I need to speak with anyone who uses GlobalVision's Patriot Officer AML system that are OCC regulated.
The OCC is telling me that we should run our High Risk customers against rules with LOWER thresholds - and I am trying to determine the best way to accomplish this within Patriot Officer but not create garbage / false positives!
Thanks - please message me here if can help!!
Make sure you document what your institution considers high risk. I'd caution against letting any risk scoring mechanism make a customer automatically high risk.
With that being said, we've done this with PO for certain "higher risk" customer types. Logistically, it's not that difficult if you have generally complete and accurate data. The important thing is to do some research to ensure you set appropriate thresholds.
As others have said, it may be useful to have an external auditor perform a data validation and possibly assist you with setting up the right rules.
If that's not in the budget, then you'll need to do the legwork yourself - which is beyond the scope of what Patriot Officer does within
the program. If anyone in your department is tech-savvy enough to set up ODBC drivers and write SQL queries, have a go at it. Otherwise, you'll probably need your IT team involved.
Feel free to PM me for further details...