ALERT CLEARING QC Process

[tgilligan]

What is your QC process of alert clearing?

Are your investigators clearing all their alerts by the end of the month and then BSA Management conducts a sample percentage the following month?
Are they required to clear a certain number of alerts daily/weekly/monthly?

If possible can they say if they use
Patriot Officer
Abrigo
Verafin
Or other TMS

[mdesso]

Hi there – this Megan Desso the Managing Director for Compliance and Regulatory Services at Shatswell MacLeod and Compliance Anchor. Typically it doesn’t matter what system is used, but any alert must be cleared within 30 days of issue. Most of our client banks are under a $2 billion and working with limited staffing resources relative to BSA, as such many of them don’t have a formal QC process, thus they focus on the actual review and process to properly clear the alert. For our larger institution that do have a QC process they are taking a sample of alerts based on volume and performing a secondary review.

Hope that helps!

[Author]

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