Automated Monitoring Systems: Implementation to Validation


Presented by: Brian Crow                  
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  Whether your institution is considering making the jump from manual reports and spreadsheets to an automated monitoring system or you have a system that you have been using for years, this webinar will have something for you. We will not endorse one vendor over another, but we will discuss the key components of your vendor management program that can help make sure you pick the system that is best suited for your institution. Every system has its limitations. We will cover steps you can take to identify and document these limitations so that you can develop procedures for monitoring activity that your system does not.

Your vendor may make recommendations for customizing system settings, but the responsibility for the system's accuracy in identifying suspicious activity ultimately rests with the institution. Using current guidance we will give you tips for analyzing your customer's activity to help establish system parameters.

Strong policies and procedures establish accountability for maintaining and operating an AMS. Who manages alerts? What is the appropriate timetable for reviewing alerts? How are alert resolutions documented? We will address examiner expectations and best practices.

Once your system is up and running, examiners will expect that the system is independently validated in order to ensure that the model is reasonably designed based on the unique risks of your institution. We will cover the current guidance to help you know what to expect during a validation and what questions your examiners may ask.

In this two hour session, Brian will cover:
  • Vendor Management
  • System Implementation
  • Model Policy
  • GAP Analysis
  • Customer risk rating settings
  • Rule Settings
  • OFAC & 314(a) Processing
  • Change Control
  • Model Validation preparation
  • 2005 FDIC Model Governance
  • 2011 FRB/OCC Model Validation Guidance
Written materials will be provided for the listener to refer to during the presentation.

BSA Officers, BSA Analysts, IT Managers, Auditors, Compliance Officers

About the Speaker: Brian Crow is a Compliance Associate at Thomas Compliance Associates, Inc. in Chicago, IL. Brian brings 20 years of prior banking experience to the consulting field. He was most recently Assistant Vice President and BSA Administrator for a suburban Chicago bank, where his responsibilities included preparing the bank's annual BSA risk assessment and audit documentation. Earlier as Operations Officer at the same bank, Brian monitored AML activity, aided in the implementation of the bank's AML software, and designed the bank's authentication blocking program that helped to reduce debit card fraud losses by 95 percent.

Mr. Crow has been, and continues to be, an education consultant for the Glia Group BOL Learning Connect program, conducting webinars that have covered VISA/MasterCard chargebacks, debit card compliance and fraud prevention for hundreds of banks. It was in this role that Mr. Crow was recognized as a Bankers Online Guru in 2011. Like many of us, Mr. Crow began his banking career as a teller, working his way up to head teller and then branch management responsibilities. He earned a B.A. degree in Theology from Concordia University, River Forest, Illinois. Because of his education background, Brian has been given the unofficial title of "Security Evangelist" as he strives to help financial institutions protect their bottom line from losses related to fraud.

This program was recorded in its entirety in August 2015. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.

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  • Model: cd_monitor0815
  • Manufactured by: Glia Group, Inc.

This product was added to our catalog on Monday 22 June, 2015.

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