Ensuring that your BSA/AML model is ready for testing and understanding what an appropriate scope should include are essential to getting the most value out of an anticipated model validation. In this session, we will examine common roadblocks to getting the most out of your engagement, put into plain words what the scope of work should encompass, and describe the steps in the validation process.
May 3, 2018 The Fifth Pillar - Beneficial Ownership - WST Fifth Pillar - Last Call! For the past two years, BSA compliance personnel have been working feverishly to prepare for the beneficial ownership requirements under the new Customer Due Diligence Rule (a/k/a The Fifth Pillar) that have a mandatory compliance date of May 11, 2018. After months of system changes, policy and procedure revisions, and staff training, are you ready for the largest changes in the BSA environment in nearly 15 years? Your carefully crafted program undoubtedly takes into consideration FinCEN’s July 2016 FAQ, and you’re [...]