For financial firms falling under MiFID II, FCA SYSC 10A, Dodd-Frank and MAR, among others, call recording is a regulatory requirement. And without an automated call recorder testing platform, regulated firms currently need to carry out regular checks on their recording systems manually. This is not only labour-intensive and time-consuming but also expensive and risky.
Larger firms – Tier 1 and Tier 2 investment banks and brokers especially – are subject to exceptionally intense scrutiny from regulators, and under enormous pressure to not only have call recording measures in place but to regularly ensure that they are reliably and consistently capturing and storing all necessary communications.
However, manual checks are a significant drain on IT manpower resource and cannot possibly cover 100% of the recorded estate – fixed lines, turrets, mobile phones etc.
This manual process, on top of the inherent risks involved, is a huge burden which IT departments have always simply had to endure.
Are you 100% confident that all of your recorded endpoints are in fact being consistently recorded? Are you manually checking that recorders are operating correctly for all of your voice circuits, dealerboards and mobile devices, globally?
How much manpower does this require? How reliable are these tests? And what percentage of your recorded estate goes unchecked…and for how long?
Particularly for larger organisations, it is simply not possible to carry out regular and comprehensive manual checks of all globally recorded endpoints. You only have to look at Goldman Sachs’ $1 million fine by the CFTC or HSBC’s $270,000 fine issued by the SFC, both in 2019, for evidence of this.
Audio Assure by Insightful Technology, creators of the award-winning SOTERIA unified surveillance platform, solves this problem.
By automating checks of all global circuits and endpoints, from a single location, Audio Assure enables firms to monitor recorder availability and ensure continual uptime across their entire organisation; but without the drain on manpower, the overheads or the risk of human error, which are all unavoidable when taking a manual approach.
On top of this, the ability to also carry out fully automated, ongoing cross-checking of recordings against Call Data Records (CDRs) provides firms with an additional layer of confidence in the performance and integrity of their recording systems.
Worldwide Recorder Testing
Global Call Recorder Testing
Individually or collectively monitor all local and global business circuits and endpoints, from a single location, to ensure continual recorder availability and uptime without the burden of additional manpower or financial overheads.
Individual Line Monitoring
Granular Line Monitoring
Non-intrusively test the integrity and availability of individual business endpoints, including Private Wires and DDI ranges for TDM, SIP-based telephony and Trader Voice positions, as well as mobile network operator lines and application-based endpoints.
Reconcile all Call Data Records from business communications with PBX and Trader Voice position channels, including real-time monitoring, automatic cross-checking and correlation of both call durations and recording durations.
Line Quality Assurance
Line Quality Testing
Automated, non-intrusive testing of line quality using DTMF tones or predetermined scripts. For greater flexibility and efficiency, tests can be custom-scheduled based on dates, times and percentages of channels that require monitoring.
Automated Reporting & Alerts
Automated Reporting & Alerts
Customised reporting allows all major regulatory or operational requirements to be met. Reports include Quality Assurance Ratings, Line and Recorder Monitoring results, and real-time surveillance information which includes details of any triggered alarms. Reports include all related metadata and can be automated to custom content and timeframes.
Proactively generate a random sample of communication data for a customisable percentage of all compliantly captured objects, within custom timeframes. Create searches according to official regulatory requests or based on your business's internal Proactive Monitoring procedures.
Comprehensive Audit Trails
Prove the completeness of all records for Evidential Integrity, and monitor the sequence of any given user or system activity, with full UTC-timestamped audit trails. All activity is monitored at object or keystroke level, enabling users to reconcile records or surveil data relating to line and circuit monitoring, quality assurance testing and any triggered reports or alerts.
Want To Automate Your Call Recorder Checks?
If you would like to learn more about how Audio Assure can help your organisation become more compliant, lower overheads, liberate resource and reduce operational risk, please contact us to discuss your requirement and arrange a demo.