AML Data Warehousing, Integration & Governance

Data Management – the Foundation of AML Compliance

Sound data management is an essential component of effective anti-money-laundering (AML) compliance. Financial institutions routinely spend significant time and expense on AML data management, transaction monitoring, and related systems.

These expenditures do not have to be solely a cost, however. By providing solutions that integrate data and coordinate enterprise information access, Crowe Horwath LLP helps banks streamline the collection, consolidation, and governance of data to meet AML transaction monitoring requirements while also helping them leverage this data for improved operational performance, risk management, and strategic planning.

Crowe specialists have extensive experience helping banks build effective systems for managing the customer, account, and transactional data needed for AML compliance, overcoming an array of data-related challenges including:

  • Organization and governance issues - such as data silos, lack of a single source of integrated data, and ambiguities around data governance and ownership
  • Technology-related challenges - such as outdated platforms, data integration problems, systems that are designed solely for specific functions, and increasingly complex new products
  • Process-oriented data challenges - such as inadequate controls, poor data quality, and incomplete or obsolete data caused by manual or batch integrations

In addition to meeting data-driven concerns, the Crowe team also has experience in addressing a broader range of related AML issues including the design and implementation of sophisticated data analytic tools. Moreover, by bringing together data from unrelated data repositories, and by extending appropriate access and visibility across the organization, Crowe also helps banks use AML-related data to support other credit risk management, strategic planning, and line-of-business initiatives, while attending to wider data management issues on an enterprisewide basis.

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Christopher J. Sifter
Managing Director