Patent ID: 7899722
Filing Date: 2011-03-01
Classification: G06F,G06Q

Abstract:
1. A processor-implemented method for managing risk associated with a correspondent account, the method for comprising: receiving, by a domestic financial institution, regulatory risk management certification information from a foreign bank related to the correspondent account, the regulatory risk management certification information including documentation identifying an owner of the foreign bank and the name and address of a person residing domestically that is authorized to accept service of legal process for records regarding the correspondent account; aggregating via a processor the received regulatory risk management certification information into a searchable storage structure; applying a data scrubbing component routine to the aggregated regulatory risk management certification information to enhance data formality; storing the aggregated and scrubbed regulatory risk management certification information in compliance with the searchable storage structure in a computer server; receiving a request to register the regulatory risk management certification information from a requestor; receiving and responding to a request for guidance for facilitating registration of the regulatory risk management certification information; registering the regulatory risk management certification information with a risk management clearinghouse; and outputting, in response to the registration request, the registered regulatory risk management certification information to the requestor.