The coronavirus pandemic has changed the way companies conduct their day-to-day operations. As many governments worldwide have implemented travel and work restrictions to combat the virus’ spread, firms have employed work-from-home arrangements for their employees.
Consequently, as most of the firms’ workforce has transitioned to remote work environments, the Financial Industry Regulatory Authority (FINRA) has issued a regulatory notice to help organizations smoothly transition to remote work and remote supervision.
The use of web-based tools, electronic document management systems, and cloud-based services has made it easier and more convenient for businesses to transition to remote work and implement their business continuity plans (BCPs). It also allowed them to support their customers while changing their work operation processes.
Moreover, FINRA has found that firms were mostly prepared to transition to remote work; but, several other firms have implemented additional safeguards, particularly remote supervision protocols. It comes as they have had various supervisory concerns and compliance issues, such as text messaging compliance.
Although the world is grappling with the COVID-19 pandemic, businesses must still capture SMS messages and record voice calls. It not only helps organizations supervise their employees in remote work environments but also ensures regulatory compliance.
Companies utilize communication tools, such as mobile archiving solutions, to implement their text messaging and call monitoring strategies. These help monitor, record, and capture phone calls and messages from devices used by their employees.
Accordingly, organizations avail archiving solutions, such as TeleMessage’s WhatsApp archiving, to effectively and efficiently record messages and calls and ensure compliance with public records archiving laws even during a crisis.
Through the utilization of communication tools and platforms, employees can transition smoothly to remote work, and businesses can effectively and efficiently remotely supervise them. This infographic from TeleMessage discusses FINRA’s notice on the transition to remote work and remote supervision.