Sanction Screening Vendor & Design Advisor for AI Company
An AI Startup Hired FTI Consulting to Help Establish Their Sanctions Compliance Program
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September 25, 2024
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FTI Consulting was engaged under privilege by an AI company’s outside counsel to serve as an independent consultant to advise on the design and implementation of its third-party sanction screening vendor solution.
Our Impact:
- FTI Consulting advised and provided the client with various control recommendations to detect and mitigate risk exposure based on business requirements, best practices and industry and regulatory expectations.
- Our experts provided documentation and supporting workpapers as key program artifacts.
- In addition to the complete review of hundreds of alerts during the engagement, FTI Consulting continues to serve as the client’s interim alert review team.
- The team’s advisory efforts were memorialized in several memos and program documents based on underlying data analytics, supporting work papers and FTI Consulting’s subject matter expertise and regulatory expectations.
Our Role:
- FTI Consulting’s team of anti-financial crime and data scientists collaborated with the client and its counsel to develop and advise the building out of its sanction screening program and controls.
- Our experts conducted several workshops with the client’s selected sanction screening vendor to design workflows, screening requirements and parameter settings for its automated sanction screening vendor solution model.
- The team performed pre-implementation validation testing and testing of various use cases for quality assurance and to ensure that the model was fit-for-purpose and working as intended prior to going live in production.
- FTI Consulting provided the client with peer benchmarking insights, enforcement action summaries and control inventory documentation to assist with its program design and decisioning, in addition to performing Level 1 and Level 2 alert adjudication and dispositioning on hundreds of alert outputs.
Published
September 25, 2024
Key Contacts
Tilcia Toledo, M.B.A., CFE, CAMS
Senior Managing Director
Senior Managing Director
Senior Director