Compliance management for emerging risks

Patent metadata

Field	Value
Publication number	US-2021174277-A1
Application number	US-202017121230-A
Country	US
Kind code	A1
Filing date	Dec 14, 2020
Priority date	Aug 9, 2019
Publication date	Jun 10, 2021
Grant date	—

Abstract

Disclosed herein are system, method, and computer program product embodiments for identifying and managing emerging risks. Businesses, such as those participating in regulated industries, may need to regularly monitor enforcement actions that are cited in a variety of sources. Embodiments disclosed herein provide for scraping information from those sources and comparing it to existing risk events in order to determine possible discrepancies that should be assessed.

First claim

1 . (canceled)

2 . A computer implemented method, comprising:
applying, by one or more computing devices, a regular expression search to enforcement information from an enforcement information source to identify first citation data formatted according to a regular form for regulatory citations within the enforcement information; determining, by the one or more computing devices, a classification for the enforcement information associated with the first citation data; classifying, by the one or more computing devices, a risk information document to determine a classification for the risk information document using phrase-based scoring on the contents of the risk information document, wherein the classification for the risk information document is associated with second citation data conforming to the regular form for regulatory citations; comparing, by the one or more computing devices, the first citation data against the second citation data of the risk information document to determine a correspondence between the classification for the enforcement information and the classification for the risk information document; and storing, by the one or more computing devices, the enforcement information in association with the risk information document, based on a match between the first citation data and the second citation data.

3 . The method of claim 2 , wherein the enforcement information source comprises a database of a plurality of enforcement actions.

4 . The method of claim 2 , wherein the enforcement information source comprises a database of a plurality of complaints.

5 . The method of claim 2 , further comprising:
selecting, by the one or more computing devices, a line of business from a plurality of lines of business corresponding to the classification for the risk information document; and notifying, by the one or more computing devices, the line of business of the association of the enforcement information with the risk information document.

6 . The method of claim 2 , wherein classifying the risk information document using phrase-based scoring on the contents of the risk information document comprises:
determining, by the one or more computing devices, the classification of the risk information document by performing the phrase-based scoring against a plurality of risk information documents selected from a plurality of classifications.

7 . The method of claim 2 , further comprising:
presenting, by the one or more computing devices, in an interface, a plurality of discrepancies including a discrepancy based on the association of the enforcement information with the risk information document; and permitting, by the one or more computing devices, arrangement of the plurality of discrepancies on the interface according to a risk level.

8 . The method of claim 2 , further comprising:
scraping, by the one or more computing devices, the enforcement information from the enforcement information source.

9 . A system, comprising:
a memory configured to store operations; and one or more processors configured to perform the operations, the operations comprising:
accessing enforcement information from an enforcement information source;
classifying the enforcement information to determine a classification for the enforcement information using phrase-based scoring on the contents of the enforcement information, wherein the classification for the enforcement information is associated with first citation data conforming to to a regular form for regulatory citations,
classifying a risk information document to determine a classification for the risk information document using phrase-based scoring on the contents of the risk information document, wherein the classification for the risk information document is associated with second citation data conforming to the regular form for regulatory citations,
comparing the first citation data of the enforcement information against the second citation data of the risk information document to determine a correspondence between the classification for the enforcement information and the classification for the risk information document, and
storing the enforcement information in association with the risk information document, based on a match between the first citation data and the second citation data.

10 . The system of claim 9 , wherein the enforcement information source comprises a database of a plurality of enforcement actions.

11 . The system of claim 9 , wherein the enforcement information source comprises a database of a plurality of complaints.

12 . The system of claim 9 , the operations further comprising:
selecting a line of business from a plurality of lines of business corresponding to the classification for the risk information document; and notifying the line of business of the association of the enforcement information with the risk information document.

13 . The system of claim 9 , wherein classifying the risk information document using phrase-based scoring on the contents of the risk information document comprises:
determining the classification of the risk information document by performing the phrase-based scoring against a plurality of risk information documents selected from a plurality of classifications.

14 . The system of claim 9 , wherein classifying the enforcement information using phrase-based scoring on the contents of the enforcement information comprises:
determining the classification of the enforcement information by performing the phrase-based scoring against a plurality of enforcement information documents selected from a plurality of classifications.

15 . The system of claim 9 , the operations further comprising:
presenting, in an interface, a plurality of discrepancies including a discrepancy based on the association of the enforcement information with the risk information document; and permitting arrangement of the plurality of discrepancies on the interface according to a risk level.

16 . A computer readable storage device having instructions stored thereon, execution of which, by one or more processing devices, causes the one or more processing devices to perform operations comprising:
determining that a risk event has occurred based on the presence of enforcement information stored in association with a risk information document in a storage; and retrieving the enforcement information and the risk information document,
wherein the enforcement information is from an enforcement information source and is associated with the risk information document based on a match between first citation data of the enforcement information and second citation data of the risk information document to determine a correspondence between a classification for the enforcement information and a classification for the risk information document,
wherein the classification for the enforcement information is determined using phrase-based scoring on the contents of the enforcement information, the classification for the enforcement information associated with the first citation data conforming to a regular form for regulatory citations, and
wherein the classification for the risk information document is determined using phrase-based scoring on the contents of the risk information document, the classification for the risk information document associated with the second citation data conforming to the regular form for regulatory citations.

17 . The computer readable storage device of claim 16 , wherein the enforcement information source comprises a database of a plurality of enforcement

Assignees

• Capital One Services Llc

Inventors

• Kumar Lokesh Vijay
• Chikkaveerappa Satish
• Unnikrishnan Sasi Kumar
• Parcha Venkata Satya
• Subramanian Ponnazhakan

Classifications

• G06Q10/0635 Primary

  Risk analysis of enterprise or organisation activities · CPC title

• G06F21/604

  Tools and structures for managing or administering access control systems · CPC title

• G06Q10/067

  Enterprise or organisation modelling · CPC title

• G06F16/90335

  Query processing · CPC title

• G06F40/30

  Semantic analysis · CPC title