D&B onboard.pdf
- 1. D&B Onboard Understanding and speaking to the value of our Compliance capabilities INTERNAL USE ONLY
- 2. It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently. WARREN BUFFET
- 3. 3 Much of Regulatory Compliance is all about the Data... – What you know, – What you’re told, – What you can verify, and – What you can monitor Companies can’t simply rely on paper-thin assurances by employees, distributors or customers. Chief of the SEC Enforcement Division’s Foreign Corrupt Practices Unit INTERNAL USE ONLY
- 4. 4 The regulatory landscape is becoming increasingly more complex and diverse. An increasing convergence of regulations govern how and with whom you do business globally Global Focus on Sanctions and Export Controls OFAC 50% Rule • UN and EU Sanctions Anti-Money Laundering and the Bank Secrecy Act 4th EU AML Directive • FinCEN Final Rule Data Governance & Financial Regulations FATCA/CRS • Solvency II • Basel III Anti-Corruption Laws and Regulations FCPA • UKBA • CFPOA Environmental, Social, Governance Regulations UK Modern Slavery Act • RoHS Directive •WEEE Directive Global Focus on Supplier Management FAR Regulations Of CPOs feel that regulatory concerns are the #1 issue they are facing. (SCM World Future of Supply Chain Survey, 2015) The most challenging aspect of an organization’s compliance program is managing third-party compliance risk. Global spending on AML compliance is set to grown to more than $8 billion by 2017. 46% #1 >$8B 110% Increase in the number of regulations enacted since 2000 vs. previous century INTERNAL USE ONLY
- 5. 5 What does bad data cost organizations today? INTERNAL USE ONLY 50% of the total operations time that operational risk professionals waste in hunting for data, finding and correcting errors, & searching for confirmatory sources for data they don’t trust. The average number of duplicate or redundant suppliers for a 100k supplier base can be from 10% up to 30% including inactive vendors 75% of total AML cost associated with bad data management. The average total cost of ownership (TCO) to source & onboard a supplier, transact with it & manage the relationship on an ongoing basis is $925 Financial firms are spending up to $500 million on KYC/Customer Due Diligence (CDD) compliance. With the new Beneficial Ownership requirements, this number will increase The poor quality data cost companies $3.1 trillion in the U.S. alone, in 2016. More than 25% of critical data within large businesses is somehow inaccurate or incomplete Poor MDM data quality costs the typical company up to 30% of revenue
- 6. 6 The Data Details INTERNAL USE ONLY Principals / Key Execs Beneficial Owners Industry Classifications Firmographics (Age, Size, Financials, Decisions, Ownership, Market, etc.) Commercial Entity Identifying Data •Uniquely identify the entity – who it is and identifying risk associated Geo Location Corporate Hierarchy & Linkage Diverse Businesses Trade Coverage Proprietary Entity Identifier Public Filings Watchlists State Owned Entities Macroeconomic Indicators
- 7. Dun & Bradstreet leverages world class data and analytics to provide you with deeper insight into who you are doing business with, whether it’s a customer, supplier, distributor or third party INTERNAL USE ONLY Why Dun & Bradstreet for Supply & Compliance?
- 8. R E P U TAT I O N A L & B R A N D P ROT E C T I O N Supplier Intelligence Ethical & Responsible Sourcing FCPA Anti-bribery & Sanctions D&B MASTER DATA KnowYour Customer & Anti-money Laundering R E D U C E C O S T S M I T I G AT E R I S K AC C E L E R AT E D U E D I L L I G E N C E T H I R D - P A R T Y R I S K & C U S T O M E R M A N A G E M E N T S T R A T E G Y M O N I T O R I N G & A L E R T S A D V A N C E D A N A L Y T I C S O N B O A R D I N G & S C R E E N I N G
- 9. 9 Tax Reporting Third party Due-Diligence Customer Due-Diligence We support our clients to reduce their regulatory burden in 4 focus areas Global Compliance Dataset Data Governance CONFIDENTIAL COMPLIANCE LINE OF BUSINESS
- 10. 10 Our data and technology is supporting our customers to build robust compliance programs and cultures § Entity Resolution § Aggregated risk calculation § Concordance § Classification § Form Capture § Reporting § Entity verification § UBO & Principal identification § Monitoring & Workflow Management § Watch list screening § PEP Identification § Adverse media & Corporate litigation § Open source searching CONFIDENTIAL COMPLIANCE LINE OF BUSINESS Global Compliance Dataset
- 11. 11 Most customer workflows include some level of each of these core elements Identify • Identify the specific customer that is being enquired upon Verify • Verify a set of data against that business based on Risk based approach Enrich • Establish ownership of business and determine Ultimate Beneficial Owners Screen • Screen entities against sanctions list Monitor • Monitor for changes to ensure continued compliance Audit • Demonstrate adherence to policy for each case
- 12. D&B Onboard Real time verification and screening tool that connects the right global data insight,to meet customer due diligence objectives.
- 13. 13 D&B Onboard Introduction D&B Compliance Solutions WHAT? HOW? WHY? D&B Onboard is an online solution enabling you to carry out your Customer/Vendor Due Diligence, Verification & Screening processes faster with the right data insight, on a global scale, in one place. Onboard blends together D&B global business data and insight on over 300 million records that are updated 1.5 million times over 30,000 sources each day, providing you with the information you need to confidently identify and manage target entities. Additionally, through our partner, the Regulatory Data Corp, we can support screening of the business and individuals against Sanctions, PEP lists and adverse media. This is essential since you need to make the most efficient use of your time, so you can drive a consistent & confident approach to your due diligence processes, while managing tight deadlines from your end users.
- 14. 14 • How can I verify the authenticity of the information that my client/vendor has sent me? • How do I shorten the time it takes to onboard a client? • How can I ensure regulatory Compliance when identifying Ultimate Beneficial Owners? • How can I quickly identify potential Regulatory or Brand Risks if I engage with a new customer/supplier? • How can I store this data for transparency and reuse, ensuring I have a picture of my entire engagement with a client? • How do I keep my client data fresh so I am acting on the latest information? COMPLIANCE LINE OF BUISNESS D&B Onboard Continuous Risk Assessment Identify Verify & Enrich Establish Ownership Screen Conflict Check Report & Audit Review & Monitor
- 15. 15 Many businesses are unable to conduct due diligence efficiently and din it difficult to: Verify: Know if a business and its principals are who they say they are. Screen: Consolidate information from hundreds of adverse databases in order to conduct a thorough evaluation and make informed compliance decisions. Digitally Document: Respond quickly to auditors and regulators to demonstrate due diligence was performed. Customer Pain Points D&B Onboard facilitates compliance decision making in three steps: Verify potential business partners: Validate business identity against D&B global database of over 300 million businesses to determine if it is accurately representing itself. Screen businesses and principals: Evaluate confirmed business and named individuals by searching over 18 million records matched to PEPs, watch and sanctions lists, adverse media and regulatory actions. Document your compliance process: Electronically store and archive your due diligence results, including a breadcrumb audit trail, user-entered notes, snapshots of reports used and time, date and user stamped activity Product Overview D&B Onboard Avoid compliance threats with comprehensive due diligence D&B Onboard is a verification and screening tool that connects the right global data insight, to meet customer due diligence objectives Value Proposition Supply and Compliance with D&B Workshop - INTERNAL USE ONLY
- 16. 16 Connect the right global data insight,to meet customer due diligence objectives Client Tasks Onboard Capabilities Benefits Compliance function • Compliance Officers are required to undertake enquiries, complete and Maintain Records, track name changes, transfers of interest, changes in structure • Evaluate AML risk, Provide Authorisation • Ensure CDD carried out in line with AML regulations • Set Company Guidelines, Policies • Act as a second line of defence Business Line officers • Analyse entities/ individuals for client advisory purposes • Make decisions in line with internal compliance rules and regulation • Act as the first line of defence for AML and implementing KYC Match & Search Reports & Documents Help Meet Regulation Reduce Risk • Product/ Service risk • Delivery channel risk (remote customers) • Manage jurisdiction risk • Identify the legal structure • Understand entity financial risk profile • Identify the individuals behind the entity • Identify Politically Exposed Persons • Identify entities under sanctions list • Enhance monitoring capabilities • Write more informed Suspicious Activity Reports (SAR’s) • Electronic and Secure record keeping for Internal Reporting process Implementation of CDD Process Other • Data Management • Improve Speed in Risk identification • Better use of internal resources • Brand Preservation • Better investment decisions Sanctions, PEP’s & Media Screening Alerts Portfolio Snapshots Investigations Identify, Verify, Enrich, Screen, Monitor, Audit Compliance Data Set Internal Use Only INTERNAL USE ONLY
- 17. KnowYour - Customer Due Diligence for Asia Compliance (CDD/ Onboard) INTERNAL USE ONLY
- 18. 18 What is Customer Due Diligence (CDD) INTERNAL USE ONLY “Customer Due Diligence means taking steps to identify your customers and checking they are who they say they are” -UK Government
- 19. 19 Tax Reporting Third party due-diligence Customer due-diligence Customers need to reduce their regulatory burden and deliver growth via their Customer Due-Diligence programs INTERNAL USE ONLY Global Compliance Dataset Data Governance Delivery • APP • API • Batch
- 20. 20 CDD in Context: Crime has already taken place INTERNAL USE ONLY Our focus
- 21. 21 INTERNAL USE ONLY Financial and Credit Institutions Legal professionals Logistics, Mobile & Retail Bookmaker Government Agency, Education Broker Dealers Trust or Company Service Providers Manufacturing Accountants, Tax Advisors Auditors, Insolvency Practitioners • Money Laundering Reporting Officer • AML (Senior) KYC Analyst/ Officer • Fraud Manager • Chief Compliance Officer • Compliance Officer • Operational Compliance Officers • CDD File Reviewer • Investigative Officers • Credit Control Analyst • Procurement Officers • Knowledge Managers • Information Researchers • Business Line Analysts/ Associates • Cross Business Officers and Managers • Auditor Managers/ Officers Customer Due Diligence Oil & Gas Cards & Payment Services Internal Use On
- 22. 22 CDD Panorama Content Content Technology Product Client Service Client Types Client Technology Client Roles Client Outcomes Global Data 260+ m entities DUNS #ID Entity Matching Corporate Linkages Beneficial Ownership Watch lists/ Sanctions lists PEP’s & Adverse Media Local Sources DB’s Global Sources DB GSRL7/5 World base Ownership ATLAS Strategy CDP Use Cases Competitor Intelligence Business Requirements Vision, Mission, Goal Application Direct API Entitlements Roadmap Strategy QA support Release Cycle Proposition Commercials Content Priorities Screening tool Marketing Train the Trainer UX/ UI Design Service Setup Billing Client Training Account Management Query Handling API connectivity User ID and PWD Financial and Credit Institutions Legal professionals Auditors, Insolvency Practitioners Accountants Tax Advisors Manufacturing Trust or Company Service Providers Broker Dealers Government Agency Education Logistics, Mobile & Retail Bookmaker End User, PC, Web Internal Platform Third Party Platform File delivery Money Laundering Reporting Officer Fraud Manager AML (Senior) KYC Analyst/ Officer Compliance Officer CDD File Reviewer Chief Compliance Officer Investigative Officers Credit Control Analyst Procurement Officers Knowledge Managers Information Researchers Business Line Analysts/ Associates Audit team members Cross Business Officers and Managers Meet Regulation Manage Inspections -Data Security Reduce Risk -Product/ Service -Delivery channel risk -Jurisdiction Identify -Legal structure -Individuals -PEP -Sanctions -Financial risk Write Reports CDD Process Training Data Management Faster responses Better use of internal resources Brand Preservation Thought Leadership INTERNAL USE ONLY
- 23. 23 Know your customers INTERNAL USE ONLY
- 24. 24 Onboard supports CDD & Corporate objectives INTERNAL USE ONLY Ongoing Screening and Monitoring Smoothly Onboard New Entities Client Experience Refresh Existing Records Cost Savings Quicker time to revenue Cross Sales Water Tight Compliance Increase Efficiency Corporate Objectives Onboarding Objectives - Customer Due Diligence Risk Based Approach Standard CDD Simplified CDD Enhanced CDD
- 25. 25 The key concerns a CCO faces AVOID REGULATORY INVESTIGATIONS OR PENALTIES SUPPORT GROWTH WITHOUT COMPROMISING COMPLIANCE MANAGE DISPARATE SOURCES OF INFORMATION AND DATA ACCURACY OVERCOME LACK OF RESOURCES OWINGTO HIGH PROCESSING TIME INTERNAL USE ONLY Thought Leadership
- 26. 26 Data – what we provide today INTERNAL USE ONLY 300+ million legal entities Public and Private Companies Over 5 million daily updates 75 – 125 Million updates monthly 5 Year historical company financials Linkages: 17+ million active records are legally linked as part of a corporate hierarchy/ 2.4 million records have alternative linkage Ownership down to 0.1% Corporate family tree UBO Identity and Firmographic Business Name, Address, Phone Number, Contact Name, Employee Number, Sales Volume, Line of Business Actual Company Accounts, UK&I Other: Events: ISO and Case Reference Predictive Scores, Trade Payments Data Transparency International Sanctions/ PEP/ Adverse Media
- 27. 27 The data mapped to use cases: Financial Services INTERNAL USE ONLY Chief Compliance Officer •Oversight and management of the overall compliance framework for, and delivery of compliance support. •Overseeing the effective and proactive delivery of compliance support across the full range of core compliance functions and compliance related matters MLRO •The Money Laundering Reporting Officer (MLRO) has the responsibility to receive internal disclosures of unusual activities, decide whether such internal disclosures should be reported to the authorities as a Suspicious Activity Report (SAR), and if appropriate report such SARs. Compliance Officer •Support the implementation of an annual compliance monitoring plan to cover all aspects of the company's regulated activities and Financial Crime AML Analyst •Assist with the continuing client due diligence (CDD) procedures both pre and post client/ investor on boarding. •The Analyst is expected to be the key advisor to the business, clients and investors on AML matters •Analysis of findings of AML monitoring and production of reports for the MLRO and Deputy MLRO Reports Reports Reports, Search (basic and advanced), Snapshots, Alerts, Entity and People Screening Information Reports, Search (basic and advanced), Snapshots, Alerts, Entity and People Screening Information
- 28. 28 The data mapped to use cases: Financial Services INTERNAL USE ONLY Researcher • Responsible for providing research services involving legal, business, and general information sources to colleagues using a variety of print and electronic research sources Knowledge Managers • The main function of the knowledge sharing position would be to help champion organization-wide knowledge sharing, so that the organization s know-how, information and experience is shared inside and (as appropriate) outside the organization with clients, partners, and stakeholders Analysts • Business line analysts are part of multiple revenue and client facing teams such as corporate finance, loans, capital markets, treasury bills, trading, broking, fixed income teams, marketing Search (basic and advanced), Reports, Snapshots, Investigations Reports Data Reports, Search (basic and advanced), Snapshots, Alerts, Entity and People Screening Information
- 29. 29 The data mapped to use cases: Legal INTERNAL USE ONLY Compliance • When a law firm on-boards a new client the compliance team carry out due diligence / AML research on the client Conflicts • When a law firm opens a new matter (case), this team is responsible for checking whether there is s conflict between representing a particular company and a company they already act for. This is determined by using the family tree data to identify conflicting entities within the same corporate group. Data Governance • This team is responsible for verifying that client data within internal systems is accurate Business Development • Occasionally use Onboard for researching companies. However, this is not a primary use case Reports, Search (basic and advanced), Snapshots, Alerts, Entity and People Screening Information Reports, Search (basic and advanced), Snapshots, Alerts, Entity and People Screening Information Reports, Search (basic and advanced) Reports, Search (basic and advanced), Enhanced Screening,
- 30. 30 Connect the right global data insight,to meet customer due diligence objectives Client Tasks Onboard Capabilities Benefits Compliance function • Compliance Officers are required to undertake enquiries, complete and Maintain Records, track name changes, transfers of interest, changes in structure • Evaluate AML risk, Provide Authorisation • Ensure CDD carried out in line with AML regulations • Set Company Guidelines, Policies • Act as a second line of defence Business Line officers • Analyse entities/ individuals for client advisory purposes • Make decisions in line with internal compliance rules and regulation • Act as the first line of defence for AML and implementing KYC Match & Search Reports & Documents Help Meet Regulation Reduce Risk • Product/ Service risk • Delivery channel risk (remote customers) • Manage jurisdiction risk • Identify the legal structure • Understand entity financial risk profile • Identify the individuals behind the entity • Identify Politically Exposed Persons • Identify entities under sanctions list • Enhance monitoring capabilities • Write more informed Suspicious Activity Reports (SAR’s) • Electronic and Secure record keeping for Internal Reporting process Implementation of CDD Process Other • Data Management • Improve Speed in Risk identification • Better use of internal resources • Brand Preservation • Better investment decisions Sanctions, PEP’s & Media Screening Alerts Portfolio Snapshots Investigations Identify, Verify, Enrich, Screen, Monitor, Audit Compliance Data Set Internal Use Only INTERNAL USE ONLY
- 31. 31 SalesWin – Master Data & Compliance The UK team closed a deal for $400k by selling a combination of D&B Onboard and data services. A bank with an immature due diligence program, had a two-fold need: they had recently failed regulator inspections and they need to prepare for the fast approaching May FinCEN deadline. Will, along with the Brian, worked with two separate divisions at the bank and created a full D&B solution; high risk mediation for the Bank Security Account group and D&B Onboard with Beneficial Ownership for the BAU group needing customer due diligence. Because of the customer’s immature model, they were able to become trusted advisors and led with the D&B data value story. And the partnership isn’t over yet. Working closely with the customer, Will and Brian are developing tiered, risk-based approach to enhanced due diligence reporting focused on high risk accounts for additional screening against sanctions, adverse media and PEPs. This is a great example of how listening to the customer and creating complete solutions to address their need can really pay off. Failed regulator inspections & preparing for FinCEN grew a $35k opportunity into a $400k sale. Supply and Compliance with D&B Workshop - INTERNAL USE ONLY
- 32. 32 OVERVIEW Features Content • 300+ million legal entities including corporate family trees and ownership down to 0.1% • Over 5 million daily updates to our global proprietary database covering ownership changes, key executives & location moves. • Globally consistent identity & compliance content, linked through a unique identifier from cradle to grave (DUNS) • 5 Year historical company financials • Languages (English, German, Dutch, French) Capabilities • Search: Basic and Advanced Options • Snapshots: Saved Last seen report • Investigations: Launch a investigation • Portfolio • Alerts Delivery Mechanism(s) • GUI: Onboard • API: Direct Benefits Customer Types • Financial and Credit Institutions • Legal professionals • Auditors, Insolvency Practitioners • Accountants, Tax Advisors • Manufacturing • Trust or Company Service Providers • Broker Dealers • Government Agency, Education • Logistics, Mobile & Retail • Bookmaker Use Cases • Money Laundering Reporting Officer • AML (Senior) KYC Analyst/ Officer • Fraud Manager • Chief Compliance Officer • Compliance Officer • Operational Compliance Officers • CDD File Reviewer • Investigative Officers • Credit Control Analyst • Procurement Officers • Knowledge Managers • Information Researchers • Business Line Analysts/ Associates • Cross Business Officers and Managers • Auditor Managers/ Officers INTERNAL USE ONLY
- 35. 35 AML KYC Analyst/ Officer Use Case About AML/ KYC Duties Tasks Client Due Diligence (CDD) -Undertake Enquiries -Complete Records -Escalate to MLRO/ MLCO where needed -Maintain Records for New Business -Track name changes, transfers of interest, changes in structure -Evaluate AML risk -Ensure CDD carried out in line with AML regulations, Company Guidelines, Policies Reports -Prepare CDD files in accurate and timely manner -Produce, review and remediate AML reports for board -Periodic review of CDD files Research -Keep up to date with AML legislation, guidance, relevant jurisdiction Training Assist with roll out of staff training for AML/ CFT Skills Needed -Good communicator -Good knowledge of IT systems -Time Management and Organisational skills -Work under pressure -Maintaining accuracy and Quality Standards About AML/ KYC Anti-money laundering (AML) refers to a set of procedures, laws or regulations designed to stop the practice of generating income through illegal actions. In most cases, money launderers hide their actions through a series of steps that make it look like money that came from illegal or unethical sources was earned legitimately. Though AML laws cover only a relatively limited number of transactions and criminal behaviors, their implications are extremely far-reaching. For example, AML regulations require institutions issuing credit or allowing customers open accounts to complete due-diligence procedures to ensure that these institutions are not aiding in money-laundering activities. The onus to perform these procedures is on the institutions, not on the criminals or the government Duties Assist with the continuing client due diligence (CDD) procedures both pre and post client/ investor on boarding. The Analyst is expected to be the key advisor to the business, clients and investors on AML matters Our Solutions Delivery -GUI via Onboard -API via Direct Onboard INTERNAL USE ONLY
- 36. 36 Senior AML Analyst/ Officer Use Case About AML/ KYC Duties Duties Undertake Anti-Money Laundering monitoring across all relevant business areas Analysis of findings of AML monitoring and production of reports for the MLRO and Deputy MLRO Tasks -Reviews will include gap analysis and training needs -Identify areas of non compliance with regulation, internal policy, business procedure and practice -Recommend policy change to the DMLRO -Escalate outstanding issues not completed within agreed timescales Advise the business on all areas of day- to-day AML policy and procedures -Development and delivery of AML initiatives and employee training programmes -Authorising account referrals made by the business where the charity is operational in high risk countries and that have sanctions programmes in force About AML/ KYC Anti-money laundering (AML) refers to a set of procedures, laws or regulations designed to stop the practice of generating income through illegal actions. In most cases, money launderers hide their actions through a series of steps that make it look like money that came from illegal or unethical sources was earned legitimately. Though AML laws cover only a relatively limited number of transactions and criminal behaviors, their implications are extremely far-reaching. For example, AML regulations require institutions issuing credit or allowing customers open accounts to complete due-diligence procedures to ensure that these institutions are not aiding in money-laundering activities. The onus to perform these procedures is on the institutions, not on the criminals or the government Tasks -Consideration and submission of Suspicious -Activity Reports -Investigation of specified anti-money laundering referrals made by business areas; -Authorising foreign payments and foreign receipts where money is sent to or received from high risk countries, including countries with sanctions -Authorising new accounts, account changes, and payments where links to PEPs have been identified -Authorising referral of searches that display alerts for PEP, Halo deceased, enhanced country risk or sanctions lists -Review, analyse and authorise appropriate action where Screening identifies any matches to PEP, HNWI, Sanctions, Criminal Enforcement, FBI/CIA lists for all products, accounts and signatories -Provide training for staff on use of Screening and Management of Users on the system – adding, amending, reset of passwords Skills Needed Knowledge of: JMLSG; AML and terrorist financing regulations and sources of information to support investigations Ability to conduct research in support of AML Policy, Practice and in consideration of transaction referrals Ability to make decisions on behalf of (D) MLRO where CEO and senior managers require guidance Ability to influence decisions Our Solutions Delivery -GUI via Onboard -API via Direct Onboard INTERNAL USE ONLY
- 37. 37 Money Laundering Reporting Officer Use Case About AML/ KYC Duties Duties The Money Laundering Reporting Officer (MLRO) has the responsibility to receive internal disclosures of unusual activities, decide whether such internal disclosures should be reported to the National Crime Authority (NCA) as a Suspicious Activity Report (SAR), and if appropriate report such SARs. Tasks Client on-boarding -Reviewing and authorising Private and Corporate client accounts, ensuring full KYC and Customer Due Diligence is completed -Understanding of FCA regulations, suggesting process enhancements while ensuring that all practices are compliant with UK regulatory requirements About AML/ KYC Anti-money laundering (AML) refers to a set of procedures, laws or regulations designed to stop the practice of generating income through illegal actions. In most cases, money launderers hide their actions through a series of steps that make it look like money that came from illegal or unethical sources was earned legitimately. Though AML laws cover only a relatively limited number of transactions and criminal behaviors, their implications are extremely far-reaching. For example, AML regulations require institutions issuing credit or allowing customers open accounts to complete due-diligence procedures to ensure that these institutions are not aiding in money-laundering activities. The onus to perform these procedures is on the institutions, not on the criminals or the government Tasks -Develop and enhance AML and Compliance manuals outlining all policies and procedures -Keep up to date with current AML regulations and implement into the company AML manual when required -Completing SAR reports for the NCA and managing the SAR register Develop Risk Management framework -Delivery of staff training in relation to risk and compliance. Regulatory engagement - responding to enquiries from the UK regulators (FCA/HMRC) and banking counterparties Skills Needed -Good communicator -Ability to work well under pressure -Effectively and set priorities and meet deadlines Our Solutions Delivery -GUI via Onboard -API via Direct Onboard INTERNAL USE ONLY
- 38. 38 Deputy MLRO About AML/ KYC Duties Duties Supporting MLRO with day-to-day responsibilities About AML/ KYC Anti-money laundering (AML) refers to a set of procedures, laws or regulations designed to stop the practice of generating income through illegal actions. In most cases, money launderers hide their actions through a series of steps that make it look like money that came from illegal or unethical sources was earned legitimately. Though AML laws cover only a relatively limited number of transactions and criminal behaviors, their implications are extremely far-reaching. For example, AML regulations require institutions issuing credit or allowing customers open accounts to complete due-diligence procedures to ensure that these institutions are not aiding in money-laundering activities. The onus to perform these procedures is on the institutions, not on the criminals or the government Tasks -Supporting the development and delivery of fraud strategies -handle incidents of fraud, communicating effectively and appropriately with customers, victims of crime, law enforcement and colleagues -Report effectiveness of current fraud strategy and identifying and implementing efficiency improvements -Analysing data to identify and predict the threat of fraud -Gaining and utilising knowledge of the market to influence fraud detection strategies and identify fraud trends -Work with Legal Counsel to ensure Data Protection/ Integrity/ Security requirements are ingrained within the business -Work with Regulatory Counsel to ensure adequacy of Systems & Controls (FCA SYSC Handbook) Skills Needed Good communication Strategic thinking Our Solutions Delivery -GUI via Onboard -API via Direct Onboard INTERNAL USE ONLY
- 39. 39 CDD File Reviewer Use Case About AML/ KYC Duties Duties Ensure that investor due diligence has been collected to the appropriate standard About AML/ KYC Anti-money laundering (AML) refers to a set of procedures, laws or regulations designed to stop the practice of generating income through illegal actions. In most cases, money launderers hide their actions through a series of steps that make it look like money that came from illegal or unethical sources was earned legitimately. Though AML laws cover only a relatively limited number of transactions and criminal behaviors, their implications are extremely far-reaching. For example, AML regulations require institutions issuing credit or allowing customers open accounts to complete due-diligence procedures to ensure that these institutions are not aiding in money-laundering activities. The onus to perform these procedures is on the institutions, not on the criminals or the government Tasks Conduct Worldcheck and background searches and provide guidance to the KYC team responsible for on boarding new business Skills Needed solid CDD file review knowledge. Our Solutions Delivery -GUI via Onboard -API via Direct Onboard INTERNAL USE ONLY
- 40. 40 Compliance Officer Use Case About AML/ KYC Duties Duties Support the implementation of an annual compliance monitoring plan to cover all aspects of the company's PRA and FCA regulated activities and Financial Crime Tasks -Provide practical technical compliance advice to the Company -Maintain a comprehensive understanding of PRA and FCA requirements and standards as they affect the business. About AML/ KYC Anti-money laundering (AML) refers to a set of procedures, laws or regulations designed to stop the practice of generating income through illegal actions. In most cases, money launderers hide their actions through a series of steps that make it look like money that came from illegal or unethical sources was earned legitimately. Though AML laws cover only a relatively limited number of transactions and criminal behaviors, their implications are extremely far-reaching. For example, AML regulations require institutions issuing credit or allowing customers open accounts to complete due-diligence procedures to ensure that these institutions are not aiding in money-laundering activities. The onus to perform these procedures is on the institutions, not on the criminals or the government Tasks -Support the business by assessing the scope and potential impact of regulatory change and where necessary undertake or provide consultancy services to the resultant change programmes -Establish effective internal relationships to ensure that new products and company initiatives are considered in a compliant and commercially sensitive manner. -Provide an a sign off process for all marketing material and other documentation impacted by PRA and FCA regulatory requirements. -Produce a monthly reports to the head of compliance on the functions activities and any risks identified. -Review training Skills Needed -Strong attention to detail and be highly organised. -Ability to be able to work to deadlines. -Excellent verbal and written communication skills Our Solutions Delivery -GUI via Onboard -API via Direct Onboard INTERNAL USE ONLY
- 41. 41 Chief Compliance Officer Use Case About AML/ KYC Duties Tasks -Ensuring that all compliance manuals, policies and documented processes/procedures are kept up to date -Managing a rolling program of periodic regulatory compliance audits of each office -Development of a proactive, risk-based compliance monitoring programme, including regular reviews of business activities. -Monitoring marketing activities and any other high-risk activities -Seeking to develop a good working relationship with key contacts at the FCA and dealing with any inquiries from and inspections or audits undertaken by any regulatory authorities from time to time. -Ensuring all regulatory filings in respect of our investment businesses in EMEA are made -Overseeing delivery of training -Ensuring compliance with all laws and regulations applicable to businesses as applicable -Dealing with ad-hoc compliance and regulatory queries from line of business Skills Needed -Excellent Communication -Attention to detail -Knowledge of the regulatory environment -Stakeholder management Duties Oversight and management of the overall compliance framework for, and delivery of compliance support. Overseeing the effective and proactive delivery of compliance support across the full range of core compliance functions and compliance related matters. Tasks -Providing strategic advice to business leaders -Providing technical regulatory advice as required in connection with the regulatory aspects of specific transactions, existing services and proposed new services. -Developing and monitoring the adequacy and effectiveness of the existing compliance arrangements in place and ensuring that remedial action is taken where any deficiencies are identified -Maintaining knowledge of the regulatory framework in the UK EU markets. About AML/ KYC Anti-money laundering (AML) refers to a set of procedures, laws or regulations designed to stop the practice of generating income through illegal actions. In most cases, money launderers hide their actions through a series of steps that make it look like money that came from illegal or unethical sources was earned legitimately. Though AML laws cover only a relatively limited number of transactions and criminal behaviors, their implications are extremely far-reaching. For example, AML regulations require institutions issuing credit or allowing customers open accounts to complete due-diligence procedures to ensure that these institutions are not aiding in money-laundering activities. The onus to perform these procedures is on the institutions, not on the criminals or the government Our Solutions Delivery -GUI via Onboard -API via Direct Onboard INTERNAL USE ONLY
- 42. 42 Knowledge Manager About AML/ KYC Duties Tasks -Promote collaborative tools such as activity rooms to facilitate sharing of ideas and work among internal teams and external partners; -Share experiences across communities of practice, business units, and networks on innovative approaches in knowledge sharing, including preparation of case studies; -Help monitor and evaluate the knowledge sharing program, including external benchmarking and evaluation programs/opportunities; -Provide support for the establishment and nurturing of communities of practice, including workshops, one-on-one guidance, and troubleshooting; Skills Needed -Openness to new ideas -Strong communication skills - able to deal with colleagues of different experience levels and seniority -keen and able to champion KM in the organization -Competent online, research and analytical skills, including ability to create metrics and measure impact Duties The main function of the knowledge sharing position would be to help champion organization- wide knowledge sharing, so that the organization s know-how, information and experience is shared inside and (as appropriate) outside the organization with clients, partners, and stakeholders Tasks -Promote knowledge sharing through the organization's operational business processes and systems by strengthening links between knowledge sharing and the information systems, and improving integration among information systems in the organization, to facilitate seamless exchange of information across systems About AML/ KYC Anti-money laundering (AML) refers to a set of procedures, laws or regulations designed to stop the practice of generating income through illegal actions. In most cases, money launderers hide their actions through a series of steps that make it look like money that came from illegal or unethical sources was earned legitimately. Though AML laws cover only a relatively limited number of transactions and criminal behaviors, their implications are extremely far-reaching. For example, AML regulations require institutions issuing credit or allowing customers open accounts to complete due-diligence procedures to ensure that these institutions are not aiding in money-laundering activities. The onus to perform these procedures is on the institutions, not on the criminals or the government Our Solutions Delivery -API via Direct Onboard INTERNAL USE ONLY
- 43. 43 Audit Manager - AML About AML/ KYC Duties Tasks -Strong Audit skills and experience, good knowledge of key regulations and regulation developments and changes. -Liaising with Senior Internal Stakeholders. -The Auditor will participate in AML audits and control consulting engagements that evaluate corporate management, business processes, business controls, risk assessments and operating practices. Skills Needed -Audit experience in practice or internal audit, focusing on Financial Services - especially with AML, BSA and OFAC. -ACA, ACCA, CPA, CIA, or CAMS qualified. -The willingness to develop core competencies in risk based audit methodology Duties The Auditor will be responsible for working with a team of professionals to assess the effectiveness of controls designed to ensure the businesses are complying with relevant Anti Money Laundering (AML) requirements such as the Banking Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) requirements. Tasks -Auditor would also audit areas like Know Your Customer (KYC). -Oversee AML Audits including; establishing, monitoring risk assessment and testing of areas such as BSA/AML and OFAC. About AML/ KYC Anti-money laundering (AML) refers to a set of procedures, laws or regulations designed to stop the practice of generating income through illegal actions. In most cases, money launderers hide their actions through a series of steps that make it look like money that came from illegal or unethical sources was earned legitimately. Though AML laws cover only a relatively limited number of transactions and criminal behaviors, their implications are extremely far-reaching. For example, AML regulations require institutions issuing credit or allowing customers open accounts to complete due-diligence procedures to ensure that these institutions are not aiding in money-laundering activities. The onus to perform these procedures is on the institutions, not on the criminals or the government Our Solutions Delivery -GUI via Onboard -API via Direct Onboard INTERNAL USE ONLY
- 44. 44 Head of Procurement, Financial Services About AML/ KYC Duties Tasks -Manage all IT contracts and renewals in conjunction with IT & Legal teams Be responsible for all Procure to Pay process for IT -Deliver a strategy of cost savings programme in line with office targets -Manage team to effectively carry out all procurement activity Co-ordinate the IT costs and procurement processes to collaborative effect with other regional offices -Provide support to stakeholders and management team on savings initiatives or operational improvement programmes -Define and implement best practice of procurement standards Skills Needed -experience of the procurement cycle Knowledge of procurement best practice and strategies experience of business process modelling and evaluating business plans A commercial mindset and demonstrated ability in negotiation Experience of developing, reviewing and agreeing commercial contracts for services, products and consumable purchasing Experience of managing contracts throughout their life-cycle Experience of influencing stakeholders and decision makers . Duties Create, develop and drive purchasing strategies, negotiating best terms, initiating supplier development and partnership optimization with all suppliers. Tasks -Manage IT procurement functions across all IT categories including: hardware, software, sub- contractors, outsourced services and telecommunications -Take the lead role in high value procurement projects, e.g. RFP process Deliver a quality procurement service to the business by providing the right IT category goods and services for the best cost and terms About AML/ KYC Anti-money laundering (AML) refers to a set of procedures, laws or regulations designed to stop the practice of generating income through illegal actions. In most cases, money launderers hide their actions through a series of steps that make it look like money that came from illegal or unethical sources was earned legitimately. Though AML laws cover only a relatively limited number of transactions and criminal behaviors, their implications are extremely far-reaching. For example, AML regulations require institutions issuing credit or allowing customers open accounts to complete due-diligence procedures to ensure that these institutions are not aiding in money-laundering activities. The onus to perform these procedures is on the institutions, not on the criminals or the government Our Solutions Delivery -GUI via Onboard -API via Direct Onboard INTERNAL USE ONLY
- 45. 45 Information Researchers - Legal About AML/ KYC Duties Tasks -Conducting local and international legal and non-legal research -Reviewing diverse sources of information and helping to choose the best sources for answering research requests. -Monitoring legal, business and news sources for current developments in practice areas, for clients and industries. -Providing training in print and electronic resources and research skills -Maintaining familiarity with library operational functions -Interfacing with other law firms, agencies, libraries and organizations; -Representing the firm in a professional manner Skills Needed IT Some Industry knowledge Duties Responsible for providing research services involving legal, business, and general information sources to attorneys, paralegals and staff using a variety of print and electronic research sources About AML/ KYC Anti-money laundering (AML) refers to a set of procedures, laws or regulations designed to stop the practice of generating income through illegal actions. In most cases, money launderers hide their actions through a series of steps that make it look like money that came from illegal or unethical sources was earned legitimately. Though AML laws cover only a relatively limited number of transactions and criminal behaviors, their implications are extremely far-reaching. For example, AML regulations require institutions issuing credit or allowing customers open accounts to complete due-diligence procedures to ensure that these institutions are not aiding in money-laundering activities. The onus to perform these procedures is on the institutions, not on the criminals or the government Our Solutions Delivery -GUI via Onboard INTERNAL USE ONLY
- 46. 46 Information Researchers – Financial Services About AML/ KYC Duties Tasks -Conducting research for equities, fixed income, loans, capital markets, broking, trading and other financial services departments -Reviewing diverse sources of information and helping to choose the best sources for answering research requests. -Monitoring business and news sources for current developments in practice areas for industries. -Providing training in print and electronic resources and research skills Skills Needed -IT -Quickly learn how to use database -Manage time -Analytical Duties Provide stakeholders with data using external, internet and internal sources About AML/ KYC Anti-money laundering (AML) refers to a set of procedures, laws or regulations designed to stop the practice of generating income through illegal actions. In most cases, money launderers hide their actions through a series of steps that make it look like money that came from illegal or unethical sources was earned legitimately. Though AML laws cover only a relatively limited number of transactions and criminal behaviors, their implications are extremely far-reaching. For example, AML regulations require institutions issuing credit or allowing customers open accounts to complete due-diligence procedures to ensure that these institutions are not aiding in money-laundering activities. The onus to perform these procedures is on the institutions, not on the criminals or the government Our Solutions Delivery -GUI via Onboard INTERNAL USE ONLY
- 47. 47 Analysts – Business Line About AML/ KYC Duties Tasks -New client origination (including identification, analysis, communications/pitching, mandate negotiation) -Conducting research and preparing reports on clients, potential clients, peer groups/comparables, industries/sectors, etc. -Preparing marketing and diligence materials including pitch books, teasers, introductory emails, presentations, information memorandums, and data rooms -Interacting with investors/acquirers/partners on client mandates, including identification, communications and negotiations -Project management of the deal execution process including negotiations, documentation, diligence, and managing 3rd party advisors (lawyers, accountants, IPO brokers, etc.) Skills Needed Analysis Maths Accounting Sales Marketing Duties Business line analysts are part of multiple revenue and client facing teams such as corporate finance, loans, capital markets, treasury bills, trading, broking, fixed income teams, marketing About AML/ KYC Anti-money laundering (AML) refers to a set of procedures, laws or regulations designed to stop the practice of generating income through illegal actions. In most cases, money launderers hide their actions through a series of steps that make it look like money that came from illegal or unethical sources was earned legitimately. Though AML laws cover only a relatively limited number of transactions and criminal behaviors, their implications are extremely far-reaching. For example, AML regulations require institutions issuing credit or allowing customers open accounts to complete due-diligence procedures to ensure that these institutions are not aiding in money-laundering activities. The onus to perform these procedures is on the institutions, not on the criminals or the government Our Solutions Delivery -GUI via Onboard -API via Direct Onboard INTERNAL USE ONLY
- 48. 48 Compliance leaders today are challenged to meet evolving regulations while keeping a strategic eye on growth opportunities and moving at the speed of business. Customer Pain Points Direct for Compliance Solution provides Data at your service and Real Time Verification Core Capabilities include: • Match & Search • Reports & Documents • Alerts • Sanctions, PEPs & Media Screening • Beneficial Ownership Product Overview D&B Direct for Compliance Unlock Compliance Complexity and Deliver Growth with the Global Data Key Dun & Bradstreet’s global database provides the deep identity knowledge and trusted data you need to reduce the regulatory burden and make informed compliance decisions quickly and easily Value Proposition Supply and Compliance with D&B Workshop - INTERNAL USE ONLY