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

Jun 08, 2021 - 11:00 a.m. to 12:00 p.m.
Central time
Related Industries

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

Related Thoughtware

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