AUTOMATED GLOBAL RISK MANAGEMENT
A computerized risk management method and system for facilitating analysis and quantification of risk associated with a financial transaction. An automated global risk management system maintains a database relating risk variables including world events government advisories, and other information sources with potential risk for a financial institution. The system generates a risk quotient or other rating based upon a weighted algorithm applied to the criteria, wherein the risk quotient is indicative of risk associated with a financial transaction or account. The quotient can be monitored on a periodic basis, during the course of a transaction, or on demand. Actions commensurate with a risk quotient can be presented to a financial institution to help the institution properly manage risk associated with a particular entity or transaction. A log or other stored history can be created such that utilization of the system can mitigate adverse effects relating to a problematic account.
1 .- 25 . (canceled)
26 . A processor-implemented method for managing risk related to a financial transaction, the method comprising:
gathering data related to risk variables for a financial transaction;
receiving information relating to details of the financial transaction;
structuring the information received according to risk quotient criteria associated with the risk variables;
calculating a risk quotient referencing the structured information and the gathered data, wherein the risk quotient is indicative of risk associated with the financial transaction;
monitoring via a processor the risk quotient during the course of the financial transaction;
generating a plurality of suggested actions derived from monitoring the risk quotient; and
generating a diligence report based on the risk quotient the plurality of suggested actions.
27 . The method of claim 26 wherein calculating the risk quotient comprises:
multiplying a weighted numerical value by a risk category weight, wherein the weighted numerical value is derived from an assigned numerical value of the structured transaction information.
28 . The method of claim 26 , wherein one of the plurality of suggested actions is additionally responsive to the transaction information received.
29 . The method of claim 26 , wherein one of the plurality of suggested actions comprises refusing to perform the financial transaction.
30 . The method of claim 26 , wherein one of the plurality of suggested actions comprises Mocking acceptance of an account.
31 . The method of claim 26 , wherein one of the plurality of suggested actions comprises notifying an authority.
32 . The method of claim 26 further comprising aggregating risk quotients relating to a financial institution to assess a level of identified risk to which the financial institution is exposed.
33 . The method of claim 26 , further comprising calculating an average risk quotient associated with the financial transaction.
34 . A computerized system for managing risk associated with a financial transaction, the system comprising:
a computer server accessible with a network access device via a communications network and executable software stored on the server and executable on demand, the software operative with the server to cause the system to:
gather data related to risk variables for a financial transaction;
receive information relating to details of the financial transaction;
structure the information received according to risk quotient criteria associated with the risk variables;
calculate a risk quotient referencing the structured information and the gathered data, wherein the risk quotient is indicative of risk associated with the financial transaction;
monitor the risk quotient during the course of the financial transaction;
generate a plurality of suggested actions derived from monitoring the risk quotient; and
generate a diligence report based on the risk quotient the plurality of suggested actions.
35 . The computerized system of claim 34 wherein calculate the risk quotient comprises:
multiply a weighted numerical value by a risk category weight, wherein the weighted numerical value is derived from an assigned numerical value of the structured transaction information.
36 . The computerized system of claim 34 , wherein one of the plurality of suggested actions is additionally responsive to the transaction information received.
37 . The computerized system of claim 34 , wherein one of the plurality of suggested actions comprises refusing to perform the financial transaction.
38 . The computerized system of claim 34 , wherein one of the plurality of suggested actions comprises Mocking acceptance of an account.
39 . The computerized system of claim 34 , wherein one of the plurality of suggested actions comprises notifying an authority.
40 . The computerized system of claim 34 further comprises aggregating risk quotients relating to a financial institution to assess a level of identified risk to which the financial institution is exposed.
41 . The computerized system of claim 34 further comprises calculating an average risk quotient associated with the financial transaction.