered historic levels of trading volumes and market volatility, financial services organisations—like the rest of the economy—had to address the added challenge of a mass migration of employees to work from home. In these unprecedented times, the oversight of conduct and remote supervision and surveillance of employees, clients, and markets had to overcome some initial operational challenges. More significantly, first- and second-line functions were presented with a unique opportunity to stress test their entire operations and gain insights to prepare front office oversight for the reality of virtual trading floor environments.

While most organisations successfully managed to perform their front office oversight activities remotely, having close to a 100% of their sales and trading population working from home has re-surfaced some of the known control oversight inefficiencies and created momentum for supervision and surveillance teams to innovate, take advantage of new technologies, and improve how they oversee employees, clients and markets, especially in an increasingly virtual workplace.

Learn about the common challenges and what steps financial institutions can take to solve for them in our latest article.

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