How to Optimize Compliance Screening in Business Radar

Compliance screening is a key part of managing regulatory risks. Business Radar offers a structured approach to identifying and managing risks tied to sanctions, politically exposed persons (PEPs), adverse media, and more.

Step 1: Understanding Risk Thresholds

Risk thresholds in Business Radar are predefined to ensure consistency and accuracy in screenings.

• Predefined Categories: Risks are automatically classified into compliance categories such as sanctions, adverse media, or PEPs.

• Automatic Prioritization: The system flags potential risks based on preset parameters, helping you focus on areas of highest concern.

Step 2: Running a Compliance Screening

You can perform a compliance screening by following these steps:

1. Select an Entity: Use the search bar to find a company or individual to screen.

2. Customize Your Screening:

   • Choose “Include All” to screen all related entities.

   • Manually select specific entities or individuals to focus the screening.

3. Run the Screening: Initiate the process, and the system will provide categorized results.

Step 3: Reviewing Screening Results

After completing a screening:

• View Categorized Results: Risks are displayed under categories like sanctions, adverse media, and compliance. Each flagged item includes details to help you make informed decisions.

• Take Action: You can confirm matches, mark items as false positives, or discard irrelevant findings. These actions help refine the overall risk assessment for your records.

Step 4: Saving and Sharing Results

Business Radar provides tools for storing and collaborating on compliance results:

• Binders: Organize your screening results into Binders for easy access and team sharing.

• Audit Trails: Request an audit trail to document actions taken during a screening. This is especially useful for internal reviews or regulatory audits.

Additional Tips

• Regularly review flagged risks to ensure they remain relevant to your compliance objectives.

• Use Binders to create a clear overview of previous screenings and team activity.

Conclusion

By following these steps, you can streamline your compliance screening process and maintain accurate records of your risk assessments.