Tightening regulations make compliance a top priority for Nomura Americas
Nomura Americas is part of the Nomura Group, a financial services organization based in Asia, with an integrated global network that spans more than 30 countries. Founded in 1925, today Nomura is one of the world’s premier financial institutions, providing retail, wholesale, and asset management services to individuals, institutions, corporations, and governments.
Compliance lies at the core of Nomura Americas’s code of ethics. As with other financial institutions, the organization faces a stringent regulatory environment, making an overriding focus on compliance even more crucial.
These regulations continue to tighten. Previously, Nomura Americas only had to track major material exceptions for one of its regulators. However, due to regulatory changes, it now has to track every exception and provide evidence that it has remediated the issue. Groups responsible for tracking exceptions span the organization and include: swap trading, operations, settlements, operational control, risk management, finance, IT, and business continuity.
Nomura Americas automates compliance management with ServiceNow to increase efficiency and reduce risk
To respond to these expanded regulatory requirements, Nomura Americas took a new approach. Previously, it could manage major exceptions manually, but now that the scope includes all exceptions, it required a scalable solution.
Automation was the obvious choice for Nomura Americas. Its main goal was to protect the company, its customers, and its shareholders from risk. By automating the compliance exception management process, it could manage the process more effectively and provide end-to-end traceability. Initially, Nomura Americas considered building a custom compliance exception application. However, as it investigated further, it realized it could use ServiceNow, which already served as its IT service management platform. Many of the requirements were the same—for example, configurable forms and workflows, approvals, reports, and dashboards.