Watchlist screening solution
Global Watchlist Screening Roundtable
“What we’d love to see is banks coming together to work collaboratively and share ideas.”
Who’s invited
UN, Sanctions Director, KO
SVB, Head of Sanctions, SH
Goldman Sachs, VP of Government Sanctions, BR
PayPal, Global Sanctions Compliance, BH
BB&T, SVP AML and Sanctions, BOT
Northern Trust, Global AML Econ Sanctions Consultant, DG
Amex, TS, Global Head of Sanctions and Anti-Corruption; and NG, FIU Director
First Republic, EA, VP BSA/AML Operational Strategy
Bank of the West, GV, VP Sanctions Systems Governance
Western Alliance, ES, VP CAMS, CRCM
Standard Chartered, Head Sanctions Governance and OFAC Reporting, AR
Circle, AML and OFAC Compliance Director,TH
Charles Schwab, DA, Managing Director, Deputy Global Sanctions Officer
Watchlist Screening for Financial Institutions
Watchlist screening is a component of broader regulatory compliance and risk management conducted by all financial institutions.
Watchlist screening has become increasingly challenging as sanctions are more complex, changes to lists are more frequent, and there is more data to manage.
Therefore, the cost of doing business safely also increases.
To help improve this state of affairs, Enigma conducted research on the current state of watchlist screening to understand specific experiences, challenges, and needs of financial institutions.
Where did we start?
Scan / Clarify / Frame
Observed methodology & challenges
Opportunity and challenge formulation
Solution formulation
Potential solution & idea development
Prototype to validate solution & ideas in physical form
Roundtable presentation
Findings, insights & learnings
The pain is real, we are on the right track, sanctions organization is paralyzed by massive alert volumes.
There is a repeatable product opportunity here, pain points & desires were relatively consistent across customers.
There was general interest/excitement in the solution we proposed.
What is the next step?
Event experience & materials
What I did
Conduct user research. Prototype design and direction. Curation of event.
In collaboration with:
Angel Nguyen Swift / VP, compliance and financial crime solutions
Ann / lead brand designer / annlidesign.com
Clo / lead product designer / claudiamauro.com
Andrew Park / motion graphic designer
Matt Horan / UX designer