Data Governance Audit
Oxonia participated in an Assurance Review and was responsible for reviewing the client’s development of Data Quality Policy and Minimum Standards to enable the organization to effectively address regulatory instructions to:
- Identify key data elements necessary for an effective AML (Anti Money Laundering) surveillance program to identify suspicious behaviors and develop processes and validation methodologies to ensure there is no degradation or transformations in the data from the source system, and
- Identify and map all source systems.
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This work included the firm’s adoption of various elements including
Identification of key data elements (KDEs)
Validation of the integrity, accuracy and quality of data to ensure that accurate and complete data flows through the Transaction Monitoring and Screening program
Processes to ensure a complete and accurate transfer of data from source to automating monitoring and filtering systems.
