Webinars

AML System and OFAC Filter Model Validation Webinar

In this webinar, we'll discuss and evaluate the benefits of model validations or the need for these projects as part of the risk management process at financial institutions. While model validation has received increased attention from the Financial Institutions' Regulators in recent years and may appear to be the driving force behind some projects undertaken by banks and other institutions in recent years, conducting post-implementation reviews at the end of a project to validate appropriate implementation, data integrity, MIS accuracy, and achievement of project objectives, etc. has been the regulatory requirement and industry practice for decades regarding any system implementation. Considering that these requirements have been in place since the time technology was not as pervasive as it is today, it is not only a regulatory expectation but a prudent risk management practice to have various audits and reviews in the matter, e.g. pre-implementation, post-implementation, periodic data integrity testing and model validation, etc. as these assure the effectiveness of the design and performance of the model and related processes.

U.S. Regulatory guidelines as well as Examination Procedures are clear on the expectations of managing AML risks, including those related to the AML risk management models. While various regulatory guidelines have dealt with model risk management and regulatory agencies have been asking for results of independent AML/OFAC pre and post-implementation audits and model validation reports, New York State Regulator for banking and insurance has issued a regulation that makes these activities mandatory as part of Transaction Monitoring and Filtering Program risk management processes at covered entities.

Who should attend? Those who should attend include senior management, risk managers, compliance professionals, internal auditors and others interested in the hot topic.

When? Friday, July 28th at 12PM ET

1 CPE will be awarded to attendees of this webinar free of charge. Participants will be requested to fill out an evaluation form after this webinar had been completed.

Accume Partners is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website www.NASBARegistry.org

Additional Information

Prerequisites: None

Advanced Preparation: None

REGISTER HERE


Cybersecurity and Lessons Learned from Security Incidents

Accume Partners presented a webinar on May 31 in which we shared some of key insights our firm and our clients have gained in responding to actual security incidents.  Best practices were also shared during the session.

View the recording

To gain more background on cybersecurity and one of the key risks hiding in organizations, please read "It Could Never Happen to Us...", an article written by Michael Barrack.

The article can be found here

Following the recent "WannaCry" Malware attack, it's incredibly important for companies of all sizes to stay vigilant and review all security measures. These global attacks reflect an increased capability on the part of Internet bad actors, and could happen at any time. We are providing detailed guidance on preventive action for our vulnerability management clients in response to this threat. We are also offering this information to all Accume clients upon request. If you are interested in getting these details, please contact information@accumepartners.com.

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