A well-known community bank based in the US, offering loan servicing, finance and accounting, retail banking, electronic banking, and other services.

• 31 CFR Chapter X-related leakages identified in CTR & SAR filing
• Legal and operational risks with potential reputational implications
• Minimal cross-functional coordination

Consultative BSA/AML-focused risk mitigation program for determining critical risk patterns and factors. The solution approach addressed compliance issues by leveraging the High-Risk Categorization (HRC) methodology. Proprietary Digital Knowledge Operations (DKO)™ framework enabled data validation and process automation.

Key solution delivered

• Requisite controls to ensure a robust data governance model
• Data validation optimization to mitigate the potential risks
• Consultative deployment of the standard quality audit model to eliminate oversight risks
• Comprehensive High-Risk Customer categorization documentation
•  Highlighting of risks associated with delayed EDD review/SAR filings

• Enterprise-wide compliance to mitigate financial penalties and reputational risk
• Safeguard against nefarious individuals and entities from exploiting the system
• Continuance in planned growth and expansion prospects