The collective reliance on Zoom during the pandemic cannot be overstated. The conferencing platform’s daily meeting participants in December 2019 averaged around 10 million. By April 2020, just four months later, that number had grown to more than 300 million — a whopping 2,900% increase.
Many organizations are now reliant on Zoom as a business-critical communication channel. In lieu of conference room meetings, coffee shop chats and water cooler conversations, “Zooming” has become the new normal for connecting with colleagues and clients. But what are the implications of our dependence on Zoom?
For financial services organizations, the sudden shift to Zoom as a foundational business tool introduced new security and compliance risks and uncertainty about how to interpret and fulfill regulatory obligations. Regulated firms must gauge the benefits and risks of tools like Zoom, whether to allow or prohibit its use, and how to preserve and monitor Zoom content for compliance.
Regulatory Advisor, Smarsh
Marianna Shafir is Regulatory Advisor at Smarsh, where she’s responsible for legal and regulatory affairs worldwide. With her expertise in financial services industry, compliance and eDiscovery, Marianna counsels Smarsh clients on meeting regulatory obligations, leveraging technology and guidance on best practices related to electronic communications supervision. Prior to joining Smarsh, Marianna worked for BNY Mellon and Invesco where she was an instrumental member on compliance teams. Marianna has also served as an adjunct professor at New York Career Institute where she taught Law Office Management and Real Estate Law. She earned her Juris Doctorate from Nova Southeastern University. She is a frequent speaker at industry conferences and a contributor to various online publications.
Founder and CEO, Elinphant, L.L.C.
Elin Cherry is founder and CEO of Elinphant, L.L.C., a financial compliance consulting firm. She is a Capital Markets and Compliance Executive who has served as a key member of Compliance Senior Management teams. Known for gaining regulator confidence, she has a proven track record in managing regulatory relations and examinations and has strengthened firm’s credibility with regulators during times of financial stress. Elin is adept at successfully implementing Compliance Programs to enable firms to be proactive regarding compliance matters. Prior to founding Elinphant, Elin was a Principal and the Head of Capital Markets at Compliance Risk Concepts (“CRC”). In that role, she grew a book of business generating half a million dollars in revenue.
Founder, Radical Compliance
Founder of Radical Compliance and former editor of Compliance Week, Matt has been a leading author on regulatory risk and corporate compliance for over 15 years.