compliance analytics
DESCRIPTION
Presentation from SWIFT Compliance Day 2014 in FrankfurtTRANSCRIPT
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Compliance Analytics Germany compliance forum
Geertjan van Bochove, Manager Business Intelligence EMEA
June 2014
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1. Banking areas
that represent
high money
laundering risks
are attracting
increased
regulatory
scrutiny
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The context
2. Correspondent
banking is a
high-risk area –
and is crucial to
business
growth and
operations
3. Key growth
areas must be
prioritised whilst
managing money
laundering risks
in a (cost-)
effective manner
4. Analytics can
help you identify
and assess
potential risk
and respond
more effectively
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Introducing
Compliance Analytics
from SWIFT
Compliance Analytics – 2014 – Confidentiality: Public
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Leverage SWIFT traffic data to address risk
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We provide…
• Rich, accurate global dataset at
institutional and counterparty level
• Aggregated country data as a context
to your activity
• Packaged reports showing risk
concentration, behavioural anomalies,
and unusual patterns or trends
• Event-driven alerting
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Giving you…
• Better understanding of your evolving business context
• Single source of risk assessment for correspondent banking
• Ability to prioritise activities
• Proof of compliance with policies
• Ability to anticipate emerging trends
• Neutral third-party information management and reporting
Compliance Analytics features & benefits
Through
• Single web portal – zero footprint
• Interactive investigation tool
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• Enterprise risk assessment
• Correspondent risk assessment
• Alignment with risk policies
Risk
Assessment
• Compare anticipatory behaviour against country standards
• Periodic reviews to ensure activity is in line with anticipated risk
• Event driven reviews
• Retrospective reviews
Customer Due
Diligence
• FIU investigations
• Country visits
• Correspondent
reviews
Investigations
and visits
Transaction
monitoring
• Pre-calculated metrics
• Key Performance / Risk Indicators
Metrics and
dashboarding
• Volume reconciliation
• Scenario optimisation
• System tuning
Compliance Analytics will bring value to…
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Compare relative
distribution of
transactions by
value range
Track value range
evolution over time
Spot anomalies in correspondent behaviour
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Track RMA status
evolution over time
•Geographic
distribution of RMAs
Monitor correspondent relationships
•RMA relationships
in high-risk countries
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Monitor hidden payment flows & nested activity Identify countries of origin and destination, and which institutions are involved
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10
Ongoing
• Proof of concept testing with pilot banks
April 2014
• Open portal to selected pilots
• Launch announcement on April 29
June 2014
• Commercial launch of Compliance Analytics
Compliance Analytics – 2014 – Confidentiality: Public
Proof of concept External access Live access
Timeline Live in June 2014
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More info: www.swift.com/complianceanalytics
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Thank you