Interview questions for Actimize

1) What is Actimize tool?

Actimize open analytics gives your users the control they need to respond quickly to challenges and meet your organization’s unique business needs. The highly flexible and scalable Actimize platform and our easy-to-use development tools allow your users to take charge.

2. How to Display your achievements as Monitoring and Evaluation Specialist?

There is absolutely no harm in displaying some of your big achievements to the interviewing panel. More especially if it is really related to the kind of programme they intend to implement over the years. Take for example, if they are recuiting a Monitoring and Evaluation Officer for a gender programme they are about to implement and you were fortunate to have conducted a gender evaluation as a consultant months before the interview, why not show them your Evaluation Report

3. What is NICE Actimize Anti-Money Laundering (AML)?

Actimize’s Intelligent AML Solution Suite empowers organizations to proactively manage end-to-end AML risk by intelligently and efficiently correlating financial crime activities to ensure cost-effective AML operations and a positive, holistic customer experience.

4. How to check clarity in monitoring and evaluation specialist?

Make sure you answer questions in a clear and confident way. Interviewers are interested in a Monitoring and Evaluation Officer who is able to communicate clearly. Why is this so important? Well when you will be called to do a powerpoint presentation on your Monitoring findings infront of a wide audience, you have to be able to communicate it in a clear but effective way. When the interviewers ask you questions, answer the question as it comes and don’t include things that are not related at all to the topic. Be yourself.

5. What is the use of using Nice Monitor?

Nice monitor is used for monitoring live audio in the applications.

6. What Are Tangible Assets?

Tangible Assets are those assets which we can see or touch like fixed asset ,machinery,etc.

7. What Is Non Statutory Audit?

This is the audit not specially required by law this scope of the audit will be outline by the contract between the auditor and the clients.

8. Do You Know The Different Types Of Audits?

o Statutory Audit
o Non-statutory Audit
o External Audit
o Internal audit
o Final Audit
o social audit
o performance Audit

9. Why do we use Nice Supervision?

NICE Supervision is used, if there is any fault in the application then the alarms are generated to acknowledge the same.

10. What is Model Validation in Nice Actimize?

In Nice Actiize model validation is a set of instructions or defined workflow which actually doubles checks whether the entire system is functioning as it is supposed to be.
To be specific a model validation is nothing but a collection of processes and set of activities which are executed to verify whether the fraud models are executed and validate as it is expected to be.

11. What Is The Mean Of Internal Audit?

Internal Audit is an audit, it is carried out either by a separate department within the bank or a firm of chartered accountant.

12. What Are The Basic Principles Of An Internal Audit Control System?

The basic principles of financial internal control are explained below:Financial and accounting operations must be separated that is the handling of cash and the recording of the movement thereof should be done by different persons. Responsibility for the performance of the job must be clearly stated so that there may be no room for doubt or confusion subsequently.
Too much confidence should not be pinned in one individual. Nearly all frauds have been committed by trusted officials or employees. It is interesting to note that frauds have occurred owing to their being trusted. Relation principle relating to transfer of an employee from one job to another should be the inflexible guiding rule. This is an effective safeguard against collusion and is recognized as an important canon of sound organization.
Mechanization of the work wherever feasible and practicable should be resorted to, mechanical devices such as cash register, recording time clocks, calculation machines should be introduced. A system of control accounts should elegantly be fitted in the book keeping system.
The work should be so arranged that work done by one employee should be properly checked by independent employee. Such continuous and constant checking goods moral control and the errors and the frauds cannot go undetected.

13. How Can Scope Of Internal Audit Help You?

Internal audit is an independent appraisal function which is established by the management of an organization for the review of its internal control system as a service to the organization. To learn about the scope of internal audit.

14. What Are Objectives Of Internal Audit?

The purpose of internal audit is to keep proper control over business activities. When there is proper control there is maximum efficiency. The internal auditor determines the degrees of control over work. The purpose of internal audit is to evaluate the accounting system. It is concerned with checking proper authority for transactions like purchase, retirement and disposal of fixed assets. The vouchers can be compared with entries in order to determine that figures are facts.
The purpose of internal audit is to help the management. Internal auditor can point out the weakness. The internal audit can be used as a tool to correct the situation. The management functions can be performed properly. The purpose of internal audit is to review the working of business. The working of current tear can be reviewed in detail just to note the successful area of working. There is a need to locate the weak points. The corrective measures can be taken for proper working.

15.  Explain Key Elements that are needed for a Model Validation Framework?

The key elements that are needed for a model validation framework are as follows:
• First and foremost evaluation of conceptual soundness
• Ongoing monitoring and process verification to validate the model functionality
• Outcome analysis. It is helpful for comparison of expected output vs output came through.