AML: Reduce the Time Spent Screening Politically Exposed Persons (PEPs)

transcript

REDUCE THE TIME SPENT SCREENING PEPS

WEBINAR

PRESENTERS:

Jeff Woods Head of Risk Specialty SalesThomson Reuters

Andrew Simpson Chief Operating Officer CaseWare Analytics

AGENDA

1. PEPs are a growing problem2. Today, you have to do more with less3. How can my PEP screening get more efficient?4. Q & A

PEPS ARE A GROWING PROBLEM

• Each profile within World-Check represents only a single individual or entity. There is only one profile for each individual or entity.

PEPS ARE A GROWING PROBLEM

• Each profile within World-Check represents only a single individual or entity. There is only one profile for each individual or entity.• For example, Hassan Abdullah Hersi Al-Turki (UID: 233012) is

listed on 49 different government lists, but is only listed in World-Check as a single profile.

PEP IS A GROWING PROBLEM

• Each profile within World-Check represents only a single individual or entity. There is only one profile for each individual or entity.• For example, Hassan Abdullah Hersi Al-Turki (UID: 233012) is

listed on 49 different government lists, but is only listed in World-Check as a single profile.• De-duplication is a critical competitive advantage as it

greatly decreases remediation efforts and simplifies match validation. Each match a user gets against World-Check data is a unique individual or entity.

DE-DUPLICATION

• De-duplication significantly reduces the number of record that need to be screened

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DE-DUPLICATION

• De-duplication significantly reduces the number of record that need to be screened.• For Sanctions compliance, this

can reduce workloads by well over 50%

Raw Deduplicated0

TotalUNSECOUKHMTOFACDFATCANS

FIELDS IN WORLD-CHECK DATA

Visit https://www.casewareanalytics.com/events/webinar-reduce-time-spent-screening-politically-exposed-persons

to listen to the full webinar and see the different fields and categories that are available in the World-Check Data.

INDIVIDUALS IN WORLD-CHECK

• Over half of the World-Check Profiles fall into the INDIVIDUAL category.

• Over half of the World-Check Profiles fall into the INDIVIDUAL category. • Inclusion criteria for INDIVIDUAL profiles are:

• Person accused, investigated, arrested, charged, indicted, detained, questioned, or on trial for World-Check related crimes, but not yet convicted

• Individual appointed to a PEP position (as opposed to elected)

• Over Half of the World-Check Profiles fall into the INDIVIDUAL category. • Inclusion criteria for INDIVIDUAL profiles are:

• Individual appointed to a PEP position (as opposed to elected)• Individual appearing on a regulatory, law enforcement, or global

sanctions watch list such as OFAC

• Individual appointed to a PEP position (as opposed to elected)• Individual appearing on a regulatory, law enforcement, or global

sanctions watch list such as OFAC• Immediate relative or close associate of primary PEPs

PEP SUB-CATEGORIES

Visit https://www.casewareanalytics.com/events/webinar-reduce-time-spent-screening-politically-exposed-persons to listen to the full webinar and see the PEP sub-categories available in the World-

Check Data.

PROFILE TRENDS IN WORLD-CHECK

to listen to the full webinar and see the profile trends in World-Check Data.

Jacob Zuma3664

Nkosazana Clarice Dlamini Zuma3645

Michael Hulley1261867

Sonono Khoza1261867Thobeca Stacy Mabhija

773929

Nonkululeko Mhlongo1220372

Shabir Shaik12156

African National Congress118120

Gloria Bongi Ngema1269357

Duduzane Zuma781364

Duduzile Zuma777069Gugu Zuma

781362

Manqoba Kholwani Zuma1310619

Mantuli Zuma773928Michael Zuma

1683824

Msholozi Zuma781363

Nhlakanipho Vusi Zuma781356

Phumzile Zuma781357

Saady Zuma781358

Sinqobile Zuma770070

Sinqumo Zuma1269364

Sizakele Gertrude Zuma98703

Thandekile Matina Zuma1212272

Thandisiwe Zuma777071

Thuli Zuma781361

Thuthu Zuma781360

WORLD-CHECK LINKS & NETWORKS

Stephen Ames Freeman549028

Yusik Baskin760639

John Colao760640

Bella Itkina760641

Stanley Looman549037

Inna Maltseva760643

Marta Poisik760642

Eduardo Raschkovsky1176646

Fernando Melciades Zevallos Gonzales44395

Air Sweden AVV760638

Air Ventures AVV729457

Freeman, Haber, Rojas & Stanham760649

International Airlines Investors LTD729455

Interstar Aviation549011

Jet Aircraft Leasing549013

Millenium Acquisition549006Palm Air Holding

549036SkyAviation AVV

729456

HIDDEN RISKS IN WORLD-CHECK

AGENDA

1. PEP is a growing problem2. Today, you have to do more with less3. How can my PEP screening get more efficient?4. Q & A

DOING MORE WITH LESS

• We are in a time of cost cutting

• We are in a time of cost cutting• 88% of Firms Planning Cost Cuts in Next 2 Years

• A Deloitte survey finds some cost-cutting is more typical of distressed companies than a ‘save to grow’ strategy.

• (Matthew Heller April 28, 2016)

• We are in a time of cost cutting• 88% of Firms Planning Cost Cuts in Next 2 Years

• A Deloitte survey finds some cost-cutting is more typical of distressed companies than a ‘save to grow’ strategy.

• (Matthew Heller April 28, 2016)

• CITI: The ‘Uber moment’ for banks is coming – and more than a million people could lose their jobs• (Portia Crowe March 30, 2016)

NEW HIRING IS VERY SLOW

AGENDA

1. PEP is a growing problem2. Today, you have to do more with less3. How can my PEP screening get more efficient?4. Q & A

WHY PEP RISK SCORING PROCESS?

• In an ideal world, your compliance team would spend the most time screening and continually monitoring the highest risk PEPs in your system

PEP RISK SCORING PROCESS REALITY

• In reality, due to sheer volumes, many compliance teams spend the most time screening and continually monitoring the lowest risk PEPs in their system

PEP scoring can change how you spend your time

BUILDING PEP RISK SCORING MODEL

to listen to the full webinar and learn how to build and optimize your PEP risk scoring model.

THE BROADER AML PROGRAM:

Andrew Simpson Chief Operating Officer CaseWare Analytics

AGENDAUSE IN A BROADER AML CONTEXT

1. Automation options

2. Real time integration

3. Influencing risk scoring

4. Workflow & case management

5. Visualizations and dashboards

AUTOMATION OPTIONS

• Periodic screening• Real time transaction screening

REAL TIME INTEGRATION

RISK SCORING

• Incorporate Sanctions hit score in overall customer risk score• Other risk scoring sources:

• Transaction monitoring • Regulatory reporting (e.g. SARs)• Onboarding process

WORKFLOW & CASE MANAGEMENT

• Engaging all stakeholders• Documenting false positives• Adaptive workflows that learn• Identifying root cause • Capturing input to tune algorithms

WORKFLOW & CASE MANAGEMENT

DASHBOARDS

QUESTIONS

casewareanalytics.comrisk.thomsonreuters.com

aml@caseware.com

REDUCE THE TIME SPENT SCREENING PEPS

WEBINAR

AML: Reduce the Time Spent Screening Politically Exposed Persons (PEPs)

Data & Analytics