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 

Related Thoughtware

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