Proactive compliance monitoring programs are becoming increasing important to mitigate the risks and fallout associated with rising regulatory enforcement. It’s important to note that these programs can be implemented without significant resources or investment in new tools. With the right planning and expertise, a company’s existing data and systems can be used to incorporate data analytics and communications monitoring into any compliance program.
Download our report from the ABA Spring Meeting to learn:
- The need for risk assessments at the outset of a new program design and best practices for conducting them.
- Key considerations when mapping and inventorying data sources that will need to be monitored.
- How and why to pilot a program focused on only one risk-type or business unit.
- A step-by-step overview for incorporating data and analytics into a financial and operational monitoring process.
- Tips to follow and gotchas to watch for when fine tuning analytics models.
- How communications monitoring fits into the broader compliance program and how analytics can be leveraged to detect suspicious or non-compliant patterns across all messaging and communications channels.
- How to test, audit and respond to outputs from compliance monitoring solutions.