JHA Enterprise Risk Mitigation Solutions™
Combined AML and fraud analysis in one web-based, fully hosted solution
It is well understood that money launderers use deceit or theft to capture the processes of financial entities for illicit purposes. As a result, your anti-money laundering (AML) solutions must implement internal control designs that increase the chances of preventing or detecting such activities.
Financial managers and auditors are familiar with the concept and implementation of internal controls. However, an AML compliance program can root out and mitigate unseen hazards with a money laundering risk assessment. Also, the internal controls of an AML program are designed to generate the mandated reports and other surveillance, reporting, and records retention required by the Banking Secrecy Act, FinCEN, and the Office of Foreign Assets Control, among others.
JHA Enterprise Risk Mitigation Solutions delivers state-of-the-art analytics and empowers banks to analyze and research anti-money laundering (AML) and fraud information together using one web-based, fully hosted solution. The solution provides combined fraud and AML analysis – and incorporates key features like Predictive Analytics, Network Analytics, and Consortium Modeling – to determine an overall risk for each customer while reducing false positive rates for fraud and AML scenarios. With ERMS, banks gain the ability to research suspicious fraud and AML activity in one location, as well as the ability to research customer activity through transaction history, statistics, charts, graphs, and more.
This solution is available to banks automated by the SilverLake System® platform.
What It Does
- Provides industry-leading, state-of-the art predictive analytics powered by SAS®.
- Is a fully functional case and SAR management system.
- Provides easy alert visualizations to quickly dispose of alerts.
- Catches complex events that cross different payment channels within an institution.
- Utilizes advanced visual and network analytics.
- Includes the ability to add other lines of business data into the system.
What It Does For You
- Helps your bank stay ahead of FFIEC mandates, including the ongoing merger of fraud and AML solutions in modern banking technology.
- Offers customizable workflows to create process efficiencies within the Financial Crimes units of your institution.
- Determines an overall risk for each customer.
- Includes valuable fraud transaction monitoring for suspicious account activity regarding deposits, checks, ACH, ATM, online/mobile banking, bill payments, and more.
- Offers powerful AML protection, including transaction monitoring, risk ratings, and more.
- Reduces of false positives for fraud and AML scenarios.
- Gives your staff a single user interface for fraud and AML research and decision-making.
- Provides automatic updates to the latest features.
- Has the ability to incorporate additional risk functions from other JHA products in the future.
- Includes advanced reporting for boards of directors and examiners.
- Brings two industry leaders – JHA and SAS – together to protect your bank like never before.
When it comes to enforcing AML, the importance of the internal controls program is high. With this in mind, your bank should look to implement a comprehensive program built around your unique risk profile. Using JHA Enterprise Risk Solutions will help protect you from fraudulent spending and money laundering.