Similar to our AML compliance services, all of our AML technical services focus more heavily on your AML software – the system itself, the rules or thresholds you’re using, and test servers. It’s important to understand the capabilities and limitations of your software solution.
We recognize that there is no one size fits all approach, but there is a best practice. With that in mind, we’ve compiled a list of technical services that we see most often among financial institutions responsible for AML compliance.
|Data Mining: Analysis and Correction
Our experienced technical resources can help you with your data mining, analysis, and correction projects, and provide quality documentation that you can use internally or for your regulator.
|Functional Requirements Documentation
We can you help design and document all of your anti-money laundering custom, proprietary or technical functional requirements for your implementation and upgrade.
With our experience on a broad range of anti-money laundering software products, we can lead or assist your IT department on an upgrade or implementation of most anti- money laundering software programs. Learn More . . .
|Independent Verification and Validation (IVV) / Model Validation
An Independent Verification and Validation (IVV) or model validation will provide a full analysis from source data to case generation (End to End) to ensure your AML, OFAC, CDD/KYC and/or FinCEN 314(a) prorgram is working correctly. Learn More . . .
We can provide your staff training on the anti-money laundering software your team is using, including BSA, OFAC, CDD/KYC and FinCEN 314(a) software.
|Regulatory Remediation Services
Our team has extensive experience in remediating issues found in a regulatory exam, specifically documenting methodologies and results for the regulators. Such services could also include a False Positive Exercise, Product Training, Testing, Statistical Data Analysis, Data Mining and more. Learn More . . .
|Rules/Risk Rating/Profiling: Statistical Data Analysis
We analyze thresholds and provide a mathematical analysis that will provide additional business intelligence on your compliance technology and program.
We provide comprehensive testing on your anti-money laundering software programs, OFAC, CDD/KYC and FinCEN 314(a) software. This is most commonly utilized for the implementation of new features, interface changes or upgrades. Learn More . . .
|Tuning and False Positive Exercise
ARC Risk and Compliance provides a powerful methodology that will minimize risk and reduce workload allowing you to focus staff on more critical tasks through tuning your AML software and reducing false positives where they exist. Learn More . . .
Contact Us for more information