Data Assessment Workshop

Legal RM's Data Assessment Workshop provides professional services firms with an invaluable insight into the impact that their client records have on the effectiveness of their screening processes as well as highlighting hightened risk clients within your firms client base.

Following the Assessment you will have answers to questions such as:

• Is our client data ‘fit for purpose’ for effective and efficient Client Screening?
• What number of ‘false positives’ can I expect from a first or second generation Client Screening solution and what reduction can Legal RM in conjunction with the Datanomic SPS solution offer?
• Is my current approach to Client Screening putting me at risk of ‘false negatives’ – missing matches that could fundamentally damage the reputation of the organisation?

The Screening Data Assessment Process:

A sample of your client data is processed using dn:Director for Sanctions & PEP Screening to assess key aspects of your client data, including by not limited to:

• Completeness and structure of data required for effective screening including name, address, nationality and Date of Birth information
• Accuracy and appropriateness of name data e.g. instances of non-name data or multiple names in a single client record
• Accuracy and appropriateness of Date of Birth data e.g. are there system default dates being stored that will give misleading results if used in screening
• Completeness of location information within address data – can actionable domicile city and country information be extracted
• Identification of names that should be screened that are mis-fielded into address fields (the C/O issue) or free text comments fields
• Calculation of the number of ‘hits’ that lesser screening solutions would generate and the saving that would be derived from adopting the Datanomic solution.

The process is conducted under mutual NDA and all data security requirements are addressed. At no stage will the security of your data be compromised.

The results of the Assessment are documented and presented to you including a management summary and details of any data deficiencies found for further investigation/validation.

The results of the Assessment can also be taken forward to a full Risk Audit. Here your data sample is screened against the Watch lists of your choice to identify and quantify risk and to corroborate the findings of the Screening Data Assessment service.