Focus on Financial Institutions: Optimizing AML Software to Align with Your Risk Management Program (II of II)

  • When: Previously recorded on: October 15, 2014
  • Time: 12:00 PM – 2:00 PM ET
  • Level: Intermediate to advanced

With constant changes in regulatory expectations and an increase in global financial crimes, financial institutions are placing a high priority on AML software and its ability to accurately identify red flags and suspicious activity. Furthermore, examiners are continuing to scrutinize the effectiveness of transaction monitoring systems, necessitating continuous system updates.

Failure of tuning software to recognize suspicious transactions may leave your institution vulnerable to criminal activity and regulatory enforcement. To achieve the full potential of a system’s outputs, AML departments must have a dedicated team that is constantly tuning risk parameters to address new customer profiles and the latest compliance rules.

The second installment of this software implementation series teaches you to identify thresholds and rules that need to be adjusted and how to effectively calibrate your AML software so that it is synchronized with your institution’s core system.

Learning Objectives

  • Outlining steps to recalibrate software to eliminate false positive alerts
  • Establishing documentation procedures to keep track of your AML software performance
  • Identifying new or changing customer profiles and establishing protocols to update your system accordingly

Who Should Attend

  • AML Compliance Officers
  • Analytics Specialists
  • Consultants
  • Compliance Operations Professionals
  • Financial Intelligence Unit Personnel
  • Internal and External Auditors
  • IT Professionals
  • Quality Assurance Professionals
  • Risk Management Specialists
  • Transaction Monitoring Specialists

Industries

  • Banks and Credit Unions
  • Credit, Debit and Pre-paid Card Companies
  • Government and Regulatory Agencies
  • Insurance Companies
  • Money Services Businesses
  • Securities and Investment Firms
  • Software and Technology Providers

Pricing

ACAMS Members Non-Members
$195 $295
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Moderator

Myrna Olvera
  • Myrna Olvera, CAMS

  • Senior Vice President Operations Risk Manager
  • City National Bank

Speakers

Karsten Behrend
  • Scott Nathan

  • Senior Vice President & BSA Officer, Enterprise Risk Management
  • Bank United

Elizabeth Slim
  • Elizabeth Slim, CAMS

  • Senior Vice President & BSA Risk Officer
  • 1st Enterprise Bank