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Course description

The 2020 AML Act encourages financial institutions to explore innovative solutions for suspicious activity monitoring. Many institutions either are already or are considering automated solutions to aid in this process. However, in spite of what a salesperson may tell you, these systems are not “plug and play.” Guidance from regulators make it clear that financial institutions are expected to evaluate monitoring parameters, risk rating methodologies, and OFAC filtering models to ensure that they are calibrated based on your unique risk profile. Recently, a community bank was fined $8 million for missing suspicious activity in part due to misuse of its automated system. In this session we will cover the requirements of developing and maintaining a suspicious activity monitoring model.

As financial crimes grow in complexity, the systems needed to monitor, identify, and report suspicious activity must keep pace. The key to a compliance BSA Program is developing adequate policies, procedures, and processes for model risk management, periodic testing of the system to ensure that data feeds are working, and evaluation of the model’s performance to ensure outcomes are generated as expected.

When considering which vendor to utilize, financial institutions should carefully evaluate the system’s capabilities and compare those to the institution’s needs. System limitations may necessitate that some customers and transactions are still monitored manually or require separate monitoring systems/ The process for selecting the right vendor for your institution is just as important as managing the software once it is implemented.

The most common frustration with model risk management is the volume of alerts systems can generate. Proper evaluation and calibration of parameters is necessary to ensure that you are not missing suspicious activity because the model is too narrowly defined, but also that you mitigate the risk of missing suspicious activity because the model is so broad that you cannot keep up with the volume of false alerts.

In this two-hour session, Brian will cover:

  • Model Development
  • Model Governance
  • Model Risk Assessment
  • Preparing a gap analysis
  • Data Integrity Analysis
  • Parameter testing
  • Model Validation

Written materials will be provided for the listener to refer to during the presentation.


BSA Officer, BSA Analysts, BSA Auditors


Brian Crow

Brian Crow, CAMS is Managing Partner & Co-President at Thomas Compliance Associates, Inc. in Chicago, IL. Brian’s passion for and skill in protecting bank assets from fraud and compliance losses have earned him the nickname “Security Evangelist.” In addition to developing and guiding the strategic vision for TCA, Brian delivers focused educational support to clients and helps them manage TCA’s suite of consulting, audit, and training services. He is a nationally recognized expert on BSA/AML and deposit compliance and is a regular speaker at the annual BSA/AML Top Gun Conference. As an education consultant for the Glia Group BOL Learning Connect program, Brian conducts webinars on topics like VISA/MasterCard chargebacks, debit card compliance, and fraud prevention. For this work, he was recognized as a Bankers Online Guru in 2011. “Bach to Spock” could characterize his interests outside work. Music has been a lifelong passion, and Brian is the organist and handbell director for King of Glory Lutheran Church in Elgin, Illinois. And as a devoted Trekkie, he can hold my own with anyone in a Star Trek trivia match.

Course curriculum

  • 1


    • Access Webinar

  • 2


    • Slides

    • Materials

    • Guidance

    • Questions and Answers


4 star rating

Anti-Money Laundering Model Risk Management

Susie Okrasinski

Very good information for banks with new automated BSA platforms.

Very good information for banks with new automated BSA platforms.

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5 star rating

Live Webinar - Anti-Money Laundering Model Risk Managemen...

Mary Strozzi