This content was published prior to the merger of equals between BKD and DHG on June 1, 2022. See all FORsights for the most up-to-date articles, webinars, and videos.
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?
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