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Quality Assurance

A QA team acts as an independent partner to its Customers, i.e. FCC Investigators/Analysts, Training Department, and Compliance Departments. The QA team consists of experienced Subject Matter Experts to provide effective and timely expert guidance to the analyst/investigators. A robust QA program is responsible for the enforcement of Regulatory expectations and internal Policies through an in-house program to control and address potential risks and challenges in effective analyst performance.

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Control
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Timely
Feedback
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Program
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Process
Improvement
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Evolution

Our Services:

ComplyGenics assists a financial client to build a robust quality assurance program

 

Standardization, Core Competencies and KPI’s

The Quality Assurance framework is built on a set of core competencies against which the analyst is measured. Core competencies are established as Key Performance Indicators (KPI) to identify proficiency and skill set necessary to conduct AML Investigations – high-level competencies include:

 

  • Case disposition

  • Procedural Adherence

  • Analysis

  • Research

  • Writing

 

Core competencies are instituted to drive uniformity and standardization across regional centers.

Key QA Metrics


Incorrect Dispositions / reopens - Ensure that analysts make the right decision when choosing the appropriate closing action of the case. Competencies are also tracked to measure error rate and areas of deficiencies




Tracking & Reporting


Data are maintained in the QA platform where reports are extracted as appropriate for reporting requirements. Reports such as analyst feedback, aging reports, QA Team’s workload and productivity reports are periodically published.




Model Validation


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.




QA Tools and System


A Quality Assurance platform should be designed to store all QA reviews and related data. The tool should be able to efficiently serve as a warehouse of all evaluations completed. Serve as a record keeping tool to demonstrate a complete audit trail of the case i.e. all corrections done in lieu of a QA review with confirmation from Management that case has been worked correctly.




Issue Escalation, Tracking, & Resolution


Escalation - Timely report QA results to team leads, group management, and executive management. Report QA results and trends – such as results by employee, by team lead, by question, and month-to-month trends

Tracking & Resolution – Develop action plans to address significant issues and track action plans to resolution. Include target date for resolution and action plan owner




Gap Assessment


The Quality team along with the Training team and the FCC Management team continue to collaborate to support the business and the organization as a whole. All departments supporting the business and the QA team internally have the same understanding of Policies & Procedures and the Quality guidelines




Feedback Delivery


The Quality Assurance team is responsible for continuous feedback regarding the interpretation of procedures and guidelines. FCC Management uses all QA reviews to understand individual analyst’s opportunities or challenges. QA results are used to design specific Performance Improvement Plans (PIP) to support continuous growth and learning.




Training & Feedback


QA results are used to assist the Training Department in the improvement and development of rigorous training techniques, improve its modules and all related learning resources to drive speed to competency. Daily feedback to analysts to ensure continuous improvement in performance.





A properly executed QA program identifies, escalates, tracks, and facilitates the resolution of key issues:

Contact Us

1100 Cornwall Rd. Ste. 205, Monmouth Junction NJ 08852

609-924-3400

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© 2020 by ComplyGenics