Hudson River Trading & Anecdotes

Challenge

• Complex regulatory environment: HRT had to adhere to multiple frameworks, including DORA, FAIR Cyber Risk controls, NIST CSF 1.0, and more. Each corporate entity under HRT had unique compliance requirements, particularly across different geographies.
• Audit fatigue: The firm spent significant time with auditors and regulators, dealing with the complexities of varied audit requirements.
• Limited data visibility: HRT struggled with limited visibility into audit and review cycles, compounded by the challenge of managing complex security requirements.
• Manual processes: Building reports and dashboards was labor intensive, and the existing tools were insufficient for HRT’s rigorous compliance needs.

Anecdotes’ Compliance Solutions for Hudson River Trading

• Streamlined evidence management: Anecdotes’ automated cross-mapping capabilities allowed HRT to take a “use once, apply to many” approach with their evidence, tailoring data for multiple frameworks while saving time and improving accuracy across their global operations.
• Real-time compliance monitoring:Anecdotes continuously and automatically collects relevant raw data from HRT’s systems and standardizes it for use in GRC while maintaining its integrity. This provides HRT with instant visibility into compliance status and risk posture, enabling the teams to identify issues before they escalate and ensuring informed decision-making at the executive level.
• Auditor-friendly customization: By enabling HRT to customize evidence views to match auditor-specific requirements, Anecdotes simplified the audit process, improving evidence acceptance and reducing friction.
• Automated workflows for complex programs: Anecdotes automated critical aspects of compliance, from evidence collection to reporting, freeing HRT’s team to focus on strategic risk management and long-term goals.
• Future-ready Google Cloud integration: Available on the Google Marketplace, Anecdotes is positioned to seamlessly integrate with HRT's upcoming Google Cloud infrastructure, providing scalability and flexibility as the business continues to evolve.
• Automation and Scalability: By automating evidence collection and mapping, Anecdotes reduced HRT's workload, allowing the team to focus on strategic risk management rather than manual processes.
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Results

• Regulatory Agility: As regulatory requirements evolve, Anecdotes’ consistently updated platform lets HRT stay ahead and expand into new markets. For example, when the Security and Exchange Board of India's (SEBI) Cybersecurity and Cyber Resilience Framework, which introduced 148 security and compliance controls, came out, the update appeared on the Anecdotes platform within 48 hours.
• Improved Audit Throughput: By automating evidence collection and reporting, Anecdotes helped HRT increase audit efficiency, reducing manual work and saving valuable time. The streamlined process allowed the HRT team to focus on strategic priorities instead of time-consuming compliance tasks.
• Secure Auditor Collaboration: Anecdotes’ secure workflows allowed HRT to collaborate with auditors without compromising its security posture. This preserved data integrity while maintaining complete control over compliance evidence.