avoiding compliance pitfalls

Unlocking the value of your information asset

AVOIDING COMPLIANCE PITFALLS

Gary AllemannMaster Data Management

@mdm_za

AML Penalties

Avoiding compliance pitfalls • establish data management system • conduct organisational screening against legislations • report suspicious activity • establish customer due diligence systems Gary Allemann, Managing Director - Master Data

Primary Failings

• Deficiencies in identifying and verifying customer’s detail

• Failures in sanctions screening

• Failures to report qualifying transaction

Reputational and customer impact

Reputational and customer impact

Data is the raw material and product of process

The Building Blocks for effective EIM

Data Architecture

Metadata/Data Modelling

Data Security

Data Integration

MDM

/Ref

eren

ce D

ata

Data

Qua

lity

Data

Gov

erna

nce

Anal

ytics

Data

War

ehou

se

Big

Data

Busin

ess

Inte

llige

nce

BusinessDriven

IT Driven

How does EIM support AML + Fraud?• What are our AML Data Policies?• Who is responsible?• How do we ensure traceability?• What are the Critical Data Elements?

1. Data Governance

• What are the minimum data standards for Critical AML Data Elements?• Name• Physical Address• Identification• Residence / Nationality• Date of Birth

Data Quality

• How do we identify unique customers?

• How do we screen against sanctions lists?

3 Master Data Management

• How do we flag and report suspicious transactions?

• How do we measure and track remedial actions?

Business Intelligence

gary@masterdata.co.za

+27 11 485 4856

@mdm_za

http://www.linkedin.com/company/master-data-management