Idola's Solutions Group (ISG) is a core team that
helps clients solve intricate challenges in implementing large scale,
complex, and business critical IT development and integration programs.
ISG provides cost-effective high-quality enterprise-level solutions
for client's most complex IT challenges. Idola helps you manage
risk, comply with regulations, and manage transformational challenges
while driving efficiency and improving service levels.
Risk and Compliance Consulting
Idola has developed significant expertise in Risk
and Compliance domain over the past eight years, having provided services
to several financial institutions in the following areas:
Policies and Procedures
Business Requirements Documentation
Training
Risk Modeling
Customer Onboarding
Transaction Monitoring Rules
Profiling
Case Management Augmentation
OFAC False Positive Remediation
Look backs
Independent Review and Testing
Regulated financial institutions must conduct annual testing
of their AML compliance program. Though, this testing can be
done by an internal auditor, increasingly institutions are opting
for hiring an outside party with experience in this type of
audit. An independent review demonstrates both a robust compliance
program and also enables senior management to get valuable unbiased
information, which helps them in ultimately reducing their risk
vulnerabilities.
Idola offers a broad range of professional services to meet
the independent review needs of small and medium sized financial
institutions. Idola can provide cost-effective third-party review
and data analysis services of AML compliance implementations.
The review process covers
An independent review of the Compliance Program
including Policies and Procedures
Data Review including review of interfaces, Data
flow, Data quality and Reconciliation.
Review of Artifacts
Evaluation and Recommendation Report that includes
a Gap Analysis and prioritization of remediation measures.
Idola also offers assistance in remediation of issues found during
the review.
Project Management
The success of an engagement is often determined by the quality
of its project management. Idola can provide senior project
managers that can assure the success of the most complex implementations.
All of our project managers follow Idolas standard methodology
that centers on meaningful client communication.
Staff augmentation
To meet the needs of short-term technology staff, Idola has
developed a network of Compliance Professionals, Management
and IT professionals that can be contracted for short and long
term needs. All staff augmentation personnel are subject to
Idola standards and are actively supervised by a senior Idola
manager.
Data Research
Idola has staffed a team dedicated to the research, aggregation
and distribution of information on individuals and companies
throughout the world. Sophisticated software tools along will
skilled research capabilities assure that both the quality and
quantity of the information provided meets the needs of our
clients.
