create a summary for management from the below information WESTPAC:

Attendees:
 
Gabriel Van Duinen - regulatory research / customer centric / etc. 
Sricharan Jayavarapu
Gail Carter - Group sanctions officer - all external engagement and internal policy standards / oversight
 
Carla Lewis
Monil Gupta

CURRENT PDFs
 
Before we turn to the new assessments, it would be great to understand how you use the current pdfs as that will obviously have a bearing on the suitability of the new assessments. I'd be grateful if you could share a few details with me in terms of:
•	Who uses the pdfs?
All money laundering officers and their teams around offices.
Latitude groups - 
Most by on-shore operations teams 
•	When do you use them?
o	Use them in operational space - trade finance and payments screening - stopping all activity where a potential sanctions match - gets cleared as a false positive but anything ese escalated to group sanctions and then the decision.
•	How often do you use them?
o	7-10 minutes to do one
o	10,20,30 times a day - heavy use and a core part of the programme
o	Will sometimes go back to check the pdfs and see what assessment has been carried out.
•	Where do they go once completed?
o	Saved with the transaction - to provide an audit trail - hope there is a print function
•	How long does it take to complete a pdf?
•	Which trees do you use the most?
o	Anything to do with Russia
o	US/Venezuela tree also used quite a bit
o	All getting used so subscribed to the right ones. 
•	Feedback
o	Quite long (operations)
o	Sometimes operations would like a bit more guidance.
•	Particularly for Russia - can be quite off putting. Sometimes don't fill them in when should have. 
o	You do know at the end of it if a transaction is permissible or not - seen other banks not use trees and it sounds like they do have 
o	Gives a legal position without going to lawyers
o	Other bank - anything triggers goes to legal. 
•	Including triage - very expensive 
o	Gives the evidence of the quality of the due diligence in the transaction 
o	Some of the legal terms - where no background a large variation of skill levels (banking to no experience at all).
•	Why am I filling in this tree?
o	Not everyone ticks any boxes - just tick on the relevant page
o	Sometimes in operations teams and get bored - they fill in a proforma - 
 
o	Switch on of MX???
•	Have trees from McMillan and Russel McVey - how would 
o	Give them access to the portal
•	Wouldn't want to add this as an additional capability - more time 
 
Are there any particular frustrations with the current pdfs?
 
DEMO
 
USE UK DECISION TREE
 
Things to note:
•	Based on an old version of the decision trees so there may be some differences to what you are used to.
•	Transaction name
o	Transaction reference number
•	Defined terms glossary
•	One-strike and you're out
•	Threshold questions
•	Assessment summary at the end
 
FEEDBACK
 
Questions:
•	First impressions?
•	One-strike and you're out - can we assume that this is sufficient? Don't need to complete the whole assessment?
•	Assessment summary at the end suitable to your way of working and recording requirements?
•	Assuming the price is comparable to the subscriptions you currently pay, is this something you would be interested in?
 
Questions from Westpac:
•	IT security
o	Keen to know all about that - it would change the security classification - at the moment only 
•	Currently on-boarded at the lowest risk category
•	Once start moving 
o	Cyber-crime risks. 
o	Westpac expects triple A plus.
•	Use Net Reveal (now Symphony AI - our of Ireland) as screening
o	Good to know whether there is an opportunity to integrate it in any way.
o	This is a marked improvement already in terms of interface. 
o	Time in motion
o	Could add a link to the assessment
o	Westpac have a very complex environment
•	Can we add time / time zone as well as date for assessment
•	Also add date for when sanctions regulations last updated
o	Service levels - 5-10 days
•	Can we have access to the previous decision trees - to repeat an assessment if not completed properly.
o	Is there a way to print all the questions blank after a cut-over. Version control. 
•	Currently can go back to every version previously produced. 
•	Ideally - blank questionnaire appended to the printable pdf.
•	If add other trees - can we filter by jurisdiction.
•	Contract due for renewal in September
o	Due to kick-off internally - need to think about in terms of pricing. 
o	Big one for Westpac - easier to get approval at a fixed price for several years - rather than a varying price.