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Lloyds Insurance Seminar

Lloyds Insurance Seminar. Don Marsh – Senior Executive, Oracle Watchlist Screening 29 th February 2011. Awkward Questions. Isn’t that the Guy from Datanomic? What do Oracle know about Compliance Screening?. Who screens with Oracle WLS?. Automated Watchlist Screening – What is it ?.

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Lloyds Insurance Seminar

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  1. Lloyds Insurance Seminar Don Marsh – Senior Executive, Oracle Watchlist Screening 29th February 2011

  2. Awkward Questions • Isn’t that the Guy from Datanomic? • What do Oracle know about Compliance Screening?

  3. Who screens with Oracle WLS?

  4. Automated Watchlist Screening – What is it ?

  5. Automated Watchlist Screening - Why it Matters “It’s hard to understand how a firm can achieve its compliance obligations without ongoing screening of its customers on a frequent basis” Financial services firms’ approach to UK financial sanctions

  6. What Happens if it Goes Wrong?

  7. What Happens if it Goes Wrong? • Substantial fines and penalties against • Companies • Individuals within companies • Lloyds TSB $350m • CSFB $536m • Aon £5.25m • ANZ $7m • ABN $500m • UBS $100m • Willis £6.9m • etc.... • Brand damage and loss of reputation

  8. What Happens if it Goes Wrong? • Substantial fines and penalties against • Companies • Individuals within companies • Lloyds TSB $350m • CSFB $536m • Aon £5.25m • ANZ $7m • ABN $500m • UBS $100m • Willis £6.9m • etc.... • Brand damage and loss of reputation

  9. What Happens if it Goes Wrong? • Substantial fines and penalties against • Companies • Individuals within companies • Lloyds TSB $350m • CSFB $536m • Aon £5.25m • ANZ $7m • ABN $500m • UBS $100m • Willis £6.9m • etc.... • Brand damage and loss of reputation

  10. What Happens if it Goes Wrong? • Substantial fines and penalties against • Companies • Individuals within companies • Lloyds TSB $350m • CSFB $536m • Aon £5.25m • ANZ $7m • ABN $500m • UBS $100m • Willis £6.9m • etc.... • Brand damage and loss of reputation

  11. It’s all about the Data...

  12. Watchlist Data is Complex Approx 300,000 names just on US OFAC list...

  13. Watchlist Data is Complex 19 Aliases and 4 Locations ‘Simple’ matching is not enough 10 Aliases and 2 Date of Births

  14. Customer Information is Complex • Watchlist and customer data entries often include inconsistencies, inaccuracies or are incomplete • Screening against data that is not fit for purpose reduces screening accuracy, increasing risks and costs

  15. Unstructured Data Presents Screening Challenges

  16. Parsing Names from Unstructured Name and Address Fields

  17. Parsing and Enriching Location Data

  18. Screen Data That Is ‘Fit For Purpose’

  19. Who is Donald Mackenzie?

  20. Lloyds Insurance Seminar Don Marsh – Senior Executive, Oracle Watchlist Screening 29th February 2011

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