Case Study

Leading Asset Manager uses AutoRek to Improve AML Transaction Monitoring Processes

The Issues
Meet the Requirements of the 3rd EU Money Laundering Directive
The client managed a wide range of hedge fund portfolios and the Compliance Team identified a need for a Transaction Monitoring System in order to help meet the requirements of the 3rd EU Money Laundering Directive 3EUMLD. The previous process had required 6 full time employees to fulfil the requirements of this directive and

this was deemed excessively expensive. The client asked the AutoRek team to design a more efficient process
using the existing AutoRek data loading and auto rule engine.

Our Solution
Anti Money Laundering Tool
Information was exported from a number of back and front office applications including CRM, transactional and external data. The data service provided a rule driven data query and extraction facility. These rules can be configured programmatically or can also be designed by super users. Transactions that are uploaded into the

data repository represent cases which must be managed.

The work flow ensured action was taken for each transaction in the form of alerts based on workflow profiles. The same transactions could be highlighted by different business rules and a method of identifying and associating transaction was provided. Assignment of the default was determined by the exception type or rule used to identify

the transaction.

Benefits
Allows Users to Focus on Compliance Issues Raised
The implementation of this system allowed the users to focus on the investigation of the compliance issues raised

by the AutoRek engine, instead of worrying about sourcing the data or going back to source systems to get
additional detail. After a short time, the team was reduced with 3 users being reallocated to enhance other areas of the business. A number of reports were created which could be accessed through a SharePoint environment and provide analysis of the current status of cases and performance of both users and business rules. In addition to this, a reporting model was created to allow users to perform self-service Business Intelligence and create ad-

hoc queries on the data.

The case view provided a detailed view of the transactions and allowed the user to review current status, history and associated actions. A notes and attachments function allowed the users to add narrative and add associated documentation to the case. The transaction view also supports the association of other similar cases. As all of the

cases and associated data were being held in the TMS, there was no need for client connectivity to other
systems. Although this was a small saving in this case, this can have a significant on-going client license saving in larger implementations.

If you are considering improving your companys existing reconciliation, cash allocation or data management processes, we would be delighted to hear from you. Please email Graeme McKee on graeme.mckee@autorek.com or call our Head Office on +44 (0) 845 603 3613.

193-197 Bath Street Glasgow G2 4HU

+44 (0) 845 603 3613 www.autorek.com