how to create new Scenario to monitor Employees and their Husbands/wives and children accounts?

[MG18]

Hi All,

I have one challenge for while developing the new custom scenario , if any one has implemented this solution ,Please let me know how to proceed.

Requirement is as below :- 

• Create new Scenario to monitor employee, their spouse and children accounts, and generate alerts when cumulative credit transactions on their accounts exceeds a threshold which is (gross monthly salary of family * 2). Gross income need to be calculated irrespective of the employment with Bank.(Income details are available with Core) 

• This scenario will have to be executed on a daily basis, and alert need to be generated whenever a transaction makes the cumulative credit amount more than. Total family income *2 

• Alert should be generated for the Employee Who has been setup as “Reference employee”.
• This scenario should consider credit transactions of last 30 days or the transactions after the last alert on the customer (Reference employee), whichever is latest. 

• Transactions to be excluded from monitoring are Medical expenses, Salary, Incentives, Travel expenses, ATM Withdraw and Visa Electron purchases.

• Accounts to be excluded from monitoring are the accounts of Chairman, board members, Secretary of board of directors, Chief executive officer.

We have decided and agreed to make changes in Fsc_Party_Dim table as follow :-

• EMPLOYEE_IND, EMPLOYEE_NUMBER and ANNUAL_INCOME_AMOUNT and RELATED_EMPLOYEE_NUMBER fields in FSC_PARTY_DIM table to be populated correctly from Core banking .
• We will create the scenario which monitor the  transaction makes the cumulative credit amount more than Total family income *2 and will generate the alert for getting matches .
• In while children we have to exclude the above 18 years child or dependent.But I am not able to create the new custom scenario and not the approach also  If anyone has the idea about how to proceed , @Patrick @manishiiita  @AMSASPlease help me .Many Thanks in advance .

I need help on the following points :- 

1. Which is header i need to select while creating the Custom Scenario ? Do i need to change any existing header or I need to create the new header as I am changing the FSC_PARTY_DIM table ?
2. How can i exclude the above 18 years accounts while creating the custom scenario?
3. Is there any existing scenario which satisfy above requirement ? or I can modify any existing scenario for the same ?

[tomrvincent]

That all seems highly unethical. Plus, the people at the top are excluded?!? They're the ones most likely to commit financial crimes.

[MG18]

Hi @tomrvincent,

Can Please explain how it is unethical ?? I  am not supposed to judge the Bank decision and i must propose solution for their requirement not judgement for  the requirement (decision ).

[tomrvincent]

Monitoring people's bank accounts? By court order? Without their knowledge? And why would the executives be exempt?!?

What bank is this? I want to make sure I NEVER do business with them!

[manishiiita · Accepted solution]

Hi @MG18, this is a very big requirement. It will require customization at various levels.

Your whole requirement can be broken into three pieces:

1. Data Management: This part will accommodate data for family members in existing AML system. It can be done in multiple ways, you have to keep your final scenario in mind. Above approach written by you can also be used.

2. Prep Files: This is one of the most important section. The data set created over here will be used in scenarios/headers. You will have to cover all the test cases:

• Build a logic at prep level to collect all transactions of the Party & their related parties (Family Members) at Party Level (Reference employee).
• Exclude Children with age > 18.
• Calculate gross income for the family.
• You should also exclude all parties covering Chairman, board members, Secretary of board of directors, Chief executive officer at this level.
• Transactions covering Medical expenses, Salary, Incentives, Travel expenses, ATM Withdraw and Visa Electron purchases should be excluded

3. Scenarios & Headers: I would recommend to create a separate Header for this based on above prep file. Scenarios will be in under this header with given thresholds.

I hope this would be helpful. You can take help of some experienced if you need any further help.

[Patrick]

I agree with @manishiiita that this feels like "custom everything".

You will need to clarify with your customer if they want to see the triggering transactions for alerts or not and then based on that go for either a custom party header or a custom TM header.