Compliance on Demand/PCS
The Problem, The Challenge, The Opportunity
- Do you have a problem with too many false positive matches with your OFAC filtering (real-time or using BatchFilter) or too many alerts or cases in BSA from your Rules or Profiles?
- Are you are wrestling with some challenging aspect of the Prime Compliance Suite, trying to get it to perform the way you would like it to?
- Perhaps you need a level of support that you simply are not getting from the vendor, or their price points are simply too rich for you and the opportunity to resolve issues slips away.
- If these or other challenges have crossed your mind, the "Compliance on Demand/PCS" service may be right for you. We will provide critical assistance with all the most important needs specific to your Prime Compliance suite and more!
- Under an annual contract, you share a senior Prime resource with a couple other banks.
- You decide how many days you want, typically 1 or 2 days per week, which is totally up to you.
- You will be guaranteed a highly skilled Prime resource to assist with the issues/needs in your SOW for a fixed fee that gives you the comfort of support mechanisms second to none.
- Reconciliation of Customers, Accounts & Activity from Banking System(s) to PCS
- Review efficiency of Customer/Country Profile Monitoring
- Review efficiency of monitoring Rules, i.e. Rules Tuning
- Review EDD Risk Assessment, Factors, Items, Scores compared to peers
- Review Data Mapping
- Special Projects, Data Mining, Ad hoc Search Rules
- Review OFAC Sanction Data Rule settings, recommend filtering options
- Review efficiency of Batchfilter screening and provide recommendations
- Review OFAC cases, recommending and testing the addition of Noise Words, Inequalities and Excludes for False Positive Reduction
- Document OFAC Interfaces workflows if requested
- Review search requests/results
- Examination Preparation
- Notification of regulatory changes that apply to the bank
- Advisement on best practices when compared with bank peers
- Most clients view this as an insurance against what they don't know
- Advisor/Sounding Board for any compliance related issue
Contact David Martino to discuss your organization's needs »