Since the FFIEC agencies began applying the OCC's Supervisory Guidance on Model Risk Management (OCC 2011-12) to Bank Secrecy Act / Anti-Money Laundering compliance practices during 2012, U.S. financial institutions have adopted more rigorous use of analytics, testing, and governance. This session will highlight best practices in Model Tuning & Optimization.
Topics covered will include:
Relationship between Risk Appetite and MRM practices
Discussion of how AML models have been integrated in broader enterprise MRM processes
Skills and processes required to support practices in-house
Lessons learned from regulatory reviews
Challenges and changes in the AML model tuning & management
Big data and visualization technologies to speed the process of tuning & optimization
Emerging practices for automating prioritization and triage of work items
Graham Bailey, Director of Anti-Bribery & Corruption Program and Financial Crimes Analytics, Wells Fargo Bank
David Stewart, CAMS, Business Director, Security Intelligence Solutions, Banking Security Intelligence Practice, SAS
The I-95 Corridor connects the largest cities in the Northeast. It also provides an efficient and direct route for criminal groups to transport the proceeds of crime through several states in a matter of hours. This presents a unique problem for both law enforcement and financial institutions as they strive to identify, investigate, and curtail these illegal activities. This session will describe four major types of smuggling along this corridor and provide insight for financial institutions tracking transactions flowing down the highway.
In particular, the session will focus on: The movement of people – human and labor trafficking The movement of drugs – medical marijuana to heroin The movement of goods – tobacco, fuel, and counterfeit items The movement of cash – online gambling, drugs, and check cashing
Darrin McLaughlin, CAMS, AML Advisory Lead, Financial Intelligence Unit and Fraud, Capital One
Denise M. Wright, CAMS, Bank Secrecy Act and Sanctions Compliance Officer, Rabobank International and Rabo Securities USA