How do the customer-counterparty and alert modules work?

Within the LAFT risk management it is very important to make the assessment and identification of risks based on the typical risk factors that your organization has.counterparties module.

The suspicious transactions module is transformed into two new sections, "risk factors" and "alerts", so that you can document all entities involved in unusual transactions and monitor alerts according to the methodology and regulations of the organization. 

→ Remember that you will be able to avail of this module from the Starter plan ⚡.

Risk factors must be monitored in a differentiated way due to the characteristics that can generate their materialization. In Pirani you will be able to create, edit and monitor customers, counterparties, jurisdictions, channels and products based on the information that the organization needs, also you can do it without having a suspicious operation.

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How to create custom fields for risk factors?

Each organization will be able to customize the fields of information that will be requested in the creation of a new risk factor according to the standard or methodology implemented.
To review or create the fields you must go to the top bar of the tool and click on the "gear" figure, then on the left side under system parameterization select "AML" and finally click on the "fields" option.

After entering the field parameterization option, go to the customers or counterparties section. These have separate sections so that you can independently parameterize the form for your customers and counterparties.

⚠️  Before starting the editing of the form and the parameterization of fields, you must know the following functions that these dynamic fields will have: 

1 There are different types of essential and optional fields:

• The essential fields are those that are mandatory and cannot be deleted, they are predetermined by the tool. 
• Optional fields are those that you can delete, make optional or mandatory. 
  
  

2 Types of dynamic fields 

• Short text: You will be able to write up to 150 characters.
• Large text: This option allows you to write up to 1,500 characters.
• Single selection: In this field you can select one of the options. You can also change and assign the name of each of the options.
• Composite single selection: You will only be able to select one option, but you have two fields for each option, one for the option ID and one for the description.
• Date: You can select in the calendar or write the date to have a better visualization and to make calculations, avoid errors and standardize the way of writing the date.
• Numerical: You will be able to write up to 15 digits and use "." to separate thousands and "," to separate decimals.

Important: The fields with single selection have two special functionalities: 

• Bulk Load: You will be able to add the options to choose in bulk. This feature will only show 6 options in the main dashboard, but you can click on add more to view and edit all loaded options.
  
• Add condition: You will be able to condition the options that will be shown after the field according to the option chosen. This functionality is perfect to condition the information to be filled in by a customer, whether a natural person or a legal entity.
  

3 You will be able to add dynamic separators, to add titles and descriptions to give a better structure to the form. To do this you must click on the two "new division" rectangles shown next to the add button.

Finally, after adding and editing the necessary fields, click on the "publish" option at the top right.

How to create a risk factor? 

To create customers and counterparties you must go to the menu on the left side and click on the option customers and counterparties, there will open the section, in which you can create or review the customers or counterparties previously created.

⚡ Customers and counterparties are created independently.

How to associate a risk factor?

Inside the risk module click on the "Risk factors" section and click on the "associate" button, there you will find a list with all the risk factors you have registered and you can choose one or several risks. 
To make the association you must click on the "+" icon on the right side of the risk factor to be selected.

How to edit a risk factor?

Go to the "risk factors" section and go to the type of factor you wish to edit, then choose the factor of interest and click on the "see more" button, where all the details of that factor will appear so that you can modify it. Finally, click the "Save" button and your changes will be registered.

How to delete a risk factor?

If you no longer wish to have the register you can delete it by clicking on the risk factor of interest and a trash can icon will appear on the right side before clicking on it, remember that it will be removed from all the risks to which it is associated. If you are sure, click on the delete button.

How can I parameterize a risk factor?

Within the parameterization module go to the AML section and click on the "Risk Factors" box, there you will find the five preconfigured risk factors and you will be able to create the factors you consider necessary.

How to bulk import risk factors?

To bulk import risk factors you must go to the top bar and click on the gear figure, then go to the left side of the section and click on "AML". Finally on the right side you will find the option "Import".
In this section you will find the bulk import of the system entities, go to the "customers" or "counterparties" section. In this section you will be able to load thousands of risk factor registers in a single file and associate them with the related products and transactions. 

Learn how to import risk factors in bulk in this tutorial.