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A Complete Guide to Anti-Money Laundering Model Validation

OnDemand Webinar (87 minutes)

Learn the key components of BSA software to help monitor any sort of suspicious activity within your financial institute.BSA compliance officers at financial institutions, regardless of the size of the institution or the amount of resources dedicated to BSA, have a duty to detect and report suspicious activity. This duty requires that a large amount of transactions in formation should be reviewed and analyzed on a regular basis. Over the past few years, several software programs have been developed to assist BSA Officers with their monitoring requirements. Regulators have begun to note that although the software programs have been implemented in most financial institutions, the overall effectiveness of the software and its usage have gone untested. Starting in 2016, regulators began to ask financial institutions to perform model validations which is a test of the overall use and effectiveness of software for BSA monitoring. This material is designed to assist BSA Officer with the development of a scope and RFP for a model validation that will meet the standards set by regulatory agencies.


James DeFrantz, CRCM, CAMS, J.D., Virtual Compliance Management



• Bsa/Aml as Part of Everyday Banking

• The Overall Point of a Bsa Program

The Components of a Bsa Program

• The Five Pillars

• How the Five Pillars Work Together

• How a Monitoring System Fits Into the Bsa Program

Models and Bsa Monitoring

• Models Are Used for Trends and Analysis of Customer Behavior (Peer Behavior)

• The Parameters Set in the Model Are a ‘Keep' to Achieve Effec-Tiveness

Model Validation

• Not to Be Confused With Data Validation

• Model Validation Is the Overall Usage of the Information Obtained

Components of the Model Validation

• Governance

• False Alerts

• Adjusting Parameters

• Testing Effectiveness