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About RED-e4...

RED-e4 (Ready-for), is the trading name of Howes Oakwood and has been launched by one of the founders of Beyond Enterprise. It continues the focus on the Regulatory Communication compliance for the financial industry.

Having come from a financial services background, RED-e4 is well placed to understand how these companies work and where the common best practice is in place; and where it has gaps. Now that regulations for voice recording are being extended, RED-e4 can advise the affected companies. In addition, we can help vendors, other advisors and consulting companies where they do not fully understand the impact to financial service companies operating models.

The content of the workshops, assessments and advice is based on direct experience and from associates working for Tier 1 banks, including the Beyond Enterprise team, who had an unrivalled track record with many of their consultants having held senior positions at Tier 1 banks.

Over time our mission is to drive consistency for compliance by using the RED-e4 approach to provide the benchmark for communications compliance and governance within regulated organisations.

Our client engagements take advantage of:

  • Best Practice and Voice Compliance Framework – Our own framework with high standards and requirements knowledge covering Voice Compliance, Voice Recording (inc Mobile), Voice Surveillance and Voice Discovery
  • Voice Compliance Expertise – Leading industry, delivery and technical specialists
  •  RED-e4 Online Portal – Our expertise delivered through on online application, providing canned assessments, best practice and risk management
  • Partners and Associates – Selected industry partners and associates providing solutions, design and development to support the delivery model


 

Red-e4 Services

RED-e4 provides a number of services that are targeted at firms operating in the regulated communications market. These companies include Financial Services companies (Banks, Fund management, Assets Management, Brokers, etc), Voice System Vendors (Voice Recording, Trader Voice, Telephony, Unified Communications, etc) and Consultancies. Below is an overview of the services currently offered.

 
 
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Regulatory Voice Workshops

Understand MiFID II Telephony Requirements and get advice on how this can be mapped into an operating model with clear policy and processes.

Unlike most workshops we will not tell you what you probably already know. The goal of the workshop is to show how you can implement aligned policy, technology and processes mapped to the regulations. This will allow you to demonstrate to the regulators that you have a clear governance model with controls in place.

 
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RED-e4 Assessments

Having the available resources to carry out readiness (RED-e4) assessments or selecting technologies to ensure requirements are being met are often a problem in financial services companies.

RED-e4 currently can support regulatory readiness assessments for your voice and communications environment or support technology selection assessments, known as RFP’s (Request for Proposal or Information).

 

 
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Call Recording

While Red-e4 focusses on the readiness through our assessments and support of our customers policies and processes, we also spend a lot of time identifying and reviewing supporting technologies. The core technology being the capture of the calls. While many mainstream players are focussing on traditional infrastructure build-outs, a few are looking at this from a service perspective - which provides lower overall cost and protection against change (the service needs to adapt rather than your technology).

 
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Business Strategy

Creating an effective business strategy is about really understanding the requirements across all of the stakeholders. It is not about fixing a single problem, which is tactical; it is about creating a unique and viable plan that benefits the organisation and creates value.

Often it will include trade-offs by choosing what not to do; where this is the case, risk and regulations cannot be compromised and this is an area where RED-e4 can provide the most value.

 

Governance and Controls

Governance and controls for the regulated voice requirements (MiFID 2, Dodd Frank, etc.) is a new requirement for many organisations. Where there is a lack of internal resources RED-e4 and provide interim support by helping to create monthly reports and run regular governance meetings.

 

RED-e4 Products

RED-e4 is developing a number of products to support our services. Over time and where there is demand these products and content will be made available to our clients.

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RED-e4 Portal

The online assessment portal. Currently focussed on the Regulatory Communication Assessment which includes approximately 60 topics and 500 checklist items to understand readiness and gaps in the operating model.

The portal also can be used to:

  • Measure effectiveness of each topic (assessment of a policy, report or process)
  • Score is topic to create an indicator of overall readiness
  • Capture and store the relevant documents, processes and policies relating to each topic
  • List risks that need to be managed in relation to the topics and areas

While the portal is currently focussed on the regulatory voice area it has a number of modules that could be used for technology selection including:

  • Mobile Voice Recording and Voice Surveillance and Analytics

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RED-e4 Compliance Policy Engine

Currently in development. The policy engine is being created to allow regulated companies to create policies and link them to the effected users, providing guidance for both the business (who is in scope) and the operations teams (what is in scope).

Long term it will be linked to the communications systems to provide reporting of who and what is being recording against the regulations in real time.

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RED-e4 Canned Processes

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RED-e4 has a number of standard processes that can be made available to clients so that they can adopt them for their own enviroments. The canned processes currently available are:

  • Managing Users Onboarding – whether you call this MAC (moves, adds, changes) or JML (Joiners, movers, leavers) there is a need to have written process that shows how this is being done for MiFID II.
  • Search and Retrieval – when you are supporting a regulatory (or normal legal) investigation you need to make sure your process is robust and has a clear chain of custody.
  • VR Policy and standards – getting the policy right will have a number of dependencies. Here we provide an approach that outlines a generic policy with a number of appendices for the different jurisdiction and communications requirements