Fair Isaac InterACT 06

CEO Tom Grudnowski
Bill Fair and Earl Isaac started the company in 1956 in San Francisco

1. Architecture for Enterprise Fraud Management, its vision of a fraud clearinghouse and its research into click fraud.
2. ScoreNet® network, the first "Decision Services Provider" network. This growing network gives businesses access to hosted versions of Fair Isaac solutions, as well as more than 2,000 service providers and 70 third-party databases.
3. Blaze Advisor(TM) business rules management system, the only such system powered by the Rete III algorithm. With Rete III, Blaze Advisor can run complex business rulesets up to 100 times faster than other rules engines.
4. The next phase in the company's EDM architecture for financial services, which will give banks a common platform for their decision management across the customer lifecycle, and connectivity between point solutions for different decision areas.
5. A new approach to customer-centricity called "CustomerHD," which uses leading-edge analytics to give marketers a high-definition view of customers and potential customers.
6. New insights into customer credit issues, including consumer sensitivity to debt load, U.S. and global regulatory issues in financial services, and the implications of HELOCs and debt consolidation for card issuers.

Tips: How to interact with client

Don't Say "No" - Why not let your client carry things to their own logical conclusion? Tell them what you need. If you say "no", tell them what you can do for them within their budgetary or time constraints. Be the person with solutions, not the one who always tells them "no."

Document Verbal Requirements - write down what client is asking for and ask a lot of questions. When you have all the information you need, send a document to the client reiterating in detail what they are asking for. Follow up with them to make sure that your document encompassed everything they need.

Listen to the Complaints - We are in the business of solutions and, like a doctor, if you can find out where the hurt is you can often provide the remedy. Your client's complaints can become some of you most successful innovative ideas.

Stop By Every Day - Try to stop by client's office everyday unless you are expressly asked not to. Keep the conversation light. As you are about to leave their office you can give them a quick update of important projects and what you are going to be working on that day or the next.

Regular Highlights - send out weekly highlights explaining what you are working on and the progress you are making. Also combine all the completed projects into a quarterly highlights document.

~ from "Overcoming Cultural Boundaries - A Necessary Skill of the Management Report Writer" by Joseph Faillace

News: Debit Card Compromise Spreads to Massachusetts

News: Debit Card Fraud Tied to OfficeMax Breach

Link: 10 Questions to Dazzle Would-be Employers

Wow them in your next interview with some thoughtful questions that let you shine!

IT Project Management

Responsible for the IT component of the project which includes managing the IT project scope, schedule, budget, quality, artefacts, project team, communication, issues and risks.

Key Activities
Create and execute project plan
Resolve conflicting priorities
Manage relationship between various stakeholders
Identify and negotiate project resources
Coach, lead and motivate project team members
Evaluate and report on project status
Create, monitor and track control documents
Create IT project artefacts
Manage issues, risks and assumptions
Execute communication plan
Take corrective action as required
Transition to maintenance support team
Initiate project completion survey

Link: www.itpub.net

Link: MyPM.net

CMM

5 levels:

Initial - Processes are ad-hoc, chaotic, or actually few processes are defined

Repeatable - Basic processes are established and there is a level of discipline to stick to these processes

Defined - All processes are defined, documented, standardized and integrated into each other

Managed - Processes are measured by collecting detailed data on the processes and their quality

Optimizing - Continuous process improvement is adopted and in place by quantitative feedback and from piloting new ideas and technologies

Link: Six Sigma

Operational Risk - Why China's Banking Sector Isn't as Weak as It Looks

Jeffrey R. Williams, president of Shenzhen Development Bank (SDB)

Link: Columbia University - Project Management Resource Center

MS Project: Task Types

1. Fixed Units: Units = Work / Duration
Adding/removing resources will
a) decrease/increase the duration
b) increase/decrease the work

2. Fixed Duration: Duration = Work / Units
Adding/removing resources will
a) increase/decrease the units (%) of each resource
b) increase/decrease the work

3. Fixed Work: Work = Units * Duration
Adding/removing resources will always decrease/increase the duration

* Set on-going PM tasks to non-effort driven fixed duration type of task.

job aid: Creating a new MIS Costing Project

1. PM <-> Project Request Form <-> Planning Manager
2. Planning Manager -> Project Request Form -> Finance
3. Finance -> funding -> "Project Initiation"
4. "Project Initiation" -> "Schedule Manager" -> "Project Schedule" -> "Project Server"
5. "Project Number and Details" => Project Manager, Finance, Planning Manager

News: Debit Card Fraud Tied to OfficeMax Breach

News: Citibank Confirms Fraud in Canada, UK, Russia Linked to Breach

Why AML is like CRM?

Know Your Customer

Lessons Learned

Don't let a business analyst draft the interfacing file format as it requires too much more technical knowledge than she/he usually has.

job aid: work month

1WM = $12,950

Automation Versus The Human Factor: Which Anti-Money Laundering Defence Mechanism Works Best?

Automated cross-checking customer names against black-list databases is only part of the solution. the human factor has always been the most effective weapon against money launderers.