THU11 - Positive Actions: How to Reduce False Positives and Enhance AML Efficiency

Description

• Reviewing current false positives to identify systemic causes such as reliance on legacy systems, static risk assessment models and regulatory expectation concerns

• Supplementing staff expertise with advanced analytics and predictive models to hone risk detection and foster robust alert signaling processes

• Working with oversight bodies to ensure revamped systems meet regulatory requirements and mitigate potential risks such as false negatives

Moderator(s):

• Chuck Taylor, CAMS, Executive Vice President, Head of Financial Crimes Advisory, AML RightSource

Speaker(s):

• Jason Chorlins, CPA, CFE, CITP, CIS, CAMS, Principal Banking Practice Leader, Risk Advisory Services, Kaufman, Rossin & Co.
• Brian Ferro, Global Product Manager, AML/BSA Compliance, BAE Systems
• Tim Lutz, Director, Financial Intelligence Unit, US Bank
• Joe Soniat, CAMS, CFE, Account Risk Management Sr. Associate, Federal Reserve Bank of New York