AML Model Validation: A Critical Need in the New Regulatory Environment

Wednesday, May 10, 2017 at 10:00AM - 1:00PM
Fremont, CA

Event Details

This training program will discuss the history and origin of a model validation. It will also discuss the requirements by the OCC for a model validation, and what exactly a model validation should include. The session will also cover the elements of a model validation in-depth to know what to look for in an RFP.

Objectives Of The Presentation
  • Learn the history and origin of a model validation
  • Discuss the requirements by the OCC for a model validation and what exactly a model validation should include
  • Where we're seeing the regulatory pressure to complete a model validation
  • What a sample project plan should look like
  • Cover the elements of a model validation in-depth, to know what to look for in an RFP
  • Discuss the importance of statistical data analysis and its importance in the final report
  • Discuss vendor due diligence - how to select a vendor familiar with the in-depth nature of the project and being able to recognize their independence
Why Should you Attend
  • According to the Office of the Comptroller of the Currency (OCC), 'banking organizations should conduct a periodic review-at least annually but more frequently if warranted-of each model to determine it is working as intended and if the existing activities are sufficient.' This has become known in the industry as a model validation, system validation, independent verification and validation (IVV) or just validation. The challenge we've seen is interpreting this - what is a model, which models, what a review should include etc.
  • As such we've seen a number of organizations conduct one, either internally or independently, often missing elements to the model that couldn't possibly validate an institution's model without them. This webinar will cover a number of topics: The history of a validation - where it comes from, what it means according to the OCC, what elements should a model validation include, the importance of conducting one, how often one should be conducted, what to look for in an RFP and vendor due diligence.
Areas Covered
  • The definition of a model validation according to the OCC
  • How often a model validation should be completed according to the OCC
  • The origin of the term independent verification and validation and how that relates to today's model validation
  • Where the regulatory pressure has been to conduct an AML model validation
  • What elements should be reviewed during an AML model validation
  • What qualifies as a model validation, and what does not
  • What a sample model validation project plan would look like
  • Vendor due diligence - selecting a vendor for your AML/BSA projects
  • Definition of vendor independence
Who will Benefit
  • BSA/AML Officers
  • Compliance Officers
  • Sanctions Officers
  • AML Analysts
  • Risk Officers
  • Legal Departments
  • Risk Managers & CEOs/Presidents at Banks, Broker-Dealers, Money Services Businesses and Other Non-Bank Financial Institutions.

For Registration


Note: Use Promo code WE3PL and get 10% off on registration (Valid till MAY 31st 2017)

Organization Details

Online Compliance Panel (OCP) creates and delivers comprehensive industry relevant training sessions. These sessions are simple, interactive and cost effective. We are a predominantly web based information exchange forum. Live interactions on compliance training make the process holistic and effective. OCP largely emphasizes in offering regulatory compliance training to compliance professionals on varied topics. These primarily include risk management, quality management, corporate compliance and other regulatory compliances. Some of our primary areas of focus include advancement and updates in regulatory compliance, best practices and market trends.

We strive to incorporate high standards in developing a culture facilitating exchange of ideas resulting in functional excellence. OCP believes in nurturing ideas and thought processes through innovative e-learning methodologies. Our products and services are designed to offer customized solutions to industry and market. We bridge the gap between experience and knowledge thus delivering original and creative content.

Our objectives of employing interactive mediums ensure effective communication and mutual exchange of ideas. OCP closely follows best practices and regulatory trends in the global compliance scenario. We also observe and communicate trends witnessed in FDA, ISO regulations, process and design validation. All updates and additions to important laws can be accessed by our customers in real time.

Our mission is to empower compliance professionals through effective online training sessions. Our world class training methodologies stem from comprehensive understanding of client requirements. The content conforming to FDA and ISO standards is developed by well qualified and experienced industry leaders. Our offerings will exceed expectations and add value to your investment.

The content in various categories such as medical devices, pharmaceuticals and biotechnology will raise the bar in terms of quality already on offer .We hope to contribute to the creation of responsible organizations creating benchmarks in quality, integrity and transparency.

Online Event
38780 Tyson Lane, Apt 210
Fremont, CA 94536

Starts May 10, 2017 at 10:00AM - 1:00PM

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Contact Information

Organization: Online Compliance Panel LLC

Event Contact: OCP Panel

Phone: 15108575896