Show navigation

Available in:

OnDemand Webinar
Audio & Reference Manual
MP3 Download

A Complete Guide to Anti-Money Laundering Model Validation

Learn the key components of BSA software to help monitor any sort of suspicious activity within your financial institute.

BSA compliance officers at financial institutions, regardless of the size of the institution or the amount of resources dedicated to BSA, have a duty to detect and report suspicious activity. This duty requires that a large amount of transactions in formation should be reviewed and analyzed on a regular basis. Over the past few years, several software programs have been developed to assist BSA Officers with their monitoring requirements. Regulators have begun to note that although the software programs have been implemented in most financial institutions, the overall effectiveness of the software and its usage have gone untested. Starting in 2016, regulators began to ask financial institutions to perform model validations which is a test of the overall use and effectiveness of software for BSA monitoring. This material is designed to assist BSA Officer with the development of a scope and RFP for a model validation that will meet the standards set by regulatory agencies.

Runtime: 88 minutes
Purchase Options

More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview

  • Bsa/Aml as Part of Everyday Banking
  • The Overall Point of a Bsa Program

The Components of a Bsa Program

  • The Five Pillars
  • How the Five Pillars Work Together
  • How a Monitoring System Fits Into the Bsa Program

Models and Bsa Monitoring

  • Models Are Used for Trends and Analysis of Customer Behavior (Peer Behavior)
  • The Parameters Set in the Model Are a 'Keep' to Achieve Effec-Tiveness

Model Validation

  • Not to Be Confused With Data Validation
  • Model Validation Is the Overall Usage of the Information Obtained

Components of the Model Validation

  • Governance
  • False Alerts
  • Adjusting Parameters
  • Testing Effectiveness

Conclusions

Purchase Options

More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on August 31, 2018.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • NY CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • NY CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Purchase Options

More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

James DeFrantz, CRCM, CAMS, J.D.

James DeFrantz, CRCM, CAMS, J.D.

Virtual Compliance Management

  • 30 years of experience in financial service regulatory compliance
  • Worked with money service businesses in the United States and internationally
  • Specialist in compliance in consumer and real estate lending
  • Served as a senior compliance examiner at the Federal Reserve Bank in San Francisco; as an analytical manager at the Office of Thrift Supervision; and as a commissioned national bank examiner at the Office of the Comptroller of the Currency (OCC)
  • He has a certificate from the Pacific Coast Banking School of bank management
  • Certified regulatory compliance management and certified anti-money laundering specialist
  • J.D. degree, University of San Francisco; B.A. degree, Dartmouth College
Purchase Options

More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
  • OnDemand Webinars
  • MP3 Downloads
  • Course Manuals
  • Audio Recordings*
  • Executive Reports
  • White Papers and Articles
  • Sponsored Live Webinars

Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

Sign Up Today
With This Course

Access to all training products for one year
$699/year

Unlimited Lorman Training

With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!

Easy Registrations

Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.

Invest in Yourself

You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.

Product ID: 401350
Published 2018
Purchase Options

Available in Multiple Formats

Purchase this course and learn on your schedule!