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BSA/AML Automated Systems Validation: Validation Insights

Wednesday, May 03, 2017 at 10:00AM - 1:00PM

Online Event

  • May 2017

    03 Wed

    10:00AM

  • May 2017

    03 Wed

    1:00PM

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BSA/AML Automated Systems Validation: Validation Insights

Wednesday, May 03, 2017 at 10:00AM - 1:00PM

Fremont, CA

No tickets available

Description
This webinar will discuss the need for the validation process, the expectations of that process and how to address and identify areas of concern when validating the AML process, and the steps to follow and how to deal with it when it doesn't work. Government requirements continue to expand and those requirements continue to place increasing stresses on people and systems. Making sure it works is not only a top priority for compliance but to justify the costs and resources expended. Validation addresses much if not all of those concerns.

Objectives Of The Presentation
  • Why BSA/AML Systems are needed in today's world and the terms that must be understood for those systems to work
  • What the systems are designed to detect and why
  • Validating performance and operations of individual sectors of the system
  • Techniques for validating AML System Compliance and Performance
  • Determining the applicability of the system and its processes
  • Modifications to improve performance and accountability
Why Should you Attend
As automated models continue to be pervasive in bank AML/BSA programs, expectations of risk management practices continue to rise. A significant focus continues to be the validation and optimization of monitoring systems and their AML support systems. A key question that many properly focus on is what must be validated? Is it the system's accuracy in receiving information from the financial institution's core? Is it accuracy in filing CTRs and SARs? Is it the alerts/red flags in identifying high-risk activities and/or customer/members? Are the parameters presented as it relates to rules and are they efficient in eliminating noise through qualified calibration? In applying an effective system it's all these and more.

Areas Covered
  • The parts of an AML system
  • Individual functionality of the AML system
  • Testing of the AML system
  • Validating data and data feeds of the AML System
  • Identify the critical components of executing an effective validation of an AML model consistent with supervisory guidance
  • Bring prescriptive and quantitative approaches to the tuning and optimization of models relied upon for AML compliance that are consistent with recent supervisory guidance
  • Review the elevated levels of examiner expectations in managing and demonstrating an effective AML model risk framework
Who will Benefit
  • AML/BSA officers and consultants
  • AML/BSA software developers
  • Risk and compliance management personnel
  • Regulatory compliance associates and managers
  • Company management & Audit professionals.


For Registration

http://onlinecompliancepanel.com/webinar/BSA-AML-AUTOMATED-SYSTEMS-VALIDATION-508766/MAY-2017-ES-EZEVENT


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

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