avoiding compliance pitfalls
TRANSCRIPT
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
