Use Cases
Streamline Your Operations with Yanez Testing and Tuning
Model Validation
Financial institutions regulated by the OCC or operating in New York must perform model validation of their sanctions screening functions. The OCC has issued specific guidance on properly conducting model validation, but the process can be complex and resource-intensive, typically requiring around 1,000 hours across multiple team members with diverse skill sets.
Yanez Model Validation provides an off-the-shelf software solution that executes and documents all requirements needed for OCC-compliant model validation, satisfying both OCC and NYDFS compliance requirements. While not explicitly required by other regulators such as OFAC and FinCEN, the model validation process ensures that testing and tuning requirements are satisfied.
Vendor Selection
Selecting a new sanctions screening vendor requires a methodical evaluation process. Organizations must create vendor lists, schedule demonstrations, evaluate capabilities and weaknesses, compare pricing, and assess performance. This information must then be analyzed within the context of your specific operations. While time-consuming, this process is essential and often mandated by regulators.​
Yanez Testing and Tuning streamlines this process, significantly reducing time and resource requirements. The platform provides immediate access to pre-integrated vendors, eliminating the need for costly IT resources to build and integrate APIs.​
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Yanez generates synthetic data sets based on your risk configuration across multiple jurisdictions, ensuring consistent testing across providers. The platform evaluates each vendor's name variation detection capabilities, allowing you to compare their performance against your specific needs. You can even benchmark these results against your existing screening system. Yanez simplifies the evaluation process with comprehensive comparison reports and can facilitate introductions to partner vendors, accelerating the selection timeline.
New Sanctions Screening System Implementation
Implementing a new sanctions screening provider requires thorough documentation of the rollout process, including system performance validation, function justification, and coverage verification.
Yanez Testing and Tuning helps ensure comprehensive documentation of these implementation steps. The platform verifies that the screening system aligns with your policies and, when replacing existing systems, enables comparison of past and new behavior while maintaining the detailed audit trail required by internal and external auditors.
Compliance and Auditing
For second and third line of defense teams in financial crime prevention operations, compliance and audit professionals must ensure that business units (first line) properly execute established corporate programs.
Yanez Testing and Tuning supports compliance and audit functions by providing an independent framework for generating test data sets and documenting results. The platform monitors desired behavior patterns and automatically alerts teams to discrepancies between historical and current performance.
Third-Party Risk
Organizations often face risk exposure through third-party partnerships. Multiple financial institutions have faced enforcement actions or consent orders due to inadequate sanctions controls on third parties.
Yanez Testing and Tuning helps organizations monitor their partners' sanctions screening practices. The platform enables automated testing of partner screening systems against your requirements and facilitates auditing of their transaction traffic against expected results. It serves as a collaborative framework where organizations can communicate and coordinate based on sanctions screening performance metrics.
