Automated Decision Support for Financial Regulatory/Policy Compliance, using Textual Rulelog

Benjamin Grosof; Janine Bloomfield; Paul Fodor; Michael Kifer; Isaac Grosof; Miguel Calejo; Terrance Swift

Automated Decision Support for Financial Regulatory/Policy Compliance, using Textual Rulelog

Benjamin Grosof
, Janine Bloomfield
, Paul Fodor
, Michael Kifer
, Isaac Grosof
, Miguel Calejo
, Terrance Swift

Computer Science

Stony Brook University

Research output: Contribution to journal › Conference article › peer-review

1 Scopus citations

Abstract

We present a novel technological approach, based on Textual Rulelog, to automated decision support for financial regulatory/policy compliance, via a case study on banking Regulation W from the US Federal Reserve. Legal regulations and related bank operational policies in English documents are encoded relatively inexpensively by authors into Rulelog, a highly expressive logical knowledge representation. Key compliance queries are automatically answered accurately and fully explained in English, understandable to non-IT compliance staff and auditors. The prospective business impact of our approach over the next decade or two is significantly increased productivity and systemic stability, industry-wide, worth many billions of dollars.

Original language	English
Journal	CEUR Workshop Proceedings
Volume	1417
State	Published - 2015
Event	9th International Web Rule Challenge at the 9th International Web Rule Symposium and 5th Doctoral Consortium, Challenge+DC@RuleML 2015 - Berlin, Germany Duration: Aug 2 2015 → Aug 5 2015

Cite this

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title = "Automated Decision Support for Financial Regulatory/Policy Compliance, using Textual Rulelog",

abstract = "We present a novel technological approach, based on Textual Rulelog, to automated decision support for financial regulatory/policy compliance, via a case study on banking Regulation W from the US Federal Reserve. Legal regulations and related bank operational policies in English documents are encoded relatively inexpensively by authors into Rulelog, a highly expressive logical knowledge representation. Key compliance queries are automatically answered accurately and fully explained in English, understandable to non-IT compliance staff and auditors. The prospective business impact of our approach over the next decade or two is significantly increased productivity and systemic stability, industry-wide, worth many billions of dollars.",

author = "Benjamin Grosof and Janine Bloomfield and Paul Fodor and Michael Kifer and Isaac Grosof and Miguel Calejo and Terrance Swift",

note = "Publisher Copyright: {\textcopyright} 2015 CEUR-WS. All rights reserved.; 9th International Web Rule Challenge at the 9th International Web Rule Symposium and 5th Doctoral Consortium, Challenge+DC@RuleML 2015 ; Conference date: 02-08-2015 Through 05-08-2015",

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language = "English",

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journal = "CEUR Workshop Proceedings",

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TY - JOUR

T1 - Automated Decision Support for Financial Regulatory/Policy Compliance, using Textual Rulelog

AU - Grosof, Benjamin

AU - Bloomfield, Janine

AU - Fodor, Paul

AU - Kifer, Michael

AU - Grosof, Isaac

AU - Calejo, Miguel

AU - Swift, Terrance

PY - 2015

Y1 - 2015

N2 - We present a novel technological approach, based on Textual Rulelog, to automated decision support for financial regulatory/policy compliance, via a case study on banking Regulation W from the US Federal Reserve. Legal regulations and related bank operational policies in English documents are encoded relatively inexpensively by authors into Rulelog, a highly expressive logical knowledge representation. Key compliance queries are automatically answered accurately and fully explained in English, understandable to non-IT compliance staff and auditors. The prospective business impact of our approach over the next decade or two is significantly increased productivity and systemic stability, industry-wide, worth many billions of dollars.

AB - We present a novel technological approach, based on Textual Rulelog, to automated decision support for financial regulatory/policy compliance, via a case study on banking Regulation W from the US Federal Reserve. Legal regulations and related bank operational policies in English documents are encoded relatively inexpensively by authors into Rulelog, a highly expressive logical knowledge representation. Key compliance queries are automatically answered accurately and fully explained in English, understandable to non-IT compliance staff and auditors. The prospective business impact of our approach over the next decade or two is significantly increased productivity and systemic stability, industry-wide, worth many billions of dollars.

UR - https://www.scopus.com/pages/publications/85181850281

M3 - Conference article

SN - 1613-0073

VL - 1417

JO - CEUR Workshop Proceedings

JF - CEUR Workshop Proceedings

T2 - 9th International Web Rule Challenge at the 9th International Web Rule Symposium and 5th Doctoral Consortium, Challenge+DC@RuleML 2015

Y2 - 2 August 2015 through 5 August 2015

ER -

Automated Decision Support for Financial Regulatory/Policy Compliance, using Textual Rulelog

Abstract

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