Leveraging Analytical Models for the Prevention of Money Laundering

This model risk management session will cover an overview of anti-money laundering models, why/how they are used, and how their performance is validated. Our trusted advisors will share helpful insight on these questions:

• What is an anti-money laundering (AML) model?
• How, why, and when do institutions use such models?
• What is expected of compliance team members?
• Why do third-party models need validation?
• What does the model validation process look like?

Learning Objectives

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

• Discuss how/why banks leverage models, specifically for Bank Secrecy Act (BSA)/AML compliance
• Describe why it’s important to validate a third-party model independently  
• Explain the level of commitment for BSA officers and other bank personnel