Alerts Based on Risk

Posted By: Q

Alerts Based on Risk - 01/21/21 11:02 PM

Has anyone had an examiner question or push for alert thresholds to be based on risk? With different thresholds for each risk category so low risk customers would have one set of parameters for cash activity compared to moderate risk customers?
Posted By: JackieW

Re: Alerts Based on Risk - 01/26/21 05:54 PM

I have heard of that being requested if the automated transaction monitoring system has such functionality/alerting.
Posted By: Paul

Re: Alerts Based on Risk - 02/04/21 04:50 PM

In a past institutions, I had two sets of thresholds one for High Risk Customers and one set for non High Risk Customers; our examiner loved it. Currently we add 10 points to the risk score of all alerts for High Risk customers.
Posted By: osucpa

Re: Alerts Based on Risk - 02/04/21 07:34 PM

Yes we use different thresholds based on risk. Some of this could depend on what monitoring system you are using.