Contact settings serve the purpose of adding and altering contact types and their corresponding risk levels. Every contact falls into a specific contact type, which proves beneficial for streamlined searches, application of specific descriptors, and targeted compliance policies. Additionally, some contacts may function as relationship owners.
Steps
- From the right corner on Settings go to Contacts
- Navigate between the sections Types and Risk
- Click on Add or double click on some of the existing to edit
- Put information on the fields
- Click Save
- Each contact you add needs to have a contact type. The type can be adjusted accordingly by opening one contact on edit. You can search the contacts by their types. In the settings, while adding or editing a contact type, you have the option to choose “Compliance Required” indicating that the compliance level will be calculated. This level directly affects your overall compliance status.
- Types of Risk are added in the risk section. Additionally, the review frequency and associated reminders are specified. When you access an individual contact, you can observe the risk calculation process. The risk review, as determined by the specified frequency (or done at any time), is also needed for increasing the compliance level of a specific contact.
Good to know
- Risk levels are calculated only for contact types that have compliance
- Specific descriptors and compliance policies can be designated for certain contact types, put in the descriptors and compliance settings
- Compliance is often used for contacts to check if they fit your business, monitor how they affect you, or screen and verify their identity, actions, and potential risks in illegal activities
Related topics
- Contact Risk
- Descriptors settings