Advisory Services
Our team provides broad and experienced expertise performing risk and vulnerability assessments, compliance program evaluations, and gap analysis to assist our clients in mitigating their exposure to financial crimes; implementing strategic and sustainable solutions, and improving their overall risk management.
We specialize in helping financial institutions harness compliance guidelines with technology to create effective, efficient, and sustainable financial crime and compliance programs.
Services
Program Strategy, Design & Testing
We help organizations revamp and complement their BSA/AML programs, reduce spend and create a roadmap for people, processes and technology while allowing them to stay agile and learn. We do that by assisting with policies, controls, procedures, processes and testing in both the second and third line of defense. Program and testing services include program and policy development, risk assessments, investigation procedures and more.
Model Risk Management
Our team will help assess and provide inputs to help your organization follow industry best practices across the governance and controls relating to maintaining the inventory of transaction monitoring models.
Model Validation
We will perform a full assessment to evaluate the effectiveness of your organization's transaction monitoring models in accordance with OCC and NYDFS guidelines. The model will be evaluated across its inputs/outputs, governance and controls, conceptual soundness, implementation accuracy, and model performance.
Coverage Assessment
Our team will assess the specific products and services that are offered within the organization, and apply their expertise to ensure that all industry standard risk and red flags are identified and covered by the transaction monitoring systems. The assessment may identify gaps where additional models may be required in order to address specific risks and red flags.
Look-back Testing
Matrix-IFS will assist you to plan and implement the independent review process according to the organization's standard operating procedures and identify any missed suspicious activity. Our team will also apply its experience and expertise during this process to strengthen the existing policies and provide guidance to reduce the risk of needing to conduct another look-back in the future.
Management Reporting
We will assist with the development of dynamic dashboard reports that allow senior management to get a snapshot of their current compliance landscape on a real-time basis, and also provide the functionality to drill-down into the details to identify specific trends or patterns for the period.
Threshold Tuning
Our team of experts will follow our proven methodology while leveraging our in-house tools to perform statistical based analysis against your existing transaction monitoring models, and work with your team to improve its efficiency and reduce the amount of false positives.
AML Training
Matrix-IFS offers training for financial institutions on various topics including counterparty due diligence assistance, selection and implementation of AML systems, AML compliance program assessments, remediation projects in order to update KYC documentation, forensic due diligence of intermediaries such as fund distributors, forensic due diligence of client portfolios, and investigations into suspicious transactions.
