Bank of America Corporation
System for generation and execution of improved control effectiveness

Abstract:

A system implements changes to improve control effectiveness. The system is typically configured for determining at least one stored control of a plurality of controls similar or identical to a present control from a control library comprising the plurality of controls; extracting a consideration set of indicators associated with the stored control from the control library; applying a regression algorithm on the consideration set of indicators; determining a threshold correlation or threshold number of indicators for inclusion in a final equation relating a subset of the consideration set of indicators with control effectiveness of the control; reducing a number of the subset of the consideration set of indicators based on the threshold correlation or threshold number; finalizing the final equation with the number of the subset, each having a corresponding coefficient; and automatically performing an action configured to improve effectiveness of the control based on the final equation.