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Vendor Due Diligence Best Practices for BSA/AML/OFAC System Selection – TBD

$295.00

Many financial institutions review their internal controls for BSA and realize their current AML system is not effective and producing too many false positive alerts.  The inability to produce effective alerts is a significant internal control deficiency and often result in a BSA internal control pillar failure.   This session will take attendees through best business practices for selecting an effective AML system based on the institutions risk profile, ease of use, and the ability for the system to be sustainable for years.  Learn real case studies of how financial institutions chose the wrong vendor simply through word of mouth and are still paying the price in regulatory criticisms and continued false positive alerts.  This webinar will include a best business practice document for selecting an effective AML system vendor.

SKU: BSA/AML/OFAC System Selection - TBD Category: Tags: , , ,

Description

Many financial institutions review their internal controls for BSA and realize their current AML system is not effective and producing too many false positive alerts.  The inability to produce effective alerts is a significant internal control deficiency and often result in a BSA internal control pillar failure.   This session will take attendees through best business practices for selecting an effective AML system based on the institutions risk profile, ease of use, and the ability for the system to be sustainable for years.  Learn real case studies of how financial institutions chose the wrong vendor simply through word of mouth and are still paying the price in regulatory criticisms and continued false positive alerts.  This webinar will include a best business practice document for selecting an effective AML system vendor.

Topics include:

  • Review of deficient AML systems
  • Determining how to know when your system is not working for you
  • Recommendations for performing AML vendor due diligence
  • Best business practices for performing ongoing vendor due diligence of your AML system based on external threats and internal needs

 

Who Should Attend?

  • BSA/AML Officers and Support Staff
  • Branch management
  • Information Technology Officers
  • Information Security Officers
  • Risk Managers
  • Compliance Managers
  • Internal Auditors
  • Executive Management
  • Board of Directors