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SanctionsHow effective is your sanctions screening?
tax and related services to public and private clients spanning multiple
companies through a globally connected network of member firms in more than
insights, and high-quality service to address clients’ most complex business
000 professionals make an impact that matters, please connect with us on
("DTTL"), its global network of member firms and their related entities. DTTL
legally separate and independent entities. DTTL does not provide services
Deloitte Touche Tohmatsu Limited.
Leverage prior knowledge and experience
We will leverage our knowledge of sanctions screening solutions from our numerous prior engagements to conduct this assessment efficiently and effectively. In particular, we will leverage the knowledge and insights gained to assess how the current implementation compares to the Deloitte industry benchmark, and highlight the areas where improvements can be made.
Sanctions expertise
We have a diverse team of specialist resources with deep knowledge of testing sanctions screening solutions in order to serve you best.
Sanctions screening Team
Rasmus Grejs Beyer
Director
+45 24 94 59 22
Martin Frey Lindholm
Assistant Director
+45 30 93 47 82
The Deloitte approach for testing sanctions screening solutions empirically measures the control effectiveness of thescreening solutions, provides a comparison to industry peers and a root-cause analysis of issues identified in theprocess.
Use Deloitte’s sanctions screening testing to gain an overview of:
Completeness of term identification (exact and ambiguous) from agreed sanctions lists;
Configuration of algorithms and Good Guy/false positive rules; and
Operational efficiency of the screening solution implementation.
Our approachWe test the implementations of sanctions screening solutions usingour proprietary Deloitte sanctions Test-File. Specifically, we:
• Review the effectiveness of sanctions screening solutions using aDeloitte generated Test-File containing terms from agreedregulatory lists and benchmark the results against users of similartechnologies in the Financial Services industry.
• Prepare a report outlining our observations on areas where riskswere identified, and recommendations to strengthen theconfiguration and use of your screening solutions based on findingsfrom our benchmark assessment.
Our methodology is tried and tested, delivers results quickly and issupported by an extensive range of toolkits and accelerators. It hasbeen used to complete over 150 reviews at about 30 banks, based inEurope, the Middle East, Asia-Pacific and the Americas.
Our Test-FileRegulatory listsAs part of the agreement of the testing scope, you will be able tochoose the lists you would like to test against.
Deloitte listsOur Test-Files comprise terms from Deloitte-generated lists containingBICs for sanctioned banks and banks in sanctioned countries, as wellas the names of the OFAC sanctioned countries, including cities andports in those countries.
Our deliveriesTest-File Summary ReportA first output from our work will be a summary output that will beprovided to you during the initial results analysis stage. Thiscomparative analysis of the screening results against the Deloittebenchmark will help you understand if your screening capability isappropriate to your business needs.
Analysis of whether your sanction screening capability isappropriate considering your needs
Test-File Detailed ReportA detailed report at the end of the review period will detail the resultsof our testing, providing specific insights into the effectiveness of yoursanctions screening solutions, including recommendation on whereimprovement could be made.
Insights about the effectiveness of your sanctions screeningsolutions and recommendation on possible improvements
AdviceOur industry SMEs will be on-hand throughout the engagement tofurther support any additional questions or points of discussion.
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Sample Test-File
Full Test-File
Screen
Analysis of causes of
issues
Analyse Results &
Benchmark
Report
Deloitte produces a sample dataset (~500 records) to verify that the Test-File can be
processed successfully
A full Test-File is created comprising between 20k and
40k test terms containing a
mixture of exact and ambiguous
Test-Terms
The client screens the Test-File
through a test environment –
the setup to be an exact replica of the
live environment
The results of the screening exercise are
processed and compared against the Deloitte industry benchmark
Observations are raised, and an investigation of
underperforming areas is undertaken to understand the
causes behind potential issues
Agree the regulator lists,
record types and formats which
will make up the Test-File
Planning & Requirements
SanctionsHow effective is your sanctions screening?
About Deloitte
Deloitte provides audit, consulting, financial advisory, risk advisory, tax and related services to public and private clients spanning multiple
industries. Deloitte serves four out of five Fortune Global 500® companies through a globally connected network of member firms in more than
150 countries and territories bringing world-class capabilities, insights, and high-quality service to address clients’ most complex business
challenges. To learn more about how Deloitte’s approximately 286,000 professionals make an impact that matters, please connect with us on
Facebook, LinkedIn, or Twitter.
Deloitte Touche Tohmatsu Limited
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited ("DTTL"), its global network of member firms and their related entities. DTTL
(also referred to as "Deloitte Global") and each of its member firms are legally separate and independent entities. DTTL does not provide services
to clients. Please see www.deloitte.com/about to learn more.
© 2019 Deloitte Statsautoriseret Revisionspartnerselskab. Member of Deloitte Touche Tohmatsu Limited.
