Developing Risk Models for AML and BSA Monitoring Programs

Duration: 60 Minutes
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.
Risk Models for AML-BSA
Product ID: 500938

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
  • Hot to identify the components of a risk model
  • How to create a risk model
  • What risk model can and cannot do
  • How to incorporate a risk model into an existing or developing AML programs
  • Maintaining a risk model within a program
Who can Benefit
  • TAML/BSA Officers and Consultants
  • AML/BSA Software Developers
  • Risk and Compliance Management Personnel
  • Regulatory Compliance Associates and Managers
  • Company Management
  • Audit Professionals
$300
Recorded Session for one participant
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How it works
Live Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • The webinar joining link, username and password for joining the webinar will be updated on your OCP Account 24 hours prior to the webinar
  • Presentation handouts in Downloadable PDF format will be updated on your OCP Account 24 hours prior to the live session
  • Login to the audio conference on the scheduled date and time
  • Get answers to your queries through interactive Q&A sessions via chat at the end of the session
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account 24 hours after the completion of the session
  • Please let us know your thoughts and views at the end of the webinar, your valuable feedback will help us improve
Recorded Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Warren R. Markowitz is an attorney and veteran compliance officer. He has been an active participant in the world wide financial sector since 1994. Mr. Markowitz has provided hands on, direct advisory services to domestic and international financial providers in their dealings with federal and state oversight authorities and self-regulatory organizations, as both a lawyer and an adviser through consulting and technology advisory firms with whom he maintains relationships. His real world experience with regulatory bodies has enabled him to represent his clients with a perspective on resolving matters or concern and avoiding new ones.
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