SQA Data Profiler
Ensuring that a firm’s data is fit for purpose is critical to the efficacy of any screening and/or monitoring system. The SQA Data Profiler is a powerful data analysis tool that automates the process of analyzing both data quality and data completeness. Unlike the typical data sampling approach, the Profiler looks at every field in every record of an entire data set; while being completely agnostic to the source system and/or the data format. Also, when coupled with SQA’s Country, Town, Region, and Port list (CTRP list), the Profiler is able to identify and/or confirm the country that best corresponds to the address information within the data set being analyzed. The SQA Data Profiler has been built specifically for financial crime compliance and has functionality for all of the types of data that are critical to FCC objectives.
SQA Sanction Assessment Center
A critical component of SQAAC’s screening assurance testing is the SQA Sanctions Assessment Center (SAC). The SAC is an automated tool that provides for easy and rapid creation of comprehensive test files that can be processed through any screening system. The objective of testing a screening system with a synthetic file is to prove that the screening system is accurate, effective, and efficient. To accomplish this, SAC is able to collect and compile test data from any published and/or internal watch list that is relevant to a firm’s screening process. From the compiled data, SAC automatically builds a test file that can then be processed through any customer and/or payments screening system. Once the test file has been processed, SAC analyzes the results and is able to assess the accuracy, effectiveness and efficiency of the filter’s performance. The SAC has also proven to be extremely effective for ongoing optimization and tuning of a firm’s screening system by identifying the system settings that meet both the risk and business requirements of the firm.
SQA AML Assessment Center
The SQA AML Assessment Center (AAC) is an extremely powerful tool that is very similar in form and function to the SAC
in that it provides for rapid creation of comprehensive test files. Instead of a “point in time” test file, the test file created by the AAC can contain hundreds of thousands to millions of
transactions that may span a period of several months. ACC creates both incoming and outgoing payment records that contain fictional customer and account information that align with products
offered by the bank. The “fictional transactions” are structured and organized within the test file to represent all applicable AML scenarios that should trigger detection within the bank’s
transaction monitoring system. The test file is provided to the bank’s transaction monitoring system owner to be processed in a batch format. Upon completion of the batch process,
automated analysis is performed by the AAC on different types of matches.