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Protiviti AML Transaction Monitoring Alert Handling

Protiviti: Optimising Transaction Monitoring Operations through Process Mining and Intelligent Automation

Learn how Protiviti's AML Transaction Monitoring app uses Celonis’ Execution Management System (EMS) to discover, measure and enhance the transaction monitoring alert review process to enhance function productivity, reduce operational costs, and increase the quality of alert review investigations. Combining their risk and compliance expertise with the power of process mining and automation, Protiviti and Celonis can help you:

This is where Protiviti and Celonis Combine their Strengths:

  • Decrease the case processing times though automation

  • Increase straight-through-processing of false positives using pattern matching

  • Mitigate the risk of control breaches by monitoring the training needs of staff in real-time

  • Optimize AML resources by using predictive analytics to proactively manage operational challenges

  • Effectively manage capacity and resource allocation through automated case closure forecasting and simulation 

Features & Capabilities

The overview provides the key metrics to monitor current performance against agreed targets and service level agreements (SLAs), so we can have oversight of current performance and use the metrics to drive targeted action to improve performance.

Protiviti-AML Transaction Monitoring-overview

In Celonis, we can see the average case processing time between activities within the variant explorer. The pie chart shows the ‘Alert Review’ section of the process has the highest case processing times. To investigate the root causes we select to view only the cases where alert review is taking the longest time. We can take action to improve the function’s case processing times by assigning high risk cases to analysts within Level 3 for completion.

Protiviti_SLA_Adherence

The scatter chart shows the ‘Request For Information (RFI) – Information Received’ activity, as having the highest automation potential based on being: 1) the highest frequently occurring activity; and 2) the most manually occurring activity by percentage, referred to as the manual rate. To quantify the improvement opportunity in this area to inform a business case for investment

Protiviti_ProcessEff

Notify the team lead that the analysts have fallen below an acceptable level of quality and re-training is required. Automate registration onto re-training session. Restricted assignments of high-risk cases to the analyst until training has been completed.

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