BSA/AML Model Validation

The Bank Secrecy Act (BSA) is integral for protecting financial institutions against fraud. Under the BSA are Anti-Money Laundering (AML) regulations, which are specific rules that help businesses comply with the BSA. Many banks and financial companies use BSA/AML software to follow these federal laws.

The right BSA/AML software can improve your process. However, protecting your data from piracy and cyber attacks becomes necessary with any electronic program. 10-D Compliance offers BSA/AML Model Validation to assess your software development, implementation, and use according to the Supervisory Guidance on Model Risk Management OCC.

The Service

D-10 Security will evaluate your current BSA/AML software and procedures to follow necessary regulations and improve safety. We use our criteria and written legislation to determine your model's effectiveness and potential weak spots. From there, we can help you tighten security and comply with all requirements to avoid potential penalties. 

Whether alone or as part of a BSA/AML Audit, we inspect the following aspects of model validation: 

  • Benchmarking
  • Data validation
  • Data reconciliation
  • Developmental evidence
  • Documentation
  • Governance
  • Outcome analysis 
  • Security and change control

We offer Verafin model validation and work with various software developers. Once we complete the evaluation, you'll receive a compact analysis of your software's effectiveness. We deliver risk-based facts in an accessible report, which management can share with each department. 

The Scope of Work

Our BSA/AML Model Validation meets all industry guidelines and best practices. We tailor our process to your needs and values and offer remote and on-site audits for enhanced convenience. 

Our services benefit your company with: 

  • Quick turnarounds for reports and deliverables. 
  • Prices that match your budget constraints. 
  • Outsourced analysis that maximizes employee resources and time. 

Whether you are installing new software or have a decade-old procedure, we will help protect your institution from violations and regulate your process. 

Why Choose Us?

10-D Compliance makes it simple for any company to improve technology models. We have nationwide auditing experience helping small and large businesses upgrade and enhance their compliance efforts. Our services ensure your software complies with all regulations while maintaining your individual business goals. 

Former compliance and BSA officers, auditors, and examiners complete each audit with previous knowledge and experience. Our easy-to-read reports will help you design and implement new procedures as needed. We will deliver each notice promptly so you can begin upgrading your software or scaling your processes as needed. 

Learn More From 10-D Compliance 

If you need prompt compliance assistance, look to 10-D for service. We can help you understand your software's advantages and improve potential security breaches. 

Request a quote or contact us online today to learn more about BSA/AML compliance and protect your company. 

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The 10-D Compliance Difference
  • Our assessments are performed by former compliance/BSA officers, auditors, and examiners with vast experience of the inner workings of financial institutions AND in-depth compliance knowledge.
  • We have nationwide auditing experience with ALL types and sizes of institutions.
  • We provide concise, professional, and easy to read reports delivered promptly.
You would benefit from a 10-D
BSA/AML Model Validation if
  • You require quick turnaround of reports and deliverables.
  • Your budget constraints do not allow for “Big Accounting Firm” prices.
  • Your management values their time and lacks resources to conduct their own reviews.

Keep your institution off the evening news.

Contact Us