Results

• Meeting AML/CTF and FATCA Compliance with Velocity

  Results: FATCA and AML/CTF compliance was met after a timely and effective roll out of the Velocity FinCrime suite across the bank’s business...

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• General Ledger Reconciliation Process Streamlined

  Results: The centralized future state General Ledger Reconciliation process addressed Internal Audit findings through better role delineation b...

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• Alacer Re-Engineers Process to Remediate Monitor Findings

  Results: The monitor finding was resolved on a timely basis with a tactical process change, as well as presenting a strategic solution. ...

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• Alacer Helps Top-Tier Finance Function Remediate Reconciliation Audit Point

  Results: Alacer found multiple instances of incorrect reconciliations which were adjusted for in the P&L and Balance Sheet along with best-prac...

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• FASB Lease Accounting Compliance at Top Bank

  Results: All lease information successfully transferred to new accounting system in time for FASB compliance. ...

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• Driving Simplification, Efficiency and Cost Savings for Global KYC Process

  Results: Re-engineered work flow, requirements and governance optimization adjustments resulting in cycle time reduction by 50%, processing tim...

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• Delivering and Sustaining Complex Financial Regulatory Data Reports

  Results: Building the bank’s data capture process and technological infrastructure was accomplished within schedule and budget, all without d...

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• Developing a Compliance Risk Assessment Framework

  As risks grow in complexity and intensity, financial institutions need compliance, analysis and review. ...

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• Identity Theft and Account Takeover Fraud

  Fraud from identity theft, account takeover and creation of new accounts continues to grow and has become a focus for financial institutions and their regulator...

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• Understanding Fraud and Factors to Consider When Developing a Fraud Detection and Deterrence Program

  Fraud takes many forms but it’s almost always preventable when an organization has the right policies, procedures and controls securely in place. This paper r...

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• Factors to Consider When Developing Procedures for FinCEN 314(a) Requests

  The USA PATRIOT Act requires risk identification, measurement, monitoring, controlling and reporting. Section 314(a) mandates information sharing between law en...

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• Developing an Effective Enterprise Risk Management (ERM) Framework

  An effective ERM provides management with a system of oversight, control and discipline affecting strategic direction, operations, reporting and compliance usi...

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• Analyzing Your High-Risk Customers

  Results: The bank exited high-risk business lines and jurisdictions and eliminated 15% of its customers. New policies, monitoring and investiga...

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• Bank Resolves Deficiencies with AML Program Management

  Results: All regulatory requirements were met, avoiding penalty, and AML Program is ready for sustained growth...

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• Planning and Implementing a Transaction Monitoring System

  Results: Clean, timely data is managed and processed with efficient workflow, 40% reduction in false alerts, 25% faster than similar systems at...

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• Validating Transaction Monitoring for Improved Alert Accuracy

  Results: Data analysis of Transactional Monitoring System (TMS) rules and scenarios provided guidance for new alert filters and thresholds opti...

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• Optimizing Success of Consumer Leads for the Finance Industry

  Results: Actions were identified and taken to both increase revenues and reduce costs, targeting a 10% improvement in lead performance resultin...

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• MSB Compliance with AML Regulations

  Results: New policies, procedures, training and diagnostic, review and reporting tools, added management tools, and operational safeguards....

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• Achieving Sanctions/OFAC compliance

  Results: Changes in staffing, reporting, technology and procedures resulted in an enhanced program that meets regulatory expectation....

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• Network Penetration Test: Protecting a Financial Firm’s Future

  Results: The client identified weaknesses in security, and developed a proactive incident response plan...

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• Business Unit Risk Assessment to Support AML Compliance

  Many financial institutions are facing tremendous regulatory challenges due to lack of a comprehensive AML risk assessment program. Alacer's Business Unit Risk ...

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• Enhancing the AML Risk Assessment Process

  Results: Greatly improved AML risk assessment process, improved management reports to better assess AML risk and decreased regulatory risk...

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• Augmenting AML Resources

  Results: Backlogs were eliminated within months. Quality scores were best-in-class and the project was delivered significantly under budget....

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• AML Staffing Gets Scientific

  Results: The BSA Officer received approval for his staffing request and now uses the staffing model to proactively manage staffing required for...

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• Monitoring and Reporting Potential Money Laundering and Terrorist Financing Activities

  Results: Saved $12 million/year in costs; cut $16 million in contract costs; regulators rated system best in class...

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• Kaizen Reduces Waste in Currency Transaction Reporting Processes

  Results: 40% improvement in CTR filing timelines; eliminated need for additional staffing...

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• Addressing Challenges with Manual AML Transaction Monitoring Processes

  Results: 35% of manual scenarios were eliminated, enabling the BSA Officer to reallocate staff to higher risk activities...

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• Creating Effective AML Management Information Systems

  Results: Senior management now has the information needed to assess potential compliance risks and issues. This was supported by a weekly revie...

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• Lean Six Sigma Tackles a Bank’s Regulatory Requirements for SARs

  Lean Six Sigma processes help a global financial institution eliminate its SARs backlog, improve productivity by 66% and cut cycle time in half....

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• Solving Financial Services Compliance Challenges with Lean Six Sigma

  Lean Six Sigma tools can be successfully used to help financial services organizations combat the challenges of increased regulatory requirements....

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• Design for Six Sigma Drives Increased Revenue for Financial Service Firms

  Design for Six Sigma tools can significantly improve a financial organization’s processes, ranging from how to address a costly SARs backlog to revamping a m...

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• Rating and Monitoring Customer Risk

  Results: Compliant CRR methodology meets all requirements, deployed within tight deadlines, able to periodically run analyses on changing risks...

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• AML Process Review Saves $1.4MM While Improving Customer and Employee Experience

  Results: Staff realignment, capacity adjustments and recaptured productivity saved $1.4 million; thousands of errors per day eliminated; increa...

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• Validating AML systems

  Results: All AML systems fully validated on time and per regulatory requirements...

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• Building a Balanced Scorecard

  Results: Fully automated Balanced Scorecards that are transparent and easy to navigate...

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• Reinventing the Insurance Business

  Results: Created self-service options, boosted regulatory compliance by 28% and reduced lead time by 50% ...

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• Compliance at Large North America Bank Gets Lean

  Results: A refined process cut 26 unnecessary steps for compliance in 47% less time...

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• Automated Options Trading: Big Data for Big Hedges

  Results: Machine-based yields at 30% on managed funds ...

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• Automated Options Trading: Big Data for Big Hedges

  Results: Machine-based solution yields 30% on managed funds ...

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• Check Imaging Shakes Up Banking

  Results: New platform implementation saved banks $350 million, reducing unit processing costs by 60% and total costs by 70%...

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• Applying Lean Six Sigma in the Financial Services Risk Management Environment

  Efficient management of the SAR 90-day follow up process streamlined using Lean Six Sigma to meet regulatory requirements...

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• A New Recipe for Tracking Online Financial Transactions

  Results: All online transactions posting within five minutes, resulting in $30 million in revenue growth and improved customer satisfaction...

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• Skip Loss — Stop Loss

  Results: Resolution time cut 62%, saving $12 million in U.S., solution adopted globally for additional $7 million savings...

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• Brave New Shores: Offshoring a Call and Collection Center

  Results: Saved $17 million in first six months, $20 million saved in next 13 months with related savings in infrastructure and hardware expense...

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• Money Laundering and Terrorist Financing Activities

  Results: Savings of $36 million over three years, vendor costs cut by $16 million and received “Best in Class” designation from regulatory ...

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• Building a Smarter Collections Decision Engine

  Results: $4 million expense savings, mitigation of $30 million of losses in six months, instant implementation of treatment strategies...

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• Innovation to Meet Anti-Money Laundering Regulations

  Results: New system database installed and operational in 4 months, manual reports eliminated...

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• Reinventing the Mortgage Process

  Results: 5-second decisions for 45% of HELOC applications, decision time on real estate secured loans cut by over 50%, restored 30,000 hours of...

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• Untangling the Forecasting and Planning Process

  Results: Personnel costs cut by 15%, data quality drastically improved, cycle time cut by two days, lower overtime, higher employee morale ...

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• Envisioning New Ways to Navigate Debt Portfolios

  Results: 10% reduction in operational employees, collection rate boosted by 100 BPS, improved cash flow funded purchase of new debt portfolio...

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• The New Work Force: Appealing to Gen-X Employees

  Results: 88% of new hires licensed within 90 days with 0% attrition, $4.5 million saved in recruitment/replacement costs...

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