compliance analytics
DESCRIPTION
Presentation from SWIFT Compliance Day 2014 in FrankfurtTRANSCRIPT
Compliance Analytics Germany compliance forum
Geertjan van Bochove, Manager Business Intelligence EMEA
June 2014
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
Introducing
Compliance Analytics
from SWIFT
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Leverage SWIFT traffic data to address risk
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
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
More info: www.swift.com/complianceanalytics
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Thank you