Understanding The Difference Between BSA Model Validation, Aml System Optimization And BSA Independent Audit

Financial institutions have experienced regulatory criticism for the absence of a model validation performed on their BSA program. What is the difference between having an independent audit, model validation and system optimization? How often should you complete these reviews/audits, and can these be performed internally, or should they be outsourced? This webinar takes attendees through the differences between these audit/compliance requirements and provide financial institutions with the knowledge needed to determine their plan of action for which type of service is needed based on regulatory requirements, expectations and internal needs.

Topics include:

• Regulatory requirements and expectations for independent testing, model validation and system optimization
• Frequency of performing these reviews/audits
• Regulatory criticism for not completing these reviews/audits
• Top findings and observations from independent testing, model validation and system optimization.
• Resources for referrals of outside parties to provide these services

Who Should Attend?

• BSA and Fraud
• Compliance Officers
• Internal Audit
• Information Security/Technology
• Senior Management