Webinar: The Bank Secrecy Act and Anti-Money Laundering programs

Event Info

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As dependency on automated Anti-Money Laundering (AML) monitoring systems is ever increasing and resources must be efficiently utilized, the need for strong AML system validation and calibration has never been more important. The Bank Secrecy Act / Anti-Money Laundering (BSA / AML) programs are becoming increasingly reliant on automated models in detecting suspicious activity, measuring risk and supporting key business decisions.

Over the past year, one of the most commonly cited areas of examiner criticism is about the concept of sound AML model risk management. Model validation has been a significant requirement of the regulators over the past couple years and the expectation of validation is increasing. Regulatory examination bodies have added model specialists, released supervisory guidance and increased regulatory enforcement actions related to sound and effective management of model risk specific to AML.

Improving the efficiency of a BSA / AML System is an ongoing exercise and this webinar walks through the components of a model validation and the keys to effective AML model risk management.

Key learning objectives

  • Comprehend at a high-level overview the BSA
  • Understand model system validation best practices
  • Learn about tuning and optimizing the AML model
  • Gain an understanding of structuring an appropriate governance program

Who should attend

  • C-Suite executives, directors and managers of banking institutions and their affiliates

Baker Tilly presenters

James Jarrett, CPA, Firm Director
Kristan Stanchak, CRCM, Senior Manager
Chad Gibble, CAMS, CPA, Senior Consultant

Information about CPE eligibility

There are no prerequisites for this webinar, and advance preparation is not required. There is no cost to attend this webinar.

CPE credit: One (1) hour total credit
Field of study: Specialized knowledge application (SKA)