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Sentry Risk Management


Risk Management:  Anti-Money Laundering  |  Secure Internet  |  OFAC FinCEN Compliance  |  Automated Software Patching


Lending, investing, and online access to funds and information – nearly everything a financial institution does today involves risk. Managing today’s risks requires a balance between business goals and creditworthiness, data integrity, and compliance costs.

COCC’s Sentry Risk Management Services help financial institutions find the balance.

With strategic views of an institution’s risk opportunities plus tools to minimize exposure and avoid financial losses, COCC helps financial institutions:

  • Contain Business Risk using customer centric systems that deliver consistent information across all channels, updated in real time. This approach gives your institution an easy-to-understand framework for all its risk management activities.

  • Protect your Operations with fully automated reporting, activity tracking, and business continuity capabilities that present what you need to know quickly and understandably.

  • Curtail your Exposure with the latest web and fraud filters, backed by email encryption, penetration testing, forensics and much, much more.

  • Strengthen Regulatory Compliance through deep reporting and analysis that can be tailored to individual functions and distributed to appropriate staff and regulators. Automated reporting and archived report specifications enable your institution to document and demonstrate your processes to regulatory agencies.

  • Protect your Payments with industry-leading image solutions that include check trend analysis, positive pay, counterfeit check detection, OFAC/FinCEN screening and structured transaction monitoring.

  • Manage Future Threats to your institution's portfolio value with sophisticated risk modeling and analytics. COCC provides robust solutions to help institutions manage their asset/liability mix in light of market, liquidity and credit risk, while satisfying today’s regulatory requirements.

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Risk Management for Banks

 


Fraud and Anti-Money Laundering


COCC’s next generation Anti-Money Laundering and Fraud suite provides comprehensive BSA/AML compliance, FACTA Red Flags, real time fraud detection, and centralized case management.

Integrated System
COCC’s Anti-Money Laundering and Fraud solution is integrated with the INSIGHT core banking and eBanking platforms, providing COCC clients with next generation automation and analytics. Real time fraud information gives you timely alerts when you need them most.

Complete Visibility
Financial institutions receive a ‘big picture’ view of their customers’ or members’ financial activities. Analyses are based on multiple channels, including transactions, demographics, and account changes. Results are reported via automatic alerts and dashboard displays.

Behavior-Based System
Clients rely on COCC’s behavior-based technology to detect criminal tactics, alert appropriate staff, and electronically deliver fully documented reports to the authorities. There’s no need to develop and manage complex rules with COCC’s solution.

Greater Efficiencies
COCC’s behavior-based technology ensures that only abnormal activity is highlighted for consideration. Less time is wasted reviewing false alerts, creating more robust regulatory compliance and more efficient fraud detection processes.

Less Maintenance, More Backup
Because COCC hosts the Anti-Money Laundering and Fraud solution; your institution is freed from all the maintenance, troubleshooting, and upgrade processes required for complex computing systems.

Learn more by contacting the Strategic Product Group at StrategicProducts@cocc.com or by calling 877-678-0444 x248.

 

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Anti Money Laundering


Secure Internet


Security Architectures
A company's security policy dictates they way they conduct network security at every level. This included consistent, automatic auditing against internal, industry and regulatory rules and standards. With network and information security specialists on staff, COCC is well equipped to deliver data security solutions to fortify existing security policies or implement a new one.

 

Every organization will benefit from proven expertise for:

  • Vulnerability assessments to audit enterprise security

  • Full network discovery, asset mapping and correlation

  • Technical controls for authorization, access control, authentication, controls to applications, databases. networks and firewalls

24 x 7 Communications Monitoring
COCC Monitors all network circuits 24 hours a day and addresses performance line degradation prior to incidents. This process enables COCC to take preventative measures for true backbone support. COCC's monitoring system automatically alerts our technical support staff whenever circuit trouble is detected. Escalations follow business rules.

Internet Access and Managed Security
The Internet has become critical to everyday operations, but it opens as many risks as opportunities. COCC's managed Internet security services are an integral part of our strategic approach to protecting the right assets from the right threats. The service offers high speed Internet access with many security features and secure email solutions.

 

To minimize the risks, this service offers:

  • Fully managed Internet access through a multi-layered firewall

  • Intrusion detection

  • Weekly penetration analysis performed by a third party

  • Email virus protection and notification

  • SPAM blocking filter system

  • Web filtering and application blocking capabilities

  • Monthly activity reports on employee usage, uptime statistics, firewall alerts, penetration test results and security incidents

  • Service Level Agreements for uptime and report delivery

  • Configuration reports designed to simplify IT audits

Email Encryption
Email security concerns have become a primary focus of regulatory agencies, particularly as spam and viruses have attacked an increasing number of home and business computers. Regulations such as the Gramm-Leach-Bliley Act are pressing financial institutions to protect the confidentiality of customer information, secure infrastructure elements, and support Homeland Security initiatives.

The COCC solution encrypts email messages so that only the intended recipients can read them,” said Brent Biernat, COCC’s managing officer for network services. “No additional software is required for either the sender or the receiver. The solution also compares the content of all outbound emails with the financial institution’s rules to ensure that client information is always encrypted. COCC’s custom reporting package will identify which emails were encrypted, quarantined or blocked. This will assist financial institutions during their regulatory examinations.”

 

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Secure Internet


OFAC FinCEN Compliance


The increased convenience of today's global economy presents a burden as well - to ensure the legitimacy of people transacting business at any time. In that effort, the Department of Treasury's Office of Foreign Assets Control's (OFAC) routinely provides lists of “specifically designated nationals” (SDN) to scan against a financial institution’s customer list.

COCC automates this overwhelming task with a next generation scanning service built to comb through your customer database and produce a suspicious persons list for further scrutiny.

 

The advantages of automation are multi-fold:

  • Prompt and thorough cross checks of your institution’s customer list against multiple watch lists

  • Presentation of actionable information only, reducing the time needed to review search results.

  • Streamlined case management for maximum efficiency and superior compliance with all regulations.

Because COCC’s OFAC/FinCEN solution is integrated into core processing system, the efficiencies are multiplied, providing the maximum automation through a single solution for all OFAC compliance, including IAT processing.

 

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OFAC Compliance


Automated Software Patching


Automated software patching is one of the most effective tactics in the war against computer viruses and other cyber crime. COCC has offered this ‘PatchPlus’ service since 2003 when the FDIC and NCUA recommended that financial institutions monitor, test, and document the installation of commercial software patches.

COCC’s PatchPlus service includes:

  • Automated update of the institution’s PCs overnight without human intervention.

  • More than Microsoft software – Adobe, FireFox and more!

  • Complete reporting to document which PCs have been patched and to provide a proper audit trail.

  • Monthly reports of vulnerabilities discovered plus workstations that need further patching.

  • Thorough testing of all software patches prior to installation, ensuring that the patches work with teller, platform and operations systems.

  • Priority patching to allow the institution to determine which PCs get patched first.

With financial institutions depending on commercial software to support their businesses, software patching is now a critical function. Discover why COCC provides software patches to more than 4,000 PCs on a regular basis.

 

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Automatic Software Patching