About risk factors
Our risk models use risk factors to measure an assessment's risk level.
You choose which risk factors to include in your risk model. There are different risk factors for individual entities and company entities.
When the risk model is applied to an entity's assessment, the entity's details are checked against the condition of every risk factor rule to see if any conditions match.
The result impacts the assessment's total risk score as follows:
If a rule’s condition matches, the risk score for that rule is added to the assessment's total risk score.
If the conditions for multiple rules match, the highest risk score is used.
If the entity data required to match conditions is missing, the risk score is undetermined and no risk score is applied to the assessment's total risk score.
You can also group risk factors and apply the highest, lowest, mean, or sum of risk scores in the group to the total.
An assessment's risk score is recalculated in any of the following circumstances:
A user changes any of the entity's details manually. For example, if a user updates an individual’s address, the risk score is recalculated even if the Country of residence and Postal code risk factors are not used in the risk model.
An automated check returns new/updated results for an entity. For example, a new PEPs match is found for a company during ongoing monitoring. The risk score is recalculated any time a potential match is found.
A significant date for one of the entity details is reached. For example, on the date of an individual’s Date of birth, the individual’s age is automatically recalculated, and the Age risk factor is impacted. The risk score is only recalculated when the significant date impacts a risk factor used in the risk model.
If a change impacts one risk factor in the risk model, the entity is re-evaluated for all risk factors in the risk model.
About risk factor configuration
You choose which rules, conditions, and risk scores are used for each risk factor in your risk model.
For most conditions, you also provide a list, some text, or a number range to be matched with the entity’s data. Lists are always case-sensitive. Text is optionally case-sensitive.
For example, you might choose this for the Country of residence risk factor:
Rule | Conditions |
|---|---|
If an individual's country of residence is in Western Europe, add 0 to the assessment risk score. | The individual's country is included in this list: Belgium, France, Ireland, Luxembourg, Monaco, Netherlands, United Kingdom |
If an individual's country of residence is in North America, add 100 to the assessment risk score. | The individual's country is included in this list: Canada, United States |
If an individual's country of residence is anywhere else, add 999 to the assessment risk score. | The individual's country is not included in this list: Belgium, Canada, France, Ireland, Luxembourg, Monaco, Netherlands, United Kingdom, United States |
See the links in the Additional information section for lists of available risk factors, along with the conditions you can use for each one.
When you define your risk model, you can choose to make any of these risk factors required or non-required. To learn more, see the definition of Risk models in Introduction to Maxsight's terms.
Associate risk scores are calculated differently from assessment risk scores. For associate risk factor calculations, see Associate risk score calculation.