Regulations require financial institutions to establish compliance programs with internal policies, procedures, controls, training and audit functions. Firms comply with those requirements by a combination of expensive data-intensive technologies and vast human resources.
Well-tuned alert generation and risk models demonstrate good compliance practices to regulators and internal auditors. How do you explain each threshold value in terms of data characteristics. Is your selection of alerts driven by applicable regulations and policies?
Compliance must be regulation-driven and risk based. A smart sense of objectivity is needed in designing and implementing the risk formulas to ensure the process looks back to prevent recurrences of known problems as well as forward looking to prevent and detect unknown and undesired possibilities.
Only attentive development of custom detection models can satisfy specific criteria and regulations.
- Exprentis releases a 2012 version of its website and improves its presence on social networking sites.
- Exprentis starts a new contract with a west coast retail bank to tune their fraudulent behavior detection models.
- A major national brokerage and investment advisory services firm selects Exprentis to help them with improvements of its Trading and AML Compliance platform.
- Exprentis completes STTR Phase IIA project sponsored by National Science Foundation and it includes a WWW RIF adapter in its Regulatory Compliance Assistant version 1.2.0.