Validating Your BSA/AML Models: How It’s Done & Why It’s Important

This model risk management session will cover the model validation process and the importance of validating third-party models. Our trusted advisors will share helpful insight on these questions: 

• What types of models do banks use?
• Why do third-party models need validation?
• What are examiners' pain points?
• What does the model validation process look like?
• What is expected of you and your team and how do findings affect the bank?

Learning Objectives

Upon completion of this program, participants will be able to:

• Discuss how banks leverage models, specifically for BSA/AML compliance
• Describe why it’s important to validate a third-party model independently
• Explain the level of commitment BSA officers and other bank personnel need to perform a validation
• Identify examiners’ expectations