If your Compliance department has concrete ideas on how to implement the sanctions list check in your company, then only the implementation of the requirements is your responsibility. You are then required to come up with a solution based on your existing IT landscape and the available resources.
We are happy to support you in this process with the experience we have gained over many years and our software products, which were also developed on the basis of this knowledge. You can be sure that we will work with you to find an efficient solution to all the challenges involved.
The VGS (VALIDATION GATEWAY SERVER) plays a central role:
It is installed on a Windows server, preferably on a virtual machine, on-premises in your network or as a cloud solution in our data centre in Germany.
Proven documents and instructions allow the roll-out including installation to be completed in a core time of five consecutive days after thorough, joint preparation.
You can connect any number of ERP systems, pre-systems and post-systems. All conceivable interfaces are available, e.g. API Web Service, ODBC, .txt, .csv…
Different testing methods are also available to suit your processes:
Mass data verification via batch runs,
Document checks in real time
You can also connect your SAP environment to the VGS: A fully SAP-integrated solution via RFC or Webservice REST together with a recovery tool that automatically restores the connection in case of network failures.
You can also integrate external data sources that are outside your network into your compliance processes on the VGS: With the ATM (ActiveTextMatch) module, you can check extracted data using the push method.
The VGS server is automatically supplied with updated sanctions list content online once a day. This function offers the security of being able to check with valid data material at any time. You do not need to do anything yourself.
After each update of a sanctions list, the VGS starts a “DELTA batch run” fully automatically. In this process, all previously checked master data and documents are again matched against the delta of the changes on the sanctions lists.
This procedure offers daily updated security for your data set.
An algorithm must be accurate and fast and should deliver as few false matches as possible.
The algorithm delivers hits even in the case of listening and writing errors, matches queries within 150 to 200 milliseconds each and does not impair the performance of your systems.
Depending on the data quality on your side, only 0.1 to 0.3 per mille of false hits are to be expected. That means one to three mishits per 10,000 checks.
The HitCaseManager (HCM) platform replaces the sending of e-mails in the event of hits. Each hit is shown as a “case” on this intranet platform and can be processed by authorised users of the Compliance Department.
HCM also has its own authorisation concept, which assigns different rights to users. The highest authorisation level allows the user to whitelist individual data records that repeatedly lead to incorrect hits. This whitelist is also checked again after each update of a sanctions list in the DELTA batch procedure.
On the VGS, the results of all checks are available online in the sector “Reports”. An xml file is generated for each individual examination. The files are available for backup in a defined directory. For you, this means audit-proof documentation for internal and external audits.
The VGS also matches requests from the optionally offered dominoWATCH INHOUSE platform.
Here, users can carry out individual checks in their intranet. The platform is multi-client capable.
If there is not yet a person responsible for the sanctions list screening in your company or if your compliance department does not yet have any concrete ideas for the realisation of a solution, then you will probably have to fill this vacuum additionally. In this case, we recommend that you read the contents of the “Management Summary for Compliance Officers”.
If you would like to discuss the topic in more detail with us, please contact our sales department for a remote desktop session. Together we can then develop a suitable scenario for your compliance concept.
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