Reducing the Risks and Costs of Regulatory Compliance

South Asian Bank, New York Branch

In 2017, The Mizen Group performed an assessment to ensure that the data for all payments, initiated or received in the US, at the New York Branch flowed intact through its lifecycle. The assessment required The Mizen Group to independently validate and document:

  • That all messages received on any one day are processed across all systems, i.e., reconciliation of message counts between systems and reconciliation of rejections
  • The integrity of data is unchanged as it moves from one system to another.

Approach

The Mizen team brought industry and domain expertise to examine and validate the payment data as it flows from payment management systems to Sanctions and Transaction monitoring systems. The team examined the integrity of the data using a combination of proprietary techniques.

Mizen Results

With full co-operation by the Branch, Mizen:

  • Completed the assessment within 30 days
  • Produced a consolidated report that summarized weaknesses and deficiencies
  • Identified a clear inventory of data management artifacts that required remediation.

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