How to Use Big Data for an AML/AB&C Compliance and Risk Mitigation

Why Should You Attend:

Data is everywhere. From complex general ledger accounting systems to network security and social media, it is the all-encompassing backbone of corporate America. Big data is no longer a phenomenon but a vastly expanding data footprint in our everyday course of business. This data footprint is at the core of most regulatory matters, investigations and complex business issues

The forensic usage of data for AML/ CFT compliance reviews cannot exist in a vacuum. Information has relevance and this relevance needs to be communicated and understood across all business lines. The data after processing must be used as a force for AML Program improvement.

As professionals we are not only responsible for an in depth knowledge of KYC issues but we are also need to have a working knowledge of KYD – Know your Data and how his data can affect such program enhancement.

This webinar will discuss how analysis of big data can be used as an important tool in AML and AB&C compliance overview and help in risk mitigation.

Learning Objectives:

• Structure of a compliance review and the usage of information informing upon this review.
• Fundamental big data concepts, principles, toolsets used and challenges.
• Qualitative and quantitative information types used in such a review.
• Overview of data analytics, business intelligence and analytics tools.
• Life Cycle approach- Analysis influencing strategic decision management capabilities in terms of risk mitigation.

Areas Covered in the Webinar:

• The Big Data Concept.
• The 3 V’s of Big data.
• Challenges of Big data.
• Principles and usage of Big Data – Hardoop, Oracle, SAS as examples of Big Data and Analytics tools.
• What is a Compliance review?
• Review of Information data types.
• The qualitative nature of Documentary information?
• Policies and Controls of a Financial Institution compared to Regulatory National and international standards.
• Various Data sets - Transactional, KYC and more.
• Unstructured data management.
• Overview of data analytics and business intelligence.
• Analytics tools.
• Forensic data analytics via the Data Analytics Life Cycle – focus on Data Quality, Data Cleansing, Sampling, filtering, analysis, Insights, actions and value outputs.
• Structured Output in a Dashboard Format.
• Editable reporting requirements to the Board and/or regulators.
• Reporting as a means of AML Program enhancement with respect to risk mitigation.

Who Will Benefit:

• Data Analysts
• Consultants
• Managers
• Directors
• MLRO/ CO
• Head of Risk/ Compliance
• BSA / AML Officers
• Internal Auditors
• Staff with roles and responsibilities in BSA / AML management and oversight
• Corporate Audit

Instructor Profile:

Shaun Miller has an in-depth knowledge of financial crime technologies (AML / KYC / CDD, Sanctions, Fraud) acquired in Tier 1 international financial institutions.

Mr. Miller has international experience working in AML remediation projects, external audit, financial crime projects in global banking. he has delivered AML/ CFT training and has implemented suspicious activity reporting procedures in Ireland, UK and Sweden.

Mr. Miller was a key player in audit/sanctions / PEP assessment projects in Tier 1 banks in New York, UK, Hong Kong and Ireland.

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