Four Steps to “Bullet Proof” Compliance Rules

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In today’s world of tight budgets and limited resources, making the most out of your staff’s hours is as important as ever.  In the compliance rule writing space, testing a rule can often be considered a time consuming task, and all too often overlooked as an essential part of the test setup process.

With this in mind, we hope to provide you with the tools for rule-writing projects spanning the range from one-off client requests, to large scale implementations involving thousands of compliance rules.  

1. Set up lab accounts. In order to write rules that are as “bullet proof” as possible, so called “lab accounts” that will be used as model accounts to test against, need to be set up. 

2. Unit test the rules. The purpose of this level of testing is to validate the arithmetic of the test code language on a rule by rule basis.  

3. Use test the rules against live data. The second level of testing, called Use Case testing, should be performed at the account level, with all the necessary tests assigned to it. 

4. Migrate rules to production. Once the unit and use testing has been completed, user acceptance testing can be performed by the end-users who will use the system on a day to day basis. 

If these four steps are completed effectively, you can be confident that your production compliance rules will produce accurate results.

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Related Post: Maintaining Your Compliance Rules Library: Four Things You Should Be Doing And Probably Aren't

This article was authored by Roger Binggeli, Senior Compliance Consultant.  For more information, please contact Roger at rbinggeli@impconsults.com or Jane Stabile at jmstabile@impconsults.com.  Roger can also be reached on 617-314-7415 x118.