The recent Interagency Statement on Model Risk Management for Bank Systems Supporting Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Compliance is raising questions among some financial institutions. In “Right-size your BSA/AML model risk management,” we share:
- Common pitfalls related to under-management and over-management.
- Managing third-party relationships.
- Tailoring your BSA/AML model risk management practices.
Ensure your financial institution is dedicating the right resources to BSA/AML system model risk management.
