Buckley Sandler Webcast: Transaction Monitoring for Financial Crimes
Regulators have turned their attention to the adequacy of financial institution transaction monitoring systems. Recent examinations have focused on the adequacy of the transaction monitoring system itself, the rules that inform the system, and the downstream impact of transaction monitoring system deficiencies on issues such as SAR filing, risk assessments, and testing, among other issues.
In addition, as financial institutions begin to migrate compliance processes from risk specific silos such as money laundering, sanctions, corruption, and fraud into a more comprehensive financial crimes structure, addressing the impact this will have on transaction monitoring programs is an institutional imperative if the risk mitigation and SAR reporting processes are to function optimally. Understanding the challenges of disparate data source integration, the inherent complexity of transaction monitoring models, and the analytics required to maximize investigative utility is critical to success.
Please join Buckley Sandler and invited panelists for a discussion of the following topics:
• How to organize a financial crimes transaction monitoring function
• Considerations in establishing rule sets appropriate to the task, as well as the ongoing tuning of these control settings
• Employing data analytics to triage output and improve system accuracy
• Validating the adequacy of your institution’s transaction monitoring system
• Evaluating the adequacy of the rule sets that underlie your institution’s transaction monitoring system
• Incorporating the lessons from transaction monitoring models into the risk assessment process
• Structure and process for analysis of alerts
• Regulatory expectations regarding system implementation and model validation
• Carrie Gilson, Senior Vice President, Director of AML Modeling Analytics, Key Bank
• David Black, Senior Director of AML and OFAC Analytics, US Bank
James T. Parkinson focuses on international regulatory compliance counseling, corporate internal investigations, and enforcement defense litigation. He represents clients on a variety of criminal and civil enforcement actions, including Foreign Corrupt Practices Act (FCPA), securities fraud, insider trading, false statements, and environmental matters.
When: May 19, 2016 from 12:00 to 1:00 pm ET
Registration is required. Please, no outside law firms, government agency personnel, consulting firms, or media. After registering and being approved, you will receive a confirmation email containing instructions for joining the webcast.