BSA/AML Automated Systems Validation: Validation Insights

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

Event Details

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


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

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Contact Information

Organization: Online Compliance Panel LLC

Event Contact: OCP Panel

Phone: 15108575896