For those that have an automated software for alerts/monitoring, how do you handle EDD reviews for high risk members? Do you rely on the alerts and then review based on those or do you establish a regular review period just based on the fact they are high risk?

Read this: https://www.ffiec.gov/press/pdf/Cus...view%20and%20Exam%20Procedures-FINAL.pdf

I think you'll find every institution does this somewhat differently and each software provides different tools.

We treat alerts for suspicious activity and high-risk monitoring completely separately. Alerts need to be addressed as they're created. High risk customers are on review cycles. We use our software to risk rate customers and determine when they must be reviewed.