FAQ: How do I benchmark AML/CFT compliance outcomes?

Applies to: Health Check

Question

How do I benchmark AML/CFT compliance outcomes in Health Check?

Answer

Using the data analyser

After completing the AML/CFT Health Check the data contained within the assessment is very rich, and the Data Analyser feature has been designed to provide meaningful insights into compliance data, to enable organisations to better understand, mitigate and manage AML/CFT risks.

There are a series of out-of-the-box reports that allow the results of AML/CFT Health Check to be analysed and compared by time period, by country and compared against prior assessments.

These reports are fully interactive and can be ‘filtered’ on a range of criteria and can also be ‘drilled’ through to reveal any underlying detail which is of interest. Big data analytics on AML/CFT compliance data has never been so easy.

Using the data analyser reports

The reports that are available out-of-the-box, include:

• Compliance Rating by Period (Year)
• Compliance Rating by Period (Month)
• Compliance Rating by Health Check
• Compliance Rating by Country
• Compliance Rating by Group
• Compliance Rating by Category

All of these out-of-the-box reports are delivered using the latest version of Microsoft’s SQL Server Reporting System (SSRS) a very powerful big data analytic toolset that provides deep insights into your data.

Want to further slice and dice AML/CFT compliance data?

Within each of the above reports the user can apply any combination of filters (including single or multi-pick), to analyse data in a variety of ways, including: 

• By time period (e.g. day, month or year range)
• By country
• By review type (e.g. full or expanded)
• By group (e.g. section of AML/CFT regulations)
• By industry
• By health check name (finalised only)
• By compliance rating

Drilling down from parent to child level reports

All of the out-of-the-box reports are constructed on a standard parent/child hierarchy, meaning that data can be “drilled” down on any particular point of interest.

For example, if the user is particularly interested in a specific section of the AML/CFT regulations, where a high proportion of non-compliant items were identified, they can simply click on the link within the pie chart (or the link on the table), which will automatically display the detail that makes up that section of the report.

Once the user has generated the view of interest they can “snapshot” this view into a PDF or word document, or simply return back to the parent level report and carry on viewing.

Compliance Rating by Time Period (Year or Month)

This report allows AML/CFT Health Checks to be compared against each other over different time periods (months or years).
This allows organisations to understand how AML/CFT compliance may have changed over time, which is useful for tracking improvements or identifying any areas of decline in AML/CFT compliance.

Compliance Rating by Health Check

This report allows AML/CFT Health Checks to be compared against each other, which could be used, for example, to compare AML/CFT compliance across different Operating Groups, Divisions or Product Lines.

Compliance Rating by Country

This report allows AML/CFT Health Checks that have been completed for different countries (based on domestic AML/CFT rules and guidelines) to be compared against each other.

Compliance Rating by Group

The term Group in the context of the AML/CFT Health Check means the main sections contained within the AML/CFT guidance (e.g. topic headings).

This report provides a compliance rating breakdown across every section (which can be filtered as required) of the AML/CFT regulations and helps organisations to understand the sections of the AML/CFT obligations where the additional focus may be required.

Compliance Rating by Category

The term Category in the context of the AML/CFT Health Check means the main sub-sections contained within the AML/CFT guidance (e.g. sub-headings).

This report provides a compliance rating breakdown across every section (which can be filtered as required) of the AML/CFT regulations and helps organisations to understand the sections of the AML/CFT obligations where the additional focus may be required.