Protiviti - AML Transaction Monitoring Alert Handling
Optimizing Transaction Monitoring Operations through Process Mining and Intelligent Automation
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 through 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.
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.
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
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.
Contact the Partner
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