Developing Risk Models for AML-BSA Monitoring Programs 2015

Developing Risk Models for AML and BSA Monitoring Programs Instructor: Warren R. Markowitz Product ID: 500938 Description This session will offer insights on developing risk models for AML/BSA monitoring programs. Risk Models are key components in an automated BSA/AML program. Their design, maintenance and application are important factors in the success and efficiency of a program. By participating in this webinar, you will be able to understand the basics and productively assist in the development of a risk model and its application as it relates to the needs of your institution and business lines. Areas Covered What is a risk model and its purpose? What can/cannot a risk model do? Existing risk model or factor rules/regs How to develop a risk model? What do I need? What can I live without? Have I understood all the components? Testing a risk model Do I need more than one risk model, or the flat model approach? Documenting and re-evaluating the process and resulting model Why Should you Attend A risk model plays a key role in the AML/BSA monitoring program, and the methods used in its development and their applications provide a basis for further action. Regardless of the number of customers, areas of concern, geographic operations or size of transaction, a well-developed model provides a solid foundation for the fulfillment of an organization’s AML/BSA responsibilities. This webinar will discuss the need for a risk model, its effectiveness and limitations and also analyze existing models. It will further elaborate best practices for developing a risk model and testing it. With the growth of automated AML/BSA systems, and an increase in government oversight, restrictions and concerns, this program is designed to assist AML officers, compliance professionals, and legal or operational team members in understanding the factors that can be used to develop a risk model and its implications. Objectives of the Presentation Understanding the makeup of a risk model Ho