Surveillance Program Design and Behavioral Analytics Implementation

Transcription

1 Surveillance Program Design and Behavioral Analytics Implementation Scott Jarrell Senior Manager EY #AnalyticsX C o p y r ig ht 201 6, SAS In sti tute In c. Al l r ig hts r ese rve d.

2 EY Fraud Investigation & Dispute Services Surveillance program design and behavioral analytics implementation Using forensic data analytics to monitor insider risks

3 Agenda The need for a robust surveillance program: a continual balancing act Surveillance program design: critical factors of a successful surveillance strategy Behavioral analytics: detecting patterns of behavior related to insider risk Surveillance analytics framework: a holistic and modular approach Demo Page 2 August 2016 Surveillance program design and behavioral analytics implementation

4 The need for a robust surveillance program A continual balancing act EY point of view: Given the growth of new forms of e-communications and the increase in regulatory scrutiny, it is essential for financial institutions to transition from reactive, check-the-box surveillance systems and adopt robust, proactive e-communications surveillance programs that focus on employee behavior, not solely on the data. Evolving regulatory requirements Technology and operational costs Grow th and innovation Advanced data analytics Page 3 August 2016 Surveillance program design and behavioral analytics implementation

5 Surveillance program design Critical factors of a successful surveillance strategy Successful surveillance programs leverage leading practices across people, processes, and technology. Governance model strengthened through cross-functional collaboration Clear understanding of the organization s data and the systems w here the data resides Capacity and scalability to handle large and evolving data volumes from multiple data sources (structured and unstructured) Phased implementation approach that aligns w ith business priorities and risk tolerance Compliance w ith internal policies, privacy concerns and industry-specific regulations, w hile also taking an organization s culture into consideration Holistic view enhanced by interactive visualization, w orkflow and reporting capabilities Ongoing process improvement Page 4 August 2016 Surveillance program design and behavioral analytics implementation

6 Behavioral analytics Detecting patterns of behavior related to insider risk Focuses on the emotional or evaluative content within electronic communications Takes a holistic and human view by fusing multiple data sources, typically including transactional data, s, HR data and web-browsing activities Supervised keyword mining Unsupervised concept mining Emotive tone Exported corpus 1,671,004 Unique items 1,480,580 Applied queries 184,847 Also used in predictive and prescriptive analysis, highlighting patterns that match those that have previously been linked to misconduct, fraud or noncompliance Relevant actors/projects Global deduplication Documents categorized by risk scores determined by the number of hits Risk score 7 1,420 Of interest 33 Needs to be rationalized around data privacy considerations Page 5 August 2016 Surveillance program design and behavioral analytics implementation

7 Surveillance analytics framework A holistic and modular approach Leveraging a big data platform, the framework consolidates a wide range of data sources to help you risk-score and prioritize a company s insider population. The modular design enables organizations to use a phased implementation approach that aligns with business priorities and risk tolerances. Page 6 August 2016 Surveillance program design and behavioral analytics implementation

8 EY Assurance Tax Transactions Adv isory About EY EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com. Ernst & Young LLP is a client-serving member firm of Ernst & Young Global Limited operating in the US. About EY s Fraud Investigation & Dispute Services Dealing with complex issues of fraud, regulatory compliance and business disputes can detract from efforts to succeed. Better management of fraud risk and compliance exposure is a critical business priority no matter the industry sector. With our more than 4,200 fraud investigation and dispute professionals around the world, we assemble the right multidisciplinary and culturally aligned team to work with you and your legal advisors. We work to give you the benefit of our broad sector experience, our deep subject-matter knowledge and the latest insights from our work worldwide Ernst & Young LLP All Rights Reserved ED None This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax or other professional advice. Please refer to your advisors for specific advice. ey.com

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10 #AnalyticsX C o p y r ig ht 201 6, SAS In sti tute In c. Al l r ig hts r ese rve d.