VIDEO
Model validation for financial institutions
Model validation is an important part of BSA/AML compliance for financial institutions — and an area that regulators are watching.

Banks need to evaluate their models on a regular basis to validate whether they are working as intended; confirm conceptual soundness of models; properly document models; and tune models as needed to deliver more meaningful alerts to BSA analysts.

As models become more complex, validating those models may require a different approach, looking at areas such as data integrity and potential bias in machine learning algorithms.


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Key Contacts

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Jason Chorlins, CPA, CFE, CAMS, CITP

Principal, Risk Advisory Services

Miami

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Ivan A. Garces, CPA

Chief Risk Officer, Risk Advisory Services Practice Leader

Miami