Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
Sanctions Testing
BENELUX Forum
Thomas Preston
March 2014
In a world of unprecedented complexity
and change:
• How can I be sure my screening solution works?
• How can I demonstrat...
Effectiveness
• Provide assurance assurance
• that your system works
• Measure system’s fuzzy
matching performance
• Asses...
Assessing your environment’s effectiveness
• Assurance that your systems work
• Measure your fuzzy matching performance
• ...
Formats
Settings
Lists
Automate • Repeat • Compare • Monitor
Sanctions Testing Process
Define
test objective
Download
test...
• Outdated lists
• Missing entry
types
• Missing entries
• Language
variants not
screened
correctly
• Deleted records
stil...
Upcoming SlideShare
Loading in …5
×

Benelux forum 2014 - Sanctions Testing

297 views

Published on

Presentation from the SWIFT Benelux Forum held in La Hulpe on 19/20 March 2014

Published in: Economy & Finance
  • Be the first to comment

Benelux forum 2014 - Sanctions Testing

  1. 1. Sanctions Testing BENELUX Forum Thomas Preston March 2014
  2. 2. In a world of unprecedented complexity and change: • How can I be sure my screening solution works? • How can I demonstrate I understand my solution and how it mitigates risks? • How can I make my screening solution more effective – and more efficient? Banks face a sanctions compliance challenge
  3. 3. Effectiveness • Provide assurance assurance • that your system works • Measure system’s fuzzy matching performance • Assess coverage of sanctions lists • Align screening system to your risk appetite Efficiency • Reduce false positives through iterative testing • Build optimisation tests into your processes Testing Meeting regulatory demands Tuning Managing cost and resources Sanctions compliance – balancing priorities with
  4. 4. Assessing your environment’s effectiveness • Assurance that your systems work • Measure your fuzzy matching performance • Assess coverage of sanctions lists • Align system with your risk appetite Improving your environment’s efficiency • Reduce false positives through iterative testing • Build optimisation tests into your processes • Develop testing & tuning framework in line needs All of this while maintaining full control over your systems, sanctions and assurance processes. 4 Address regulatory demands Manage cost concerns Sanctions Testing Benefits
  5. 5. Formats Settings Lists Automate • Repeat • Compare • Monitor Sanctions Testing Process Define test objective Download test objective Process test files Upload hit results View test results
  6. 6. • Outdated lists • Missing entry types • Missing entries • Language variants not screened correctly • Deleted records still screened • List scope • incorrect or not aligned with bank policy • Inconsistent implementation across filters • Entity and alias types screened unnecessarily • Inconsistent screening performance across message types • Message or file elements not screened properly • Overreliance on specific fields (e.g. address or country) • Poor fuzzy matching performance • Line break, word order, sequences • Poor performance against particular entries (short or long names, aliases) • Character set matching issues 6 Common issues identified through testing Sanctions Lists Quality Screening Policy Message Types Filter Weakness

×